“TOYOTA” car manufacturers are currently proffering 62 car models in Japan and gasoline hybrid Prius is included in this list.
Reasons for restricting car models in Japan
Auto car sales are declining in Japan as the population is ageing and the young demographic does not seem to be enthusiastic about purchasing an automobile. The market is shrinking for automakers and hence the automakers have decided to dwindle the Japan car models.
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STRATEGIC ENDEAVOUR TO OPERATE IN A SHRINKING MARKET
“TOYOTA” has decided to halt the production of the less popular car models in Japan such as the premio Sedan and focus on optimizing the resources to maintain sales of at least 1.5 million cars in a shrinking market.
Toyota spokeswoman Akiko Kita asserted – “The company was pursuing a number of strategies to maintain sales at least 1.5 million vehicles annually in a shrinking market. It currently sells around 1.6 million a year.”
Furthermore, the company is focusing on launching EVs and simultaneously on proliferating the market share in the emerging market.