Toyota (TM) made a cut in its forecast for car sales during its fiscal year. It was an extremely modest cut, given the troubles in the global car market, especially the US.
According to MarketWatch, "The automaker forecast sales for the full year in the lower 9.5 million unit range, down from the previously targeted goal of 9.85 million cars and trucks."
Wall St would be hard pressed to find a big car company which is willing to stick to what is still a remarkably lofty goal. But, that is an indication of how much distance Toyota has put between itself and all of its rivals.
Product development and manufacturing efficiency have long been the primary components of Toyota’s successful formula. But, product has now taken the lead. With fuel prices spiking up everywhere, the company’s aggressive move to hybrids and other small cars is allowing the Japanese firm to take market share to offset being part of an industry which is losing new customers at an astonishing rate.
To make matters more troubling for the competition, Toyota not only has an array of hybrids. It is likely to be early to market with electric cars run by super-efficient batteries.
Toyota may have lowered its forecast just so it can beat it.
Douglas A. McIntyre
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