agent Entrepreneur logo
MenuMENU
SearchSEARCH

Toyota Sees U.S. Auto Sales up in 2011

November 16, 2010
3 min to read



LOS ANGELES - Toyota Motor Corp. sees U.S. new light vehicle sales rising as much as 13 percent next year, buoyed by several factors including a slight rise in sales of pickup trucks, a top Toyota U.S. executive said.


Bob Carter, sales chief for the Toyota brand in the United States, said the company expects 2011 industry sales at between 12.5 million and 12.9 million, up from this year's expected rate of 11.4 million to 11.5 million.

Ad Loading...


However, Carter told the Reuters Global Autos Summit in Los Angeles on Monday that low consumer confidence continues to be a drag.


"Consumer confidence is still what's dragging down the market," said Carter, who said buyers are more cautious about taking on debt.


U.S. sales are slowly recovering from the low of 10.4 million new cars and trucks sold in 2009, after a 10-year stretch when annual sales averaged 16.4 million vehicles.


For Toyota in the U.S. market, things are looking up after a spate of safety recalls that began a year ago and had their biggest erosion for sales in March to May, Carter said. Autodata figures show that through October, Toyota's U.S. sales are nearly flat while the U.S. market is up nearly 11 percent.


Of the nearly 14 million recalls of Toyota vehicles worldwide in the past 12 months, about 11 million were in the United States, the automaker's top market.

Ad Loading...


Carter said that before the recall - he called it a "media firestorm" - about 55 percent of Toyota new-vehicle buyers were new or returning to the brand. That figure dropped to "the low 40s" percent in a 90-day period from March to May, Carter said.


Toyota President Akio Toyoda testified before a U.S. congressional committee on its safety recalls in late February.


"This has been the most challenging year that Toyota has faced," Carter said. "Overall, we are confident our challenges are behind us."


Carter said new customers buying Toyotas accounted for 57 percent to 58 percent of new vehicle sales, near the pre-recall average near 55 percent.


"Our brand is recovering nicely," Carter said.

Ad Loading...


A strong Japanese yen may cause the automaker to have moderate price increases for vehicles imported to the U.S. market, Carter said.


Even with a strong yen, Toyota will continue to set prices primarily based on consumer demand, he said.


In October, trucks made up more than 52 percent of the overall new vehicle sales. Carter said he expects the market to return and stabilize at its normal rate of about half cars, half trucks.


Carter said consumer sales incentives are seen as a short-term fix and that Toyota used them as a way to overcome a falling public perception. He has said that incentives will rise for the last two months of the year in part for cyclical factors and not because of the recalls.


"Most if not all of our incentives are in (interest rate) reductions or leasing," Carter said.

Ad Loading...


Carter said upfront cash rebates may help sales but they hurt residual values.


In his forecast for 2011 sales, Carter sees an advantage for Toyota in the return of balance from fleet sales to retail sales. Toyota leads in U.S. retail sales and its ratio of fleet sales to its total sales is near 9 percent.


More Industry

Photo of two men in suit jackets shaking hands next to new car inside of a dealership
IndustryApril 23, 2026

A New Consumer Culture in the Auto Dealership

Dealers should aim to build a positive work environment, helping employees execute an efficient experience, from their online research to the final delivery of the vehicle.

Read More →
Closeup of the side of an Audi car
Industryby Hannah MitchellApril 23, 2026

New-Vehicle Sales Down

A cloudy April forecast was expected due to last April’s sales surge in anticipation of U.S. trade tariff-inflated prices. Meanwhile, automakers pumped up incentives to address today’s consumer wallet woes.

Read More →
Photo of Cadillac Lyriq SUV on road with partly cloudy sky in background
Industryby Hannah MitchellApril 16, 2026

Used Autos Selling for More

A recent price spike due to several larger market forces, though it hasn’t dulled demand, is pushing more consumers to efficient models to squeeze in buys.

Read More →
Ad Loading...
Photo of facade of Waldorf Toyota car dealership
Industryby Hannah MitchellApril 16, 2026

Maryland Auto Group Sells

A group out West picked up the major D.C.-area collection, putting it in the upper tiers of private automotive groups in the U.S.

Read More →
Line graphic showing Cox Automotive's March Credit Availability Index status
Industryby Hannah MitchellApril 13, 2026

Auto Lending Opens Up in March

Lenders loosened access for subprime borrowers, and consumers with negative equity reached a record high, Cox Automotive reported.

Read More →
electric vehicle next to an urban charging station. EV Demand Diverges. F&I and Showroom logo
Industryby Lauren LawrenceApril 10, 2026

EV Interest Varies Regionally

U.S. consumer interest in electric vehicles lags behind other countries despite the rising gas prices caused by the ongoing war in the Middle East.

Read More →
Ad Loading...
Photo of the rear of a Mercedes GLC 400 electric SUV with a skyline in the background
Industryby Hannah MitchellApril 10, 2026

Brands Weighed on Projected Recalls

Research reveals the brands and models most likely to have higher recall rates over their lifetimes. While some brands rank high, addressing safety issues can be a selling point.

Read More →
Photo of white 2026 Ford Bronco on a sandy beach
Industryby Hannah MitchellApril 10, 2026

March New-Vehicle Sales Don’t Reflect War

Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.

Read More →
Photo of several cars on lifts in a service center
Industryby Hannah MitchellApril 9, 2026

Franchised Dealers Stand to Gain Service Business

Cox Automotive research shows both the opportunities and the challenges in turning consumers’ growing affordability needs into increased fixed-operations revenue.

Read More →
Ad Loading...
Photo of office desk with open laptop on it and an empty chair next to it
IndustryApril 9, 2026

What Matters Most in Building Your Agency

The partner you choose for growth and expansion is key, because better is the ultimate goal instead of growth for growth’s sake.

Read More →