Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
News18 » Auto
1-min read

Toyota Eyes Bigger Share of US Sedan Market Through The New 2017 Camry

Toyota is targeting monthly U.S. sales of 30,000 Camrys after the new model goes on sale in August.

Reuters

Updated:July 11, 2017, 8:41 AM IST
facebookTwitterskypewhatsapp
Toyota Eyes Bigger Share of US Sedan Market Through The New 2017 Camry
Toyota Camry sedan is seen at a news conference for the car's unveiling in Japan. (Image: Reuters)

Toyota Motor Corp on Monday said it was committed to the ailing U.S. sedan market and that it expected a new model of its Camry, the top-selling passenger car in the United States for decades, to help boost the company's sales in the segment. The automaker said it was "inconceivable" that mid-size sedans would disappear from the market, and that any move by its rivals to stop selling what was once among the most popular vehicles would allow Toyota to boost its presence. Cheap U.S. gasoline prices have prompted drivers to opt for larger SUVs and pick-up trucks. Automakers have been scrambling to meet this growing demand and, as a result, sedans have been losing their share of the U.S. market for new car sales - at 38 percent now versus around 44 percent in 2015.

"If other automakers left the sedan market to focus more on SUVs, that would be an opportunity to expand our market share of the segment," Camry's chief engineer, Masato Katsumata, said at the launch of the latest Camry model in Japan.

Sedans and smaller models are a key U.S. sales segment for Toyota. In the first half of 2017, they accounted for about 43.5 percent of Toyota's total sales, versus 48.6 percent a year ago.

Toyota is targeting monthly U.S. sales of 30,000 Camrys after the new model goes on sale in August.

In June, it sold 29,463 units of the current Camry model in the United States, down 9.5 percent from a year ago.

"Sedans are not a growth segment these days, but we want the new Camry to rehabilitate the segment," said Moritaka Yoshida, president of Toyota's in-house mid-size vehicle company.

Also Read: 2017 Audi A8 to Use Cameras for Adaptive Suspension System

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Ayushmann Chawla
Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results