Due to new models, pending demands in the U.S. market and low interest rates, Toyota Motors Corporation’s U.S. sales subsidiary is expecting a slight increase in forecast this year.
The company expects the 2012 U.S. vehicle sales to reach 2 million vehicles (cars as well as light trucks). This is an increase from the last year’s 18 percent forecast as mentioned by Bob Carter, the Sr. Vice President of Toyota Motor Sales. In early 2012, the manufacturer had forecast its yearly sales of 1.9 million vehicles. Carter in his statement made at J.P. Morgan Auto Conference adds that the confidence of American consumers is the “wild card” for this year and the manufacturer is sticking with its forecast for overall industry sales that have been forecast at 14.3 million vehicles.
After the dreadful natural disaster occurred last year in Japan, Toyota faced a lot of delay and loss in its business. For 2012, Toyota has planned to launch a series of 19 new and refurbished cars that will also include a new Toyota Avalon sedan version and one hybrid version. Two electric cars have also been planned by the automaker to launch this year where the cars will be powered by Scion iQ battery. A RAV4 SUV is also on the list.
Despite this, Toyota also plans modest sales of its electric vehicles and expects that the hybrid versions will remain as core competitor to get the advanced vehicle technology. Carter says “electric vehicles of Toyota will have a limited role until the cost of the batteries drops and the driving range grows”. So far, 143,000 Toyota Prius hybrids have been sold this year as compared to the 3,900 Nissan Leafs sold in U.S. Carter said that the manufacturer will invest $1.6 billion this year in the U.S. to increase production. As of now, the company sells 76 percent of cars that are produced in U.S. region.