The Registrations of Toyota vehicles in Germany attained a value of 77,176 Units in 2020
The indicator recorded a historical decline (CAGR) of 1.63% between 2017 to 2020, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
Vehicle industry in Germany post pandemic
The German car manufacturing industry, which is the largest in Europe, declined in both value and volume terms over the historic period. The industry suffered a particularly steep decline in 2020 amid the COVID-19 pandemic. The industry looks set to recover in the forecast period. Like much of the rest of Europe, car sharing start-ups have dented growth in Germany’s sales, as an increasing number of Germans, especially those belonging to the younger segments of society, opt to share vehicles rather than purchase their own due to financial restraints or environmental reasons. Car2Go, which is owned by Daimler AG, is a prime example of a successful car sharing platform that has cemented its position, especially in the urban centers of Germany.
Toyota Motor Corp (Toyota) designs, manufactures, and sells passenger cars, minivans, buses, trucks, specialty cars, recreational and sport-utility vehicles. The company provides financing to dealers and customers for purchase or lease of vehicles. The company is also involved in housing, financial services, telecommunications, and information technology businesses. Toyota’s financial services include retail leasing, retail financing, insurance, and wholesale financing. It operates across the Americas, Europe, Africa, Asia Pacific, and the Middle East. Toyota is headquartered in Toyota City, Aichi, Japan.
Products & Services
Its products and services widely range into Compact cars, Passenger cars, Recreational vehicles, Sport-utility vehicles, Minivans, Trucks, Buses, Parts & Accessories, Vehicle Finance and Equipment Leasing.
Its major brand is constituted by Lexus, Toyota, and HINO.
Situation in European market
Sales revenues in Europe decreased primarily due to the vehicles decrease in vehicle unit sales compared with the prior fiscal year, driven by COVID-19 related lower industry volume, partially offset by higher net pricing and favorable series and option mix.
Cost Reduction Efforts
These cost reduction efforts related to ongoing value engineering and value analysis activities, the use of common parts resulting in a reduction of part types and other manufacturing initiatives designed to reduce the costs of vehicle production. The amount of the effect of cost reduction efforts includes the impact of fluctuation in the price of steel, precious metals, non-ferrous alloys including aluminum, plastic parts and other production materials and parts.
Corporate Strategy
Toyota strives to offer products and services that meet the needs in each market and focuses on leading the market with technological development. The company aims for increasing product appeal by improving design and offering new models according to individual market needs. Toyota aims to offer vehicles globally, which will address the needs of today and of tomorrow at affordable prices. To this end, in June 2021, the company launched its redesigned Land Cruiser, a new sport utility vehicle (SUV). This vehicle is redesigned to provide a good riding experience, allowing the driver to drive with ease on any type of road in the world without tiring easily. It also launched the Proace Electric and Proace Verso Electric vehicles and refined 7-seater Highlander hybrid vehicle in Europe. The company aims at developing a system that is capable of providing optimal supply of products in the global market.
The company proposes to optimize existing production capacities and manufacturing expertise. It seeks to improve productivity at existing plants in. Expansion of production capacities across emerging markets is expected to improve supplies.
Vehicle registration scenario
Toyota has remained consistent in thirteenth and fourteenth position in total vehicle registrations in Germany from 2015 to 2020. However, globaldata predicts its ranking to remain consistent or improve during the forecasted period.
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