Declining auto sales in the US have forced many automakers to make cutbacks and to rethink their current lineups. Until now this did not include Toyota which continues to sell record levels of its Prius, Camry and Yaris vehicles.
Just as GM is having to cut its SUV and truck production, Toyota is also dealing with the fact that the automaker misjudged the US market. Thanks to the slowing economy and record gas prices, large trucks and SUVs are no longer desirable by car buyers. Since Toyota misjudged the market the current inventory of these vehicles has reached record levels. The number of units at dealerships and on the way to dealerships has increased to 376,000, that’s 100K more than last summer and up from 348,000 last year.
February was the highest dealer stock in the history of our region in terms of gross units,” said a Toyota dealer in the Southeast region. “I don’t think we have hit an objective since July or August.”
Full Story: eGMCarTech
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