The car market will grow despite the election: Toyota

The car market will grow despite the election: Toyota

In 2024, the sale of new cars could grow between 6% and 8% due to macroeconomic stability, the exchange rate and stable demand after the pandemic, said Guillermo Díaz, president of Toyota Motor Sales and Lexus de México.

Therefore, the election processes in Mexico and the United States will not affect car sales, although in both cases Toyota handles several events.

“There is great stability, some general economic indicators are helping us, the exchange rate. The supply chains will show a large transfer and there is already more availability of products due to increased production in plants,” he commented in an interview with EL UNIVERSAL.

“There is already a more normal world environment after all the challenges in the post-pandemic.”

But despite the forecast for a good year, 2024 is not without challenges.

“Regarding the US and Mexican elections, if a certain candidate wins, the exchange rate may rise, but the electricity supply will decrease,” he assured.

“We analyze a thousand things, a thousand events, we plan. We have conditions for every possible way that things take, but in all we see moderate and sustainable growth.

Toyota is the fourth largest company by sales in the country. Last year it sold 104,000 cars and 2,681 units of the Lexus brand.

However, its president believes that if interest rates were low, the economy could improve and Mexicans would buy more cars instead of saving or spending on other things.

Toyota still faces inventory availability challenges in some models, but believes that this year delivery times for its customers will decrease.

“The demand is still very high, we continue to work on it and last year we sold 104 thousand units with excellent availability on many lines.

“We appreciate the patience of our customers, it is not our goal to wait. The customer is willing to wait for product quality, reliability and design; but this year we will reduce the waiting lists,” he assured.

Toyota has also invested to speed up the unloading of its vehicles at the port of Lázaro Cárdenas, Michoacán.

The company added new suppliers, improved processes, and gained additional space in yards at that port and others in the Pacific.

The Toyota company is the leader in selling hybrid cars in the country and its expectation is that, by the end of this year, 30 percent of all its sales will be in that group.

Last year the company sold 26,696 hybrids, but Lexus already reached 60% of sales of electric hybrids.

The president of Toyota Motor Sales of Mexico believes that the market cannot go from gasoline cars to electric cars without first going through hybrids.

“Our president Akio Toyoda thinks that the maximum market share of electric vehicles will be 30% worldwide and the rest will be plug-in hybrids, and most of them will be hybrids,” he said.

Toyota is launching the Tacoma hybrid this year, reaching 10 models of this type in its lineup.

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