Japanese automaker Toyota was on top for several years as the world's largest automaker (beginning in 2008), but recently, after the company was tragically affected by the tsunami in Japan, it lost its title. Now, however, the brand is back on top thanks to excellent sales of new Toyota vehicles so far this year. Recently, Toyota forecasted its profits would more than double in 2012 to reach a five year sales-mark high.
Being number one isn't really the automaker's first concern, however. Jim Wiseman, Vice President of External Affairs for Toyota North America, explains, "Although being No. 1 is not the main goal for us, it's nice to see because hopefully it shows we're on the right track. With customers reacting so positively to all of the new and updated products we're introducing this year, we're optimistic the good momentum will continue."1
Though Toyota still faces stiff competition from Volvo, the company's recent comeback is certainly impressive. In April 2012, the brand's sales rose 12 percent in the U.S., which topped the overall industry's average growth of 10 percent. Toyota expects North American sales to increase 26 percent by the next fiscal year (which ends March 31, 2013).
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