Toyota Motor Corp. was on a mission and they exceeded it. The car manufacturer produced slightly over 10 million vehicles onto showroom floors and car lots. For a foreign auto company, it has earned critical acclaim in the United States. Toyota sits at number three for the most purchased vehicle brand in the U.S., right behind grandfather of car makers, Ford Motor Co.
The quality review of the Toyota brand receives high marks from Americans. The car company is looking to make a dent in other markets as well. Toyota is currently trailing behind other large manufacturers in the European Union and it is looking to make an impact in the market.
For Toyota it was a winning situation. With a production of 10 million vehicles, breaking a record across the industry, the company depended on foreign markets. The manufacturer witnessed a decline trend of production needs in Japan. With its subsidiaries which encompass Hino Motors Ltd. and Daihatsu Motor Co. it cheered to the finish line. The manufacturer is looking forward to a robust future.
The success of the units being sold are sure to shadow over previous recalls. In 2012 Toyota met another record breaking list they never wanted to be on. The vehicle maker landed on the most recalled vehicles list for 2012, marking a third time in just four years. The biggest recall resided within mechanics that may had resulted in car fires. Two years prior to that event, 2009 and 2010 proved to be an excessively shadowed year for Toyota.
Toyota and Lexus model vehicles started reporting an issue that resulted in a fatal accident of an off-duty California Highway Patrol officer and his family. The issue was labeled as “unintended acceleration” which lead to throttles jamming in an open position. The lawsuits began mounting and in 2012, Toyota was mandated to issue $1.1 billion in settlement to various claimants.
Toyota sees 2013 as a milestone to start a fresh beginning. The company promises their output will increase in 2014, but they are not alone. General Motors Co. and Volkswagen AG may actually be closing in on their own records. The two companies have not reported their final data for 2013, but rumors suggests both companies may also be on the brink of closing out 2013 with 10 million vehicles manufactured.
Across the industry, including Nissan and Honda are reporting higher than average sales in 2013, marking what may be, a turn for the better in the economy. NBC News reports not only vehicles increased in sales in 2013, but housing also increased as well. Forecasters are estimating 2014 could prove to be real turnaround for the nation to finally escape the tendrils of the depressive state of sales from the past few years.
Double digit increases marked the turnaround for vehicle manufacturers and it appears the boost is extending to other industries. Bill Fay, the Toyota group’s Vice President and general manager stated he expects “car sales to” rise back to “pre-recession levels.”
Add in the increased technology being implemented within vehicles, customers can expect to have a more diverse choice of vehicles. The big winners are still being counted, but for now, Toyota owns the crown for producing over 10 million vehicle units in 2013.
Wall Street Journal