Toyota FJ Cruiser Forum banner
1 - 1 of 1 Posts

· Registered
562 Posts
Discussion Starter · #1 ·
June 9 (Bloomberg) -- Toyota Motor Corp., the world's second-largest automaker, expects its annual U.S. sales to rise by a fifth to 2.5 million vehicles by 2008, winning market share.

Toyota's sales increase will come from new models and overall industry growth, said spokesman Mike Michels. The company, which raises prices about 1 percent to 2 percent annually, will increase prices in the U.S. by 3 percent this year, the Asahi newspaper reported, without citing anyone. Michels said no decision has been made on a price increase.

Toyota, which is the fourth largest carmaker in the U.S. behind General Motors Corp., Ford Motor Co. and DaimlerChrysler AG, has boosted U.S. sales 10.2 percent in the first five months of the year. The Toyota City, Japan- based carmaker's goal would mean 21 percent sales growth compared with the overall market increasing by between 12 percent to 18 percent.

``This is a general direction, based on the models we'll be adding and an overall market that we think we will grow to 19 million to 20 million vehicles in the next few years,'' Michels said. U.S. consumers bought 16.9 million new cars and trucks last year.

New Factories

The company next year will open its sixth North American assembly plant, a pickup truck plant in Texas, and has said it may soon decide on more factories for the region to meet rising sales. GM, the largest automaker, this week said it plans to cut 25,000 U.S. factory jobs and close some plants by 2008.

The goal is 440,000 units more the 2.06 million Toyota, Lexus and Scion brand autos purchased by U.S. consumers in 2004. The plan was discussed at a meeting with analysts and investors at Toyota's U.S. sales headquarters in Torrance, California on Tuesday, said Michels.

Toyota will raise U.S. prices for its vehicles to assist U.S. automakers, the Asahi newspaper said. Toyota Chairman Hiroshi Okuda said in April the company may raise prices to give General Motors and Ford ``some breathing space.'' Honda Motor Co. earlier rejected Okuda's call to raise prices.

``There's no formal policy to raise prices to somehow adjust the competitive relationship,'' Michels said. Toyota's vehicles prices ``are determined by the market place, changes to our products, commodities costs and currency rates,'' he said.

Toyota's U.S. prices in recent years have risen on average by about one or two percent, Michels said.

The company this month will begin selling a hybrid- electric version of its Highlander sport-utility vehicle and a revamped Lexus IS luxury sedan later in the year. In 2006 the new FJ Cruiser SUV and a redesigned Tundra pickup are also to be added.

Toyota's shares rose 0.5 percent to 3,830 yen in Tokyo.

1 - 1 of 1 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.