Toyota Motor Corp. is hinting at plans to give customers a broader, better range of hybrid and electric vehicles over the next few years. The car maker also suggests it will ramp up its in-car electronics offerings and give more authority to regional executives.
At its annual meeting with dealers held in Las Vegas, the car maker’s president Akio Toyoda talked about a renewed focus on products and said the next-generation Camry and Camry hybrid models coming for 2012 are among the vehicles on which it will rely heavily. He said the new Camry, the latest in a line of midsize sedans that have been perennial best-sellers in the U.S., is meant to “meet the changing needs of the 21st Century driver.”
Toyota says the coming Camry will have improved overall performance including ride and handling that will be better than before, reported The Wall Street Journal. It will also have a new exterior and interior design and a range of new electronic and telematic features, the car maker says.
As competition gets stronger in the midsize family-car segment Toyota has been under pressure to update the Camry. For years its only serious rival was the Honda Civic. But today there are many more cars that compete with the Camry, including the Hyundai Sonata and Kia Optima. Other rivals that have come on strong lately include Ford Motor Co., Subaru and General Motors Co.’s Chevrolet division.
Company chief Toyoda also said giving more decision-making power to subordinates on the regional level is his “most important goal.” This is significant after more than a year of major recalls and doubts about the company’s commitment to quality.
Here’s a list of additional meeting themes and highlights from Toyota:
Recovery from the disaster has far exceeded expectations. In Japan, production is expected to return to normal levels after July. In North America, eight locally-built models, including Avalon, Camry, Corolla, Highlander, Matrix, Sequoia, Sienna and Venza returned to 100 percent production in early June. The remaining four North-American built models, including Tundra, Tacoma, RAV4 and Lexus RX, will return to 100 percent beginning in September.
Prius family launch remains on track. Prius dominates the hybrid market with over 50 percent market share. With the launch of Prius family, Toyota is capitalizing on that brand strength and providing all the benefits of Prius in a variety of vehicles. Prius v, which arrives this fall, has SUV like cargo capability, nearly 60 percent more than the current Prius, but still is expected to deliver estimated EPA fuel economy ratings of 42 mpg combined. The Prius c compact, arriving in the spring of 2012, offers expressive styling in a city-friendly vehicle that we believe will be the most fuel efficient hybrid in the U.S.
Advanced technology vehicles. New, advanced vehicles arriving in 2012 include the Prius plug-in hybrid, RAV4 EV and Scion iQ EV. Toyota has committed to putting a fuel cell vehicle on the road by 2015, and is researching bio-fuels and next-generation materials to help make vehicles that will be lighter, safe and more fuel-efficient.
Investment in North America. Our new plant in Mississippi opening this fall will build 150,000 Corollas per year, create 2,000 jobs and represents Toyota’s faith in the North American market.
State-of-the-art multimedia. Toyota’s new Entune system, which will feature simple, seamless functionality and is compatible with virtually every smart phone, will debut this fall in the new Prius v and Camry.
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