April a Tough Month for Toyota

2009toyotacorolla The sales numbers for April are in, and Toyota took a beating compared to last April’s sales. Down 42.2%, Toyota had a worse April 2009 than Ford (-31.6%), GM (-33.7%), Nissan (-37.8) and Honda (-24%).   

What’s causing the decline? Besides the fact that not one model posted a sales increase, we found these four factors within the sales numbers:

The New Toyota Corolla
When a company introduces an all-new model, it usually helps spur sales. Buyers happily gobbled up the old Corolla right up until the new model was released. The new Corolla’s sales, however, are down 42.9% from last April. Honda’s Civic — which was last redesigned three years ago — saw sales decline only 23.2% in the same time period. When your second-highest-volume vehicle sees such a sharp sales drop, it’s hard for new niche vehicles like the Venza to pick up the slack.

The Old Toyota Prius
Gas prices a year ago were $3.62 nationally. Today they’re $2.05. That helps explain the fact that Toyota Prius sales tanked 61%. Not normally a volume seller, Toyota sold a high number, 21,757, last April. That makes the decline even steeper. Take into account the fact that buyers are likely waiting for the all-new Prius to debut later this month, and you have a major loss in sales.

Lexus and Scion
Lexus as a brand was down 39.2%, but its five car models were down 47.8%. Toyota’s youth brand, Scion, saw sales drop 60% in April. While the Lexus numbers aren’t as bad, that brand makes more money per vehicle and sells less volume than Toyota. Scion, on the other hand, saw sales numbers for two-year-old models like the xB (-51.8%) and xD (-69.8%) drop significantly.

Trucks
Toyota’s light-truck division — including full-size pickups like the Tundra, SUVs like the Land Cruiser and even the Sienna minivan — saw sales drop 47.5%. Toyota is a full-line manufacturer like Ford and Chevy, and this segment of vehicles has been hit hard everywhere, but Toyota took a bigger hit this month because new versions of the Sequoia and the relatively new Tundra saw some success last year, even with gas prices rising. In comparison, Chevy’s light trucks saw sales drop only 20% in April.

What isn’t in the sales figures is consumer attitudes. Right now, many brands are offering huge incentives, even on newly designed vehicles, like the Chevy Traverse crossover. It had $2,250 cash back in April, and it became the best-selling midsize or full-size crossover on the market — better than both Honda’s Pilot and Toyota’s Highlander. Buyers may think the best deals can be had at other brands without ever getting around to checking regional incentives on Toyota models.

The sticker prices of cars like the Toyota Corolla may also dissuade buyers who can find better-equipped entry-level cars for less from companies like Kia.

Toyota’s vaunted reliability is still a major selling point, but it’s clearly not enough to compete right now. Toyota may have to get more aggressive in terms of its product and pricing to turn things around.

Comments 

Original sheth

I am loving all of this. What everyone has to realize is that much of Toyota's success is based on the premise that you are taking a risk if you purchase another brand from a reliability standpoint. If that myth ever subsides (and it that could be happening) Toyota is in trouble. When you remove the aura of superior reliability you are left with a stable of products with high prices, uncompetitive incentives and dull styling. If Hyundai, GM and Ford can convince the public that their products are as well made as Toyotas its going to be tough for Toyota to regain its footing without resorting to more incentives. The crazy thing is they are already providing more incentives than they ever have before and their sales are not responding. I guess those "Toyota quality saves you money" ads aren't resonating and people notice they provide no specifics to back up the ad.

PK

no wonder they can't sell their cars, if they trying to force you to buy their new Corolla LE for over 18k. I said thank you and left. No room for negotiations. Went to honda, got 2009 civic LX for 17,500 Out the door. Btw it was in Long Island, New York.

H

Read the rules:

Do not mention specific car dealers by name. Feel free to mention your city, state and brand.

maxwell

A slight correction: The article says "Buyers happily gobbled up the old Corolla at this time last year, despite its age."

Toyota introduced the redesigned 09 Corolla in March of 08. I know this because I bought a new car in the beginning of April 08 and the new Corolla was one of the cars I got a price on.

dee

its sad to see so many people dislike toyota everyone has ups and downs not to mention hondas transmission problems its going to be a tough year for everyone but toyota has more at stake then honda, toyota has more vehicles in its lineup so of course more problems with more vehicles its a proven fact toyota are more reliable, frugal etc... look it up jdpower, consumers reports, forbes etc...

maxwell,
yes, and I even talked about last year's super bowl ads! doh. They were selling well right up until the new model came out. At record levels even I believe. Fixed the above.

Original sheth

dee:

I think that Toyota/Honda reliability are pretty much a wash. If anything the advantage would go to Honda of late. Toyota has had numerous recalls and CR has noted quality issues on recently introduced models.

Tony

I think, PK has got it right!

When there is a choice between $18 Corolla and $13K Elantra with more... Hell with 2MPGs. $5K will cover it and more. Besides, Elantra drives like Corolla anyway. But I wouldn't phrase Honda. Their Civic is also overpriced. PK paid $17.5K for LX, which doesn't even have rear disk brakes and split-folding rear seat. This just kills me.

Toyota dealers have their noses up in the air. This is goos for all of us that their sales are dropping. May be they will realize that they have to fight for customers, not customers fight for cars.

To follow.
In April 2008, Corolla sales were down 7% compared to April 2007. That was the second full month of the new model going on sale, right in line with high gas prices, which should have sent more people to Corolla. Yaris and Prius obviously took some market share right within Toyota.

Yaris was up 45% that month
Prius over 50%

In May its sales did go up 12%
June 2008 up 30%
July up 7%
August 2008 down 3%

then came the economic issues.
Sept sales down 25% and so on.

Nic

Honestly who cares, this will not be a problem for Toyota. They obviously know how to run a business. GM, Ford, and Chrysler are the ones who are bankrupt because of their poor business skills, not because people are not buying cars. It was just the straw that broke the cammels back. It was a long time coming for them. Lets all do some homework.

Original sheth

NIC:

You might want to do some homework. Ford isn't bankrupt and has taken no loans. Toyota is poised to post their biggest loss in history with some estimating it could be $7B. Their sales have declined more than Honda and Hyunda since last fall. Ford only posted a $1.4B loss in the last quarter which is less than Honda's loss. I am more than confident Ford's loss will be FAR less than Toyota's.

Dave:

One issue Toyota is going to have is familar to GM- too many new models cannabilzing sales of existing models. How does Toyota think that that the Corolla/Matrix, Yaris,xB, xD, Prius, etc. aren't going to compete for the same customers? To many Toyota loyalists ANY Toyota will do. The Venza is going to have an impact on Highlander and RAV4 sales as well. The other story with Corolla sales is that they include the Matrix even though the Matrix isnt not identified as a Corolla. If we took the Matrix out the Civic's lead would be even larger.

Nic

Sheth you do a little more homework. If you take out all the sales from fleet cars that ford makes from police cars to rentals the loss would be much higher than Toyota. Toyota does not have to depend on fleet sales to stay afloat.

Maxwell

Nic: Sheth posted on financial losses, not on sales.

No matter whom you sell to, a loss is a loss and the bigger it is, the worse for the company.

Original sheth

No automaker "relies" on fleet sales since they make up the minority of sales for all automakers. Besides, fleet sales have nothing to do with the financial performance of Ford vs Toyota. Ford did pretty well last quarter and will likely outperform Toyota by a large margin.

All of the domestics have cut fleet sales over the last few years. Guess who has picked up the slack? Hyundai, Toyota and Nissan. Any visit to a rental car office will reveal that imports are common. IN addition, Toyota sells fleet vehicles to car sharing programs, taxis companies and governments. I've even seen Scions for pizza delivery. Trust me, I do my homework. Toyota is far more reliant on fleet sales than Honda. Hyunda is even worse though. I read that over 30% of Hyundai's sales are coming from fleets which partially explains their industry best performance this year.

Nic

Maxwell, I AM talking about financial losses. Financial losses would be higher for Ford without fleet sales is my point. I said nothing about amount of sales.

Tony

"...They[Toyota] obviously know how to run a business. GM, Ford, and Chrysler are the ones who are bankrupt because of their poor business skills...

Nic,
before posting a foolish statement like this, do some homework.
If you would read some of the automotive pros you would understand that Toyota has made bad business decisions.
In my opinion, they became too big and volnurable to down swings of the economy. They did everything to grow the production because the share of the market they conquested grew and number of units sold as well. But while share is remaining the same these days, the quantity of units might never be the same simply because people may never again will buy cars every 3 years. People tasted bad economy and now they know that keeping your old car as long as possible is the way to go.

So, I would say that Toyota is not perfect in their business decisions. They do make mistakes like everybody else. Their product is good but expensive. But shouldn't good product be expensive? The product - is what separates them from GM, ChryCo and Ford

I do my homework, too

This is not an accurate statement:
"Ford isn't bankrupt and has taken no loans."

People who do their homework would say:
Neither Ford nor GM is bankrupt and Ford has taken no government loans.

Ford took out a mess of loans before the meltdown in September and October of last year.

broq

the fleet argument is kinda dumb- yeah, there are more domestic cars going to fleet sales here; but guess how many are used for fleet in japan. none. They are all Japanese domestics. If you think about it- the imports probably have more cars used for fleet than Ford, GM, and Chrysler since they have rentals, cabs, police cars, government vehicles and other fleet sales here AND there.


Broq

Original sheth

"People who do their homework would say:
Neither Ford nor GM is bankrupt and Ford has taken no government loans."

I was talking about government loans obviously. I am aware Ford took loans from private entities. Most large companies take on debt to finance certain things. GM is not bankrupt officially but they would be if not for government money. It is true they have not declared Chapter 11 even though the ATF is steering them there as we speak.

Good point Broq. In Germany BMW and MB provide fleet vehicles since that is their home country. They arent going to buy Chevrolets for fleet use in GErmany just as most fleet vehicles here are going to be from American brands.

joel

iam a Toyota and Ford fan, no matter what, both companies are successful, hey at least toyota didnt go bankrupt and asking for loans unlike GM and chrysler, us Americans have way too much pride and we need to accept the fact that others are doing better than us, and plus in a few months Toyota will recover...........

Nic

Be nice. Why is it a "dumb" arguement? How much money do you think they make with fleet sales. It's a VERY profitable market and they are lucky to have as many fleet sales as they do. I bet Ford doesn't think it's "dumb". They are counting on it.

Nic

Tony I never said they were "perfect". No person nor business is. Everyone makes mistakes. My statement was a far cry from calling them perfect. They just seem to be having less problems than the big 3. All in all my point is that Toyota will be fine and they need not worry. Which is what this post tries to do. You guys take things to seriously and want to just chew someone out when they do not agree with you.

H

Nobody will be fine if people don't buy more new cars.

And revenue is revenue regardless of the source. Fleet sales are part of the business, an important part.

tscurt

The first comment cited high prices and dull styling. Dead on!!!!
E. G. : the Pontiac Vibe, with the right wheels, is far better looking than the Matrix it came from. Also cheaper.
Toyota needs to ddo something dramatic and do it fast, like go through the entire line-up ASAP and rethink how their product line looks, performs and costs.

C

The new Corolla was sterile from day 1 to begin with.
What's with the styling that looks just like the old one? That's what the Focus had been doing since 1999 for their 2000 model.
The so caller XRS model was no where close to the old one that they had. 2.4L with 158hp and 5MT? That's just a Scion tC sedan.

Steve

All I hear is about bankruptcy and government loans. Are you going to tell me that the Japanese government is not sunsidizing Toyota.

Toyota quality has hit the crapper. They are well below Ford and GM, but at least better the Chrysler. They have so many recalls, and that is just when they will admit that there is a problem with their cars.

They only got a good reputation because they always placed ads in magazines right next to the aricles where their cars were being reviewed.

Original sheth

Nic:

Things change QUICKLY when there is a major recession. Just last year (when gas was high) some in the Toyota loving US media were predicting Toyota was on the verge of passing GM in US sales. You dont hear talk like that anymore in spite of GM's weakened state. Now Toyota has to wonder if they can beat Ford out in US sales. Just last year Toyota was basking in record profits, now they are staring at a staggering loss which will be the worst of the Japanese automakers. Nothing is guaranteed and if you honestly believe Toyota will bounce back in a matter of months you should at least say why. Experts are already projecting Toyota will post a full year loss in 2010. You are forgetting that the Japanese market is doing horribly and there is little prospect for improvement there. Toyota is very reliant on the two weakest auto markets- US and Japan. They are much weaker in Europe and China. This is a competitive business and you can rest assured Hyundai, Ford and others will be looking to make the best out of Toyota's struggles. Toyota has done virtually everything that the Big 3 have been accused of doing and they will pay the price. They got too big for their own good.

Al G.

I agree with some of the previous posts. I think Toyota problem is due to the economy, and the fact that competition has closed in terms of value and reliability. Toyota makes some solid cars. My last 3 vehicle purchases all have been Toyota Camrys. There was a time I wouldn’t even think of buying another brand. However this time based on what I’ve been hearing and seeing, I’m intrigued at the other options out there. I will look and test-drive a Fusion, Accord, and Malibu before just going out and buying another Camry. Again I am not putting down Camry (a car that has been most reliable to me) however (esp in this economy) if I can buy another car from a Brand that has more style and just as reliable for a lower price then it may be worth my while to do it.

Original sheth

I read that Americans are obsessed with quality even though modern cars have few problems. Coversely, Europeans are more concerned about perceived quality and performance than they are about never visiting the dealer for a warranty repair. Toyota seems to be resting on its reputation for reliability and churning out mediocre cars (see Matrix) with higher than average prices. The dealers who act like they are doing you a favor are just icing on the cake. If people feel they can get a better looking car with virtually equal reliability for less money they are going to look into that. I have always maintained that Toyota is able to stay successful because many of its customers dont cross shop. I believe the economy and all the attention focused on the US auto industry is compelling people to compare and obviously many people are chosing not to buy Toyota. Will they lower prices or boost incentives? We shall see. Up until now they have maintained they dont need to because of their rep. I remember reading a quote from an arrogant Toyota rep in which he said GM's employee pricing sale had no impact on Toyota because Toyota customers were not potentialGM customers and thus they were unconcerned about what deals GM was offering. Speaks volumes.

dee

os:

you are totally wrong toyota did not get too big for there own good they outshined others do to the fact of reliability, quality, resale and so forth its no secret toyota slipped up in reliability in the past few years but mainly due to the camry v6 and tundra but those have been corrected what about gm and chrysler they have been producing the same hunkers for with little improvement i must say the malibu is a nice ride, and far as numbers corolla is only down 20.7% this same time last while civic is down 30.6%, camry down 36.4% and accord down 30.3%.

Al G.

OS says:
“I have always maintained that Toyota is able to stay successful because many of its customer’s don’t cross shop.”
I have to say in the past I was guilty of this. It was partially due to the fact that I had bad past experiences with American made cars. I was jaded for sure. When I went Toyota I had nothing but success. When it came time to upgrade I found that I had good trade in and or resale value. That kept me going back. However it seems times have changed.
I think Toyota can pull it around. They are a good company. It’s just now the competition is catching up to them in their value and reliability game. Domestics have gotten better. It has just taken time and getting informed for people (who have stuck to Foreign brands) to realize this. Forums on sites like this help.

to be fair, many analysts have said Toyota grew too fast recently in a chase to be the biggest automaker in the world. Their new CEO also said they want to lower the price of their cars as they've gotten too high. It seems they've acknowledged their mistakes.

Al G.

Dave T, and OS
Thanks for that tidbit. I didn't know that.

Original sheth

I have never heard anything about Toyota promising to lower prices. That is news to me. My experience has been that Toyota doesn't acknowledge mistakes or that problems even exist. For example, now they are claiming that Obama's call for Americans to consider American cars is part of their problem. A Toyota PR person said its inappropriate for Obama to make such comments. Never mind the fact that no one in Japan buys American branded vehicles. Here is the bottom line, if the US market was as dominated by domestics as the Japanese market Toyota would barely be in business. The last thing they want is for people to start believing that Ford and GM can compete with them in the US market. Even if they have admitted they grew too fast that doesn't solve the problem. They have already built the factories and hired the workers to build all these SUVs and pickups. You can't just unload those costs overnight.

Original sheth

dee:

There has been massive improvements over the past decade in GM product. GM has improved build quality, plant efficiency, interior design, exterior design and technology tremendously in the last 10 years. Everyone knows about the Malibu but there's also the CTS, Enclave/Acadia, G8, Aura, Corvette, Tahoe/Yukon, Vue, Silverado, Camaro, etc. There is more compellling product coming this year such as the SRX, Equinox, lacrosse and CTS wagon. No they are not making the "same old heaps".

Julio

I've just bought my second Scion and have been happy with Toyota. But dang, Seth. Is there nothing better for you to do but post here? We get the point you don't like Toyota. Others do. You won't change others feelings. And sure yours won't be changed. Bottom line, I stick to either Toyota or Nissan (had a 240 SX before).

SouthTX

I wonder how many Scions were bought with daddy's money.... toy cars...

Toyota has too many models and they cannibalize each other, same as happens with GM..

Toyota's cars are outrageously marked up...now they are feeling the bleak market and they don't realize that people doesn't have credit to buy as they used to. Example the Corolla/Matrix or the RAV.

They have been living in the

What about the plant in Mississippi? Did they receive money or just tax credits?

ali

I'm sorry but i have to comment on this poor reporting and the un-informed comments that people have posted in response.

Toyota sold 109.6K Retail and 17K Fleet
GM sold 109.2K retail and 63K Fleet
Ford sold 87K Retail and 46K Fleet

so Sheth when Ford sells more than half as many fleet as retail sales how can you say they are a small part of their mix? Toyota had the highest sales of any car maker in retail markets? Are you going to change your story now? Do you people even think before you make rabid comments?

ali

Oh and one more comment to Sheth: Ford hasn't taken any loans? really? they've mortgaged their f'ing logo buddy!! What UAW fantasy land are you in? they're up to their necks in debt, that's why they don't need the cash. i hate toyota's styling and ford and Gm have some beautiful cars out there but please think before going all misty-eyed and patriotic

maxwell

ali: Generally, when citing figures, it's nice to post a link to your source for those figures.

ali

unfortunately i can't provide the detailed data from Ward's without giving you my subscription info but if you choose to subscribe to Ward's please go to http://wardsauto.com/keydata/USSalesSummary0904/ there you can get the detailed industry data

$5 to the first person who can spot any post that isn't mindless, senseless, and off-topic bickering and bitching of Imports vs. Domestics.

Al

I was a very loyal Toyota customer leasing new ones over and over again until our Sienna started falling apart within 3 years and our new Avalon had more problems than our Pontiac 6000 had back in 1985. Toyota sales dealers have a horrible attitude, their service is terrible (they insist that their cars never have a problem) and Toyota corporate didn't give a hoot about our very real problems which is why we dumped the Toyotas and now drive Hondas and a Nissan. Toyota became arrogant and cut back on quality to squeeze more profit out of their cars, at the expense of the consumer. Getting anything done under warranty was like pulling teeth.
Now that Toyota quality is history, there are many other choices that offer better value and better quality for less money.
I knew it was just a matter of time before Toyota would fall from its perch. You can fool people only so long.
It is unlikely that I'll ever walk into a Toyota showroom again. I don't need the aggravation.

Dan

Billy4202-

Yours.

Can I have my $5 now? :)

Al G.

Al,
Wow! I have not had such problems with my Toyotas. I've owned a few of them and they have all been great. I owned a 86 Pontiac 6000 that was nightmare. Too bad a Toyota would have more problems than a 6000.
I do have to admit the quality of materials used in recent Toyotas are not as good as they used to be. I have seen many reviews and blogs speaking of this. Also I have seen this for myself. Recently at a car show I was quite suprised to see how cheaply made the interior of the new Matrix was. This slip in quality will hurt Toyota. Especially since quality was one of their hallamarks. Hopefully Toyota will pick up the quality. If Toyota does not then reports of them loosing sales will continue. As loyal customers will shop elsewhere.

Original sheth

Julio:

I dont have a problem with Toyota, I have a problem with people acting like they are not prone to mistakes and failures just like other car companies. Its a shame that you are proud of the fact that you wont consider anything not made by Toyota or Nissan. I don't see that as an enviable trait.

ali:

1. You provided no source for the info so I have no idea where you got those figures. Automakers dont disclose exact fleet numbers in monthly sales releases.
2. I never said Ford outsold Toyota in fleets. I said that Toyota, Nissan and Hyundai have been ramping up fleet sales.
3. You need to learn the difference between rental sales and government/corporate sales. Rental sales are the ones that hurt resale value and thats what the imports do for the most part. The imports have little presence in the government, corporate or livery fleet markets.

Original sheth

ali:

I am the least patriotic person you know, trust me. This is about jobs and engineering capability, not flag waving. Get a grip. NO first rate country lacks a viable auto industry. Americans should be no less willing to buy native products than Germans, French or the Japanese. Thats my point. If good product is available from domestic manufacturers in those countries people buy the product. ONly in the US do people go out of their way to make excuses about why they wont buy domestic brands. The fact that there are few factories in the US owned by Toyota and Honda has convinced some that they are "American" companies. They are no more American than GM is European due to the fact that there are GM plants churning out Opels in Europe. It would be disgraceful for this country to become nothing more than a final assembly point for vehicles designed and engineered in Germany, Korea and Japan.

Original sheth

Al:

I have NEVER heard anything positive about the buying or service experience at Toyota. Basically if your vehicle is reliable you dont deal with the service dept too often and you likely are satisfied. If you have issues it seems like there is a lot of denial and refusal to accomodate customers. In this competitive environemnt dealer arrogance can be a deal breaker. Big 3 arrogance in the 70s and 80s cost them big time. I've seen nothing suggesting Toyota isn't going down the same road.

j

Just bought a 2009 Corolla S with an MSRP of $20,780. Paid $15,100 (which included a $1000 college grad rebate). No other car company offers that much college grad rebate. Even without it, I couldn't buy a Civic EX (or LX) for $16,100.

Original sheth

Until Toyota and Nissan got into the incentive game we were told that they damage resale value and brand perception. If it was true when Detroit was leading in incentives 3-4 years back its still true now. Toyota is eroding its future resale value edge via fleet sales and rebates. They just announced they will be rolling out more aggressive discounts after April's results.

freethinker

Honda as a matter of policy does not do fleet sales to rental car companies. Toyota limits them to 10% of sales, and so gives rental outfits only a small discount compared to the other manufacturers. Kia and Hyundai are aggressive in their rental car pricing, because they calculated that many Americans would never choose to set foot in their products otherwise.

Rental companies sell large quantities of high mileage vehicles each year, resulting in significant depreciation for all the same models sold from other sources. In large part due to their policy regarding rental cars, Honda resale values are slightly higher than Toyota.

Al G.

OS,
I have owned and own a Toyota. Maybe it depends on the dealership but I have never had problems when it came to buying a car from the dealership. As far as service: Once I had a problem with my car, I took it in as it was under warranty. The Dealership not only acknowledged and resolved the issue but also adjusted the brakes for me free of charge. However I have to admit I have heard others who have had issues with Toyotas dealership s denying and or not helping customers with their problems with problems. However I must say on the other hand I have heard some of these same dealership issues from people who own cars from other companies. Denial of Service from the dealership could be a deal breaker if it happened to me no matter what the Brand. Toyota will have to be more accommodating to folks if they want the customer to return.

Al G.

OS,
I have owned and own a Toyota. Maybe it depends on the dealership but I have never had problems when it came to buying a car from the dealership. As far as service: Once I had a problem with my car, I took it in as it was under warranty. The Dealership not only acknowledged and resolved the issue but also adjusted the brakes for me free of charge. However I have to admit I have heard others who have had issues with Toyotas dealership s denying and or not helping customers with their problems with problems. However I must say on the other hand I have heard some of these same dealership issues from people who own cars from other companies. Denial of Service from the dealership could be a deal breaker if it happened to me no matter what the Brand. Toyota will have to be more accommodating to folks if they want the customer to return. Looks like Toyota needs their customers more now than ever.

Original sheth

I cant see the last three comments here from AL. G and freethinker. Where are they?

Julio

Define what you consider as enviable, Sheth. I don't go by your standards. I've driven a Ford Escort and saw my family bought American cars that have gone to utter trash. The only thing I would buy American which has a solid reputation are trucks like the Silverado and F150 my dad HAD. Now he has a newer F150 and Toyota Tundra. I'm not a truck guy. Hence my pick for a coupe. I label you nothing, other than an obvious form of closemindedness that you so utterly possess.

DodgeFan

I think whats really killing sells is that people are waking up on how long a car can truly last. Even with sometimes high maintenance bills, a used car is still cheaper than a new car. The problem is that most people who constantly buy new cars have never felt the higher repair bills required to maintain an older vehicle. But people will learn since a new car is just to much. Cars can last a long time depending on how much you drive and constant maintaince. Even Toyota's fall from quality, their vehicles can still last a decade and so can other automakers.

J

OS says
"I have never heard anything about Toyota promising to lower prices. That is news to me. My experience has been that Toyota doesn't acknowledge mistakes or that problems even exist. For example, now they are claiming that Obama's call for Americans to consider American cars is part of their problem. A Toyota PR person said its inappropriate for Obama to make such comments. Never mind the fact that no one in Japan buys American branded vehicles. Here is the bottom line, if the US market was as dominated by domestics as the Japanese market Toyota would barely be in business. The last thing they want is for people to start believing that Ford and GM can compete with them in the US market. Even if they have admitted they grew too fast that doesn't solve the problem. They have already built the factories and hired the workers to build all these SUVs and pickups. You can't just unload those costs overnight."

Best joke of the day.
Obama made that comment was against capitalism that shaped our country. Japanese don't buy American branded vehicles because they are either too loyal to their country or they are not buying garbage whichever it is. How is that Toyota's fault is a joke to me.
Not to forget to mention that Ford and GM can actually compete? That's the final icing on the cake of such a big joke.

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