Sunday, May 25, 2008

Toyota to Introduce New Cars in Germany in 2009 to Regain Market Share

Toyota motor corporation is now worried about the losses in market share in Germany. The Japanese car maker experienced a decrease in its market share in the first quarter of the year compared to the same period of 2007. In the first quarter, Toyota had market share of 3.6 percent, a clear drop from 4.2 percent of the similar period of last year. Company bosses think that Toyota faced decreased market share due to lack of new product in the market.

Having seen the loss, Toyota decided to launch a number of new models in Germany next year, besides some updated models of the existing vehicles. In fact, six new models are expected to hit the car market of Germany, while nine upgraded vehicles of the existing models will also be introduced in the country in 2009.

Forbes reported:

Toyota (nyse: TM - news - people )'s share of the German car market dropped to 3.6 percent in the first quarter of this year, down from 4.2 percent in 2007, he said in an interview to be published Monday.

The expected market share at the end of 2008 will be closer to 3.6 percent than to 4.2 percent due to a lack of new products he added.

Germany is one of the notable car markets in the world. So, naturally Toyota can not afford to any more loss in the car market of Germany. Toyota is one of the most popular car brands across the world and one of the big players in the global car market. Now, let us see if Toyota can revive its success in Germany next year. I think, if the models are introduced by next year, the company would be able to regain its market share, but still, it depends on the activities and success of its competitors.