18 Mar 2013
By Wright Communications
Summarising a record-breaking 2012, and looking ahead to further
growth in 2013, Toyota New Zealand CEO Alistair Davis says that
apart from a blip in sales associated with the global financial
crisis, the New Zealand SUV market has been on a "relentless growth
path" locally - mirroring the worldwide trend.
Toyota's RAV4, the market leader in the small SUV category, is
credited with igniting the SUV sector, largely because its
revolutionary design moved away from the huge petrol consumption
and outsized vehicles of the past. The vehicle's fuel economy today
is as good, or better, than passenger cars sold just a few years
ago - at 8.5L/100km it comes in under the previous
generation Camry (8.9) and is close to the previous generation
Corolla (7.5).
Mr Davis says the ability of manufacturers like Toyota to adapt to
changing customer tastes has ensured the SUV market's phenomenal
success.
"Today, large models make up a tiny sliver of the SUV market," he
says. "More than 90 per cent sold now are mid-size or smaller,
front-wheel or all-wheel drive."
"Our new best sellers like the new generation RAV4 have fantastic
on-road handling and performance. The lighter weight construction,
more sophisticated suspension systems and better balance between
two-wheel and all-wheel drive make for a great driving experience.
And, an increased range of drive trains, fuel options and
transmissions provides customers with plenty of choice to suit
their needs."
Toyota's newest RAV4 model is currently being released, and is
expected to help raise the company's growth for new car sales by
around three per cent overall this year, says Mr Davis. New
Zealand's new vehicle market overall grew by 20 per cent last year,
substantially outpacing the country's general economic growth of
two per cent.
As the market leader in new car sales for the past 25 years, Mr
Davis says Toyota is heartened by current market conditions and is
aiming to get back to a market share position of 23 per cent. The
2012 sales results augured well for that, proving a record year for
Toyota in the new and used vehicle categories.
"There are a number of contributing factors to the strength of the
overall market, such as an economy heading in the right direction,
the price of new vehicles falling in real terms, and a trend to
buying smaller, more affordable vehicles," he says.
"Certainly the cost of new vehicles, including those from Toyota,
have appreciated over time, but we've calculated the our base price
for the Corolla has increased just 1.75 per cent each year in the
past 25 years - which is pretty modest when you consider the
amazing advances in technology."
Toyota NZ launched 11 new models into the local market over the
past 15 months, reporting that all models have seen substantial
growth. The large number of new products ensures Toyota stays ahead
of the pack in an ever-changing mix of vehicle preferences for New
Zealanders. Twenty five years ago, for example, the biggest sellers
were the small/medium and medium-sized cars and the large Aussie
6's. SUVs weren't yet invented and the import of sports and luxury
cars was heavily regulated.
Currently, the small car sector has almost doubled its market
share, SUVs have largely supplanted medium and large cars, and
sports and luxury cars and light trucks are growing apace.
"Last year was a bumper year for new products and this year won't
quite be at that level, but it's certainly not quiet for Toyota,"
says Mr Davis. "Along with the new RAV4 currently rolling out, we
have two new versions of the 86 aimed at a younger market. Later in
the year we will launch significant improvements for Hilux, then
early in 2014 we will see a new Highlander."
Ends
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