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Toyota Excels in US Retail New Car Trade


Among the many three-volume leaders within the mainstream a part of the brand new
car business – Chevrolet, Ford, and Toyota, the Japanese model
is pulling away from the opposite two, primarily based on S&P World
Mobility new car retail* registration information.

Toyota has been the retail market share chief yearly since
2012 (see desk beneath), and if its September 2022 CYTD retail share
of 14% holds by means of December, Toyota would lead for the eleventh
consecutive yr. Its 14% share additionally can be a document for the
model – and the primary time any model has reached that stage within the
previous decade. Moreover, Toyota’s 4.1 proportion level lead to this point
this yr over runner-up Ford is the second highest margin this
decade, surpassed solely by the 4.4 proportion level hole final
yr.

4 Toyota fashions (RAV4, Camry, Tacoma, and Highlander)
at the moment rank among the many high 10 (of just about 400 nameplates on the
market) primarily based on September 2022 CYTD new retail registrations,
together with the #1 general mannequin (RAV4), #1 automobile (Camry), and #1
crossover (RAV4). No different model has multiple mannequin among the many
high 10 this yr.

Relating to model loyalty, Toyota persistently ranks both second
(seven occasions in previous decade) or third (4 occasions) within the
mainstream area, surpassed solely by Ford or Chevrolet or each. Its
present shortfall versus chief Ford of two proportion factors is
barely bigger than its 1.4 proportion level hole for all of
2021.

Toyota’s management place is strengthened by its segment-level
efficiency. Among the many 14 segments wherein the Toyota model
competes, it at the moment ranks No. 1 in each retail share
and model loyalty in 5, together with the Compact Automotive, Compact
Sport, Mid Dimension Automotive, Mid Dimension Pickup, and Mid Dimension Van Segments.
Collectively these 5 classes account for nearly 1 / 4 of the
mainstream area (22.3%). Additional, in three extra segments,
together with the Compact Utility, Subcompact Plus Utility, and Full
Dimension Automotive segments (with a mixed mainstream share of 33.5%),
Toyota fashions rank No. 1 in both retail share or model loyalty.
Put collectively, these eight segments wherein Toyota leads in a single or
each classes account for greater than half (55.8%) of the
mainstream market, implying that Toyota now has a management or
extremely aggressive place in additional than half of the mainstream
area. Toyota nonetheless lags in some key mainstream classes –
notably full-size pickups and SUVs the place the home manufacturers
nonetheless dominate, and the place Toyota has struggled to make a dent.

Toyota additionally leads the mainstream market in electrification (EV
and hybrid); its electrification share of 25.8% is sort of 10
proportion factors above runner-up Chrysler (see desk beneath).
Admittedly, Toyota lags rivals Chevrolet and Ford within the
high-visibility EV area, as each these manufacturers supply established
EVs with the Bolt and Mustang Mach-E, respectively, whereas Toyota’s
first EV, the BZ4X, is simply now launching. However hybrids play an
necessary, although considerably under-the-radar, function in different
gas migration patterns: Hybrid households migrate to an EV at extra
than 3 times the migration fee to EVs from ICE automobiles.

Lastly, Toyota clearly leads its mainstream opponents in
interesting to the three main ethnicities, an necessary achievement
provided that African People, Asians, and Hispanics now account for
a 3rd of all new retail registrations. As proven beneath, Toyota
model loyalty amongst each African People and Hispanics surpasses
60% (the one mainstream model for which that is the case), and
Toyota’s 48.5% model loyalty amongst Asians is greater than 5 proportion
factors larger than that of runner-up Ford.

Given its document over the previous a number of years, Toyota’s sturdy
positions in retail share, model loyalty, and ethnic loyalty
help the declare that it’s among the many leaders, if not the
chief, within the US mass market new car business.

*Retail consists of automobiles registered to people

——————————————————————————

Prime 10 Trade Traits Report

This automotive perception is a part of our month-to-month Prime 10
Trade Traits Report
. The report findings are taken from
new and used registration and loyalty information.

The November report is now out there, incorporating October 2022
CFI and LAT information. To obtain the report, please click on beneath.

DOWNLOAD REPORT



This text was revealed by S&P World Mobility and never by S&P World Scores, which is a individually managed division of S&P World.

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