Toyota has reported excellent sales of $17.9 billion for financial year of 2013 driven by recovery in several of its existing and new markets. During recent announcement of its sales plans for the future while showcasing its future models Toyota’s head of sales stated that during 2013 it achieved international sales target of 847,530 units and declared that it aims to sell more numbers in forthcoming years. Japanese carmakers like Toyota, Nissan, Honda, Izuzu and several others have enjoyed great profits in past couple of years with exports as sharp drop in Japanese currency has increased value of their repatriated profits. Also sales in key markets like United States and China has grown as Japanese cars were cheaper and are of better quality too.
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Toyota’s results can also be attributed to redeployment of Camry and Corolla models whose hybrid variants were in high demand along with other models which helped overall sales levels increase by 16.4 percent within this financial year. During announcement of these buoyant numbers Toyota also stated that strong cost cuts and stringent quality standards ensured that its sales remained unhindered across Europe and United States. In the past years Toyota had to face several recalls due to mechanical faults which affected its reputation and profits. The prolonged recession in these traditional markets had also forced it to expand sales into new markets and also development of inexpensive models which can be sold in emerging markets. Toyota is aiming to meet targets similar to those set by Volkswagen of selling 10 million cars per annum from 2018 onwards.
This high sales turnover helped Toyota regain title of world’s largest automaker which had been dealt with a severe blow in past years due to tsunami related problems and diplomatic spat with China which is one of its biggest markets. According to recent announcement by Toyota’s head of operations at Europe, the firm aims to grow market share in the area by 4.7% annually by introduction of new technologically advanced models which are based on years of research and development. He also stated that firm will be concentrating on profitability and achieving sales target of one million units within one financial year. Though unstable currencies of nations like Russia had a negative impact on Toyota’s sales during 2013 but had not affected operations or demand in American markets which have slowly increased.
Toyota’s future growth in markets around the world be it Europe, America, Africa or Asia would be driven by better models, stellar after sales service, reasonable price level and above all timely delivery of booked orders. Therefore Toyota’s executive body which began restructuring European business has streamlined all operations to make it profitable. Toyota has an unsullied reputation as maker of world’s best hybrid cars therefore it was able to sell almost 156,00 hybrid cars in Europe during financial year of 2013. The carmaker has also introduced hybrid version of Yaris and Auris models which will be sold to 56 nations across Europe. Toyota has witnessed steady growth from 2013 which has helped its sales team meet growth targets and also infused confidence of slow demand recovery.
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