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Toyota eyes bigger share of US sedan market through the new 2017 camry

The automaker said it was "inconceivable" that mid-size sedans would disappear from the market, and that any move by its rivals to stop selling what was once among the most popular vehicles would allow Toyota to boost its presence.

July 11, 2017 / 09:44 AM IST
Disney | Brand Value: USD 41.1 billion | Brand Revenue: USD 168.8 billion | Industry:  Automotive

Disney | Brand Value: USD 41.1 billion | Brand Revenue: USD 168.8 billion | Industry: Automotive

Toyota Motor Corp said it was committed to the ailing US sedan market and that it expected a new model of its Camry, the top-selling passenger car in the United States for decades, to help boost the company's sales in the segment.

The automaker said it was "inconceivable" that mid-size sedans would disappear from the market, and that any move by its rivals to stop selling what was once among the most popular vehicles would allow Toyota to boost its presence.

Cheap U.S. gasoline prices have prompted drivers to opt for larger SUVs and pick-up trucks. Automakers have been scrambling to meet this growing demand and, as a result, sedans have been losing their share of the U.S. market for new car sales - at 38 percent now versus around 44 percent in 2015.

"If other automakers left the sedan market to focus more on SUVs, that would be an opportunity to expand our market share of the segment," Camry's chief engineer, Masato Katsumata, said at the launch of the latest Camry model in Japan.
first published: Jul 11, 2017 09:44 am

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