Toyota Motor on Monday stated it was dedicated to the ailing U.S. sedan market which it expected a brand-new model of its Camry, the top-selling passenger car in the country for decades, to help increase the company’s sales in the sector.
The automaker stated it was “inconceivable” that mid-size sedans would vanish from the market, and any relocation by its competitors to stop selling what was once amongst the most popular vehicles would let Toyota to enhance its presence.
Low-cost U.S. fuel rates have triggered drivers to go with larger SUVs and pick-up trucks. Automakers have been rushing to fulfill this growing demand and, as a result, sedans have been losing their share of the United States market for brand-new automobile sales – at 38 percent now against around 44 percent in 2015.
“If other automaker left the sedan market to focus more on SUVs, that would be a chance to expand our market share of the segment,” stated Camry’s chief engineer, Masato Katsumata, at the launch of the most recent Camry model in Japan.
Sedans and smaller sized models are a key U.S. sales sector for Toyota. In the first half of 2017, they represented for about 43.5 percent of Toyota’s overall, against 48.6 percent a year earlier.
Toyota is targeting month-to-month U.S. sales of 30,000 Camrys after the new model goes on sale in the next month.
In June, it sold 29,463 examples of the present Camry model in the country, reduction of 9.5 percent from a year earlier.