Toyota expects to reach sales of 2.5 Million in US by 2008

Toyota expects to reach sales of 2.5 Million in US by 2008

World’s second biggest automaker Toyota is doing good business in the United States. So much so that the competition in the form of General Motors and Ford are finding it hard to compete with them in the domestic market. General Motors is passing through a bad time and have decided to cut jobs and close down some factories. Ford is not doing very well either.

Toyota on the other hand is shining. They are on their way to opening another big plant in the North American region looking at the growing demands for their cars. And they have just announced estimates that they would be touching sales of around 2.5 million vehicles by 2008. The sales growth is expected to come from the growing demand as well as a slew of new models planned by the company.

The company normally increases their model prices yearly by 1-2%. This year they are expected to be raising the prices by around 3%. However, nothing is confirmed as of now. They are currently the fourth largest automaker in the American market behind GM, Ford, and DaimlerChrysler AG. However, they are closing in fast and have boosted their sales in the market by around 10% in the first five months of this year.