Zpryme: Intelligent Research for an Intelligent Market

Austin, TX (ZPRYME NEWS) – 07/24/08 – Toyota Motor Corporation is a multinational corporation that has its headquarters in Japan. It was founded sometime in 1937 by its founder Kiichiro Toyoda, and at present, it is considered as the largest carmaker of the world.

Likewise, Toyota is the owner of famous brands such as the Lexus and the Scion and also holds the majority holding of Daihatsu Motors. The company’s name was originally taken from the last name of its founder though it was later changed to Toyota.

Recently, James Bleeker on “Toyota and Honda Dominate the Greenest vehicles of 2008 and Account for All the Greenest That Are Among the Best of 2008”, reported that in a rating made by the American Council for an Energy Efficient Economy on most of the passenger vehicles, the two companies were reported to have the most environment friendly cars as shown by their very high Green Scores. It is great to know that of the top 12 vehicles with the highest green scores, Toyota Motors accounted for eight while Honda Motors accounted for four and these vehicles were also among the Best Automobiles for the year 2008. Among Toyota’s greenest vehicles for 2008 which wee among the best vehicles in 2008 were Toyota Prius, Toyota Yaris, Yoyota Corolla, and Toyota Camry.

Nonetheless, Reuters Tokyo on “Toyota hints cut to U.S sales forecast” added that on the last week of June, Toyota Motor Corporation announced that it finds it difficult to hit the annual targeted sales of the company in the United States due to the recent plunge of the US economy. Toyota is on the process of adjusting the US sales forecast of 2.64M vehicles in 2007 in view of the sluggishness in the US economy at present and the high gas prices.

This is of course not just the challenge that Toyota has to face but a challenge to all carmakers as Associated Press on “June car sales plummet; more declines expected” reported that Toyota Motors said that June 2008 is definitely the worst June for 17 years in the carmaker’s business years. Honda Motors also reported almost similar decline as that of the sales of Toyota as compared to that of last year for the US sales target and GM also had a drop of 18 percent. The decline of Toyota can be attributed to the fact that with the high prices of gas, the market shifted to smaller cars of which Toyota has not enough of the fuel efficient Prius, Corolla and Yaris. This, Toyota wants to remedy in order to boosts its sale.

By
Zpryme: Emerging Markets Group

LEARN MORE @ www.zpryme.com