one of Toyota cars
Toyota Motor Corporation is poised to end the year as the fastest selling auto brand again. The Japanese automaker sold 7.41 million vehicles through the third quarter and is on track to deliver more vehicles this year than General Motors and Volkswagen which sold 7.25 million and 7.03 million vehicles respectively during the same period.
According to Bloomberg report, during the third quarter, from July to September, Toyota’s 2.5-million deliveries helped push it higher than its closest competitors this year. In that period, GM delivered 2.4-million vehicles while VW posted 2.33-million deliveries.
Part of the reason behind the resurgence of Toyota and other Japanese automakers globally is the weakened yen, which can be attributed to policies put in place by Prime Minister Shinzo Abe since he took office in December last year. Many refer to those monetary easing policies as ‘Abenomics,’ which has led some, such as Ford , to call Japan a currency manipulator and is a big reason the US is lobbying to oppose Japan’s entry into the Trans-Pacific Partnership (TPP).
Because the yen is weakened, Yuuki Sakurai, president of Fukoku Capital Management Inc., reportedly says, “The selling prices of some Japanese cars in the US have been lowered to make them more competitive.”
In the US, at least, GM did out-deliver Toyota in the third quarter. It delivered 697,113 vehicles to Toyota’s 586,016, but that was enough for the Japanese automaker to grow 12 percent in the US and beat Ford for the first time in 15 quarters.
Meanwhile, Toyota retained its spot as the Interbrand study’s top automaker. It finished the survey in 10th position overall (the same as last year), despite a 17-percent improvement in its brand value, from $29.33 billion to $35.34 billion. Mercedes-Benz , BMW and Honda all made the top 20, at 11th, 12th and 20th place, respectively. Hopping a ways down the list, we come across Volkswagen in 34th place, up from 39th in last year’s study, with a brand value of $11.12 billion, a 20-percent improvement over 2012. Ford and Hyundai round out the automakers in the top 50, at 42 and 43.
Porsche made the largest year-over-year gain of any automaker, with its brand value increasing 26 percent to $6.47 billion. Chevrolet meanwhile, cracks the list for the very first time at 89th place. As Interbrand notes, Chevy’s inclusion is notable because of the sheer number of vehicles it moves for General Motors and its recent push in developing markets. The final interesting note on this survey is the position of an automaker that takes its name and logo more seriously than perhaps any other – Ferrari . The Italian exotic manufacturer finished 98th out of 100, with just $4.01 billion in brand value, a six-percent improvement over 2012.
Interbrand’s global brands report takes into account the financial performance of the products and services of each brand, as well as their influence over consumers.
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