Toyota Motor Corp. Expects Sales Rebound Beginning October
After a series of recalls due to faulty parts on existing models and reduced production after Japan's earthquake and tsunami, Toyota Motor Corp says it has high hopes of swing back to profitability from its U.S. sales beginning in October.
Toyota has reported vehicle inventory is rising as it had received wholesale orders this month for its cars and trucks. The Japan-based automaker expects income to come from Camry, Prius and the new Prius v wagon, a revitalized Tacoma pickup and latest Scion iQ.
The company has reopened all of its North American assembly plants, with most employees working on overtime shifts to meet the production orders. Toyota was forced to close down production facilities in Japan after the March 11 earthquake caused power shortages.
Asia's largest automaker posted its last U.S. sales gain in April. After that, sales remained on a steady decline. August U.S. sales dropped to 12.7 percent from 15.2 percent a year earlier. September sales, so far, are still flat.
The company also said it plans to sell more vehicles to individual buyers, rather than to corporate accounts and rental fleets.