Thursday, August 9, 2007

Toyota Slower Growth in U.S. in Future

Toyota Motor Corp will continue to grow in the U.S. market, but at a slower rate than it has in the past, and is considering targeting young consumers with a premium small car, the automaker's North American sales chief said on Thursday.

"I don't think the double-digit growth of the past few years will continue because we are such a large part of the U.S. market now," Jim Lentz told new sources.

Lentz said Toyota is on track to post a U.S. sales increase of 5 to 6 percent in 2007. The automaker is now neck and neck with General Motors Corp in global sales, and is expected to become the world's largest automaker this year.

"For next year, we will definitely grow, but we have to reevaluate the market in the fourth quarter to see how much we could grow," he said. Toyota sold 2.5 million vehicles in the U.S. market in 2006 and had more than 17 percent of the market in July.

Read more here.

No comments: