Toyota outsells Ford worldwide
11-11-2003, 10:09 AM
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Toyota outsells Ford worldwide
I read last week that Toyotas market cap was now greater than GM (GM), FORD (F) and CHRYSLER GROUP (DCX) combined.
Today I found this. The big Three in the USA since August has been GM, Ford and Toyota (not Chrysler).
Looks like Toyota is on target to beat GM and be the biggest auto company worldwide by 2010.
Business - USATODAY.com
Toyota outsells Ford worldwide
Tue Nov 11, 7:07 AM ET Add Business - USATODAY.com to My Yahoo!
By David Kiley, USA TODAY
Toyota (TM) outsold Ford Motor (F) worldwide in the last six months for the first time, and import automakers likely will grab a record of more than 25% of U.S. truck sales this year, both signs of the continuing challenge domestic automakers face from abroad.
Among the worries for Detroit is the image that the surge by foreign automakers creates. Consumers might not consciously buy brands based on sales trends, but marketing and auto industry analysts agree that bragging rights matter.
"The imports have tremendous momentum, and that is expanding the image gap between Detroit and companies like Toyota and Honda," says Jeff Schuster of research firm J.D. Power and Associates.
"Sales leadership matters to dealers, employees and ultimately the customers in how they think about the company selling them a car," says Joe Phillippi of AutoTrends Consulting. "Consumers like brands that win."
General Motors (GM), Ford and Chrysler Group (DCX) , struggling to make any profit this year from auto sales, are hoping for an image rebound with an onslaught of new products in 2004 and 2005. Ford and Chrysler are each launching 10 products in 2004. GM has 29 products hitting the market in 2004 and 2005.
But even if the cars and trucks are successful, the slide in image won't reverse overnight.
"Moving our brand image only happens with new product, and it won't happen from one month to another," acknowledges Chrysler CEO Dieter Zetsche. "It will take many years."
Passing Ford globally — or Chrysler in U.S. sales, as it did in August — is a symbolic milestone for Toyota. But for the U.S. automakers, losing truck share to rivals is a harsher financial reality, because what scant profits U.S. automakers earn today from auto sales come entirely from pickups and sport-utility vehicles.
From 1990 to 1998, domestic brands had at least 83% of the truck market. In October, that share reached a low of 73%. Toyota, for one, has added SUV models faster than GM's Chevy division or the Ford brand, despite having a smaller market share.
"About five years ago, we lost momentum and our focus, and put energy into a lot of other stuff that hasn't put enough new product in the showroom. Lesson learned," says Ford sales analyst George Pipas.
It's not that there is no good news for Detroit. Consumer Reports recently added a flock of GM and Ford models to its recommended list. Several GM models beat Toyota and Honda (HMC) models on Power's survey of problems in the first 90 days of ownership. Chevy sells more vehicles priced above $30,000 than any other car company because of the popularity of its top-priced pickups and SUVs.
But in every category except pickups and large SUVs, U.S. automakers are playing catch-up in image with smaller rivals.
"Imports crossing the 25% mark in trucks has to be a wake-up call for Detroit," says J.D. Power's Schuster.
Today I found this. The big Three in the USA since August has been GM, Ford and Toyota (not Chrysler).
Looks like Toyota is on target to beat GM and be the biggest auto company worldwide by 2010.
Business - USATODAY.com
Toyota outsells Ford worldwide
Tue Nov 11, 7:07 AM ET Add Business - USATODAY.com to My Yahoo!
By David Kiley, USA TODAY
Toyota (TM) outsold Ford Motor (F) worldwide in the last six months for the first time, and import automakers likely will grab a record of more than 25% of U.S. truck sales this year, both signs of the continuing challenge domestic automakers face from abroad.
Among the worries for Detroit is the image that the surge by foreign automakers creates. Consumers might not consciously buy brands based on sales trends, but marketing and auto industry analysts agree that bragging rights matter.
"The imports have tremendous momentum, and that is expanding the image gap between Detroit and companies like Toyota and Honda," says Jeff Schuster of research firm J.D. Power and Associates.
"Sales leadership matters to dealers, employees and ultimately the customers in how they think about the company selling them a car," says Joe Phillippi of AutoTrends Consulting. "Consumers like brands that win."
General Motors (GM), Ford and Chrysler Group (DCX) , struggling to make any profit this year from auto sales, are hoping for an image rebound with an onslaught of new products in 2004 and 2005. Ford and Chrysler are each launching 10 products in 2004. GM has 29 products hitting the market in 2004 and 2005.
But even if the cars and trucks are successful, the slide in image won't reverse overnight.
"Moving our brand image only happens with new product, and it won't happen from one month to another," acknowledges Chrysler CEO Dieter Zetsche. "It will take many years."
Passing Ford globally — or Chrysler in U.S. sales, as it did in August — is a symbolic milestone for Toyota. But for the U.S. automakers, losing truck share to rivals is a harsher financial reality, because what scant profits U.S. automakers earn today from auto sales come entirely from pickups and sport-utility vehicles.
From 1990 to 1998, domestic brands had at least 83% of the truck market. In October, that share reached a low of 73%. Toyota, for one, has added SUV models faster than GM's Chevy division or the Ford brand, despite having a smaller market share.
"About five years ago, we lost momentum and our focus, and put energy into a lot of other stuff that hasn't put enough new product in the showroom. Lesson learned," says Ford sales analyst George Pipas.
It's not that there is no good news for Detroit. Consumer Reports recently added a flock of GM and Ford models to its recommended list. Several GM models beat Toyota and Honda (HMC) models on Power's survey of problems in the first 90 days of ownership. Chevy sells more vehicles priced above $30,000 than any other car company because of the popularity of its top-priced pickups and SUVs.
But in every category except pickups and large SUVs, U.S. automakers are playing catch-up in image with smaller rivals.
"Imports crossing the 25% mark in trucks has to be a wake-up call for Detroit," says J.D. Power's Schuster.
11-11-2003, 11:33 AM
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Mazda Mole
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I think this was inevitable.
Word Association:
Honda & Toyota = High-Tech, Eco-Friendly, Reliable
GM & Ford = Gas-Guzzling, Low-Tech, Poor Quality.
hmmm...
Magic8
Word Association:
Honda & Toyota = High-Tech, Eco-Friendly, Reliable
GM & Ford = Gas-Guzzling, Low-Tech, Poor Quality.
hmmm...
Magic8
11-11-2003, 02:02 PM
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GM is the largest auto company in the world with 15% global market share (they own Opel/Vauxhall in Europe as well as Saab and others). Toyota currently has 10% global market share and is aiming for 15% by 2010. BMW is tiny in comparison.
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