America is the largest auto market in the world and according to one statistics; around 800 cars are there in the U.S. against 1000 people. The market size is huge and no automaker can neglect this market. Toyota is a Japanese company but in the recent years has seen tremendous amount of growth and success in the U.S. market. On the other hand, major U.S. automakers like general motors are now in deep trouble and in fact, General Motors is at the brink of disaster and bankruptcy.
Because of the economic recession, most people in USA are afraid of their future and as a result, the car industry has seen significant decrease in sales in the last few months. So, Toyota officials are now thinking of changing the way they operate in the U.S. market and are going to decrease their capacities in America. There is no official confirmation about this matter but it is expected that tomorrow, an official announcement may come in the media by Toyota bosses.
There is nothing to be surprised about this matter but what I’d like to point out is that most automakers are only happy with the U.S. market but they do not try to expand their markets in Asian countries. It is true that most people in Asia are not rich but at the same time the market is growing and if the automakers can address the markets with cheaper and inexpensive affordable cars then the size of the market will increase a lot in this continent.
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Reuters
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