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

Foreign Cars Italia dealership store in front of sunset
Industryby Hannah MitchellJuly 2, 2026

Luxe N.C. Dealerships Change Hands

A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.

Read More →
inside of car, person with hands on black steering wheel
Industryby Lauren LawrenceJuly 2, 2026

Exposure Drives Interest in Chinese Cars

At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.

Read More →
Woman's hands holding an wallet empty of cash
Industryby Hannah MitchellJuly 1, 2026

Automotive Consumers Sink Further in Debt

Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.

Read More →
Ad Loading...
Rob Mancuso sitting in a chair on stage
Industryby Hannah MitchellJuly 1, 2026

Agent Advocate

Rob Mancuso, who comes from a long line of auto dealers, values general agents’ place in the industry and makes a case for them taking an even bigger seat at the table.

Read More →
Photo of a touchscreen on a car's dashboard
Industryby Hannah MitchellJune 25, 2026

Driving Under Distraction

Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.

Read More →
split background green and blue. 2019 to 2025 with car going from starting location to end point. $37,310 and $48,402. Agent Entrepreneur logo
Industryby Lauren LawrenceJune 25, 2026

Affordable New Cars a Thing of the Past

More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.

Read More →
Ad Loading...
Photo of multiple new SUVs on a car dealership lot
Industryby Hannah MitchellJune 22, 2026

State Follows Federal Warning on Auto Ads

The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.

Read More →
Gas pumps.
Industryby Lauren LawrenceJune 15, 2026

Consumer Outlook on the Rise

Younger generations are feeling more positive about their financial futures and current affordability pressures than older generations, according to recent TransUnion data.

Read More →
Group photo of men outside storefront.
Industryby Hannah MitchellMay 28, 2026

Pennsylvania Dealership Under New Retailers

The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.

Read More →
Ad Loading...
Hallway with lockered wiring and computer
Industryby Lauren LawrenceMay 28, 2026

Battery Storage Takes Priority Over EVs

U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.

Read More →
Ad Loading...