Toyota Back on Top
Toyota recently released their first-half of 2012 results and they have regained the top spot as the world’s largest automaker once again surpassing General Motors. While this news is impressive, it comes at no surprise.According to TheCarConnection.com, “From January through June, Toyota sold … 4.97 million vehicles around the globe. That put the company 300,000 units ahead of General Motors, which finished in second-place with 4.67 vehicles sold.”
For months now, Toyota has been releasing sales reports that show massive gains in sales versus the previous year. Why are sales booming? Simple, 2011 was a terrible year. The automaker endured a massive Earthquake/Tsnamuni natural disaster in Japan and flooding in Thailand. These events caused massive production and parts shortages that literally caused many dealers to be “out of stock” on Toyota vehicles. Dealers low on inventory plus dealing with a global recession were a double whammy on car sales.
This year has been fundamentally different. Dealers are in stock, the recession is by all accounts ebbing for the auto industry and Toyota is increasing production.
Consumers have been responding as well with thousands of new cars moving off the lot. Sales are growing so fast that a new rail-car shortage issue has become a real problem.
While Toyota’s sales are being driven by passenger cars that have high gas mileages, the truck division is growing as well. Even though the Tundra doesn’t sell as well as the Ford F-150, the truck is a big part of the overall market mix Toyota offers.
With a new Tundra on the horizon, it remains to be seen how well the new truck will compete with Ford.
Filed Under: Auto News