Filed under: SUVs, Trucks/Pickups, Hirings/Firings/Layoffs, Toyota, Earnings/Financials Toyota posted a 10% sales decline for its bread-and-butter brand of over the month of June, with numbers that are even worse -- an 11.5% drop -- when the Scion and Lexus brands are added into the equation. In response to these very un-Toyota-like sales declines, the automaker is now revamping its vehicle production in the States. Though it has already introduced measures to slow the production of full-size Tundra trucks and Sequoia SUVs, reports indicate the further cuts will be made at the San Antonio truck plant. The Indiana plant, which also produces Tundras, will see workers transferred to other lines where more popular vehicles are assembled. Even plants in Japan that export vehicles to the U.S. could be affected. Toyota is hardly used to seeing double-digit drops in sales in the U.S., so it will be interesting to see how the giant Japanese automaker responds in the months to come.
With the economy being the way it is, and gas prices soaring I can understand why vehicle sales may be slowing down in general- no one wants to be paying for a car and gas when the gas bill is already in the territory of a new car payment- better mileage or not.
But timing is everything, and with the new Venza yet to be released, I don't think 11% is much to worry about- especially compared to GM's stock plummeting to 75% of what it was 9 months ago.
Though it would be a conservative and smart move on their part to brace for a general decline in sales- especially until [crosses fingers] the gas prices level off or decline. With their reputation for gas mileage and reliability I wouldn't doubt that Toyota has little to worry about, especially compared to GM, Chrysler, and Ford- who all seem to have gone gas-crazy in the last few years despite their obvious green-washing attempts
Last edited by sherwood; 07-06-08 at 12:49 AM.
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Toyota posted a 10% sales decline for its bread-and-butter brand of over the month of June, with numbers that are even worse -- an 11.5% drop -- when the Scion and Lexus brands are added into the equation. In response to these very un-Toyota-like sales declines, the automaker is now revamping its vehicle production in the States. Though it has already introduced measures to slow the production of full-size Tundra trucks and Sequoia SUVs, reports indicate the further cuts will be made at the San Antonio truck plant. The Indiana plant, which also produces Tundras, will see workers transferred to other lines where more popular vehicles are assembled. Even plants in Japan that export vehicles to the U.S. could be affected. Toyota is hardly used to seeing double-digit drops in sales in the U.S., so it will be interesting to see how the giant Japanese automaker responds in the months to come.
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