According to Chief Executive Officer Akio Toyoda, Toyota remained in pole position while still earning well. He also claimed that the Japanese brand outearned GM and VW combined in the previous quarter.
However, he acknowledged the fact that the competition is heating up. While Toyota led GM by about 460,000 units in 2012, this year, the gap has narrowed to about 270,000 units. The Americans have also been coming up with many great cars in the recent years. Plus, they have been winning awards like North American Car and Truck of the Year awards at the Detroit Motor Show with its Corvette Stingray sports car and Silverado pickup.
Not to be left behind, VW will spending more than $7 billion during the next five years in North America. It will also try to increase sales of its namesake and Audi brands to 1 million vehicles by 2018 when it believes it would be the top-selling automotive brand in the world.
So 2014 is shaping up to be an interesting year with Toyota trying to be the first automotive brand in the world to surpass the 10 million sales mark. Who do you reckon will emerge as the champ this year?