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Toyota To Get Back On Its Feet After Earthquake

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On: Wed, Sep 28, 2011 at 3:56PM | By: Chris Weiss


Toyota To Get Back On Its Feet After Earthquake

After being thoroughly ravaged by natural disaster—and having a little salt thrown in its wounds courtesy of Nissan—Toyota plans to have its sales back on track by next month. The automaker told Bloomberg that vehicle inventory at U.S. dealerships is moving back toward normal levels.

After March's earthquake, tsunami, and energy problems in Japan, Toyota was forced to stop production altogether and restart production at a reduced rate. Toyota sales began slipping in the United States due to inventory problems and image issues relating to the production problems. The company's market share slid 2.5 points as of last month. The events also caused Lexus, Toyota's luxury brand, to fall as luxury market leader after an 11-year run at the top.

But things are turning around, according to the automaker. Toyota announced a few days ago that North American production is back to 100 percent. In October, it expects to experience its first year-over-year sales increase since April. Vehicle inventories at U.S. dealerships are rising toward normal levels this month and wholesale vehicle orders are back at normal levels.

It appears that Toyota is back.

Toyota doesn't plan to increase sales incentives past the industry norm.




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