Toyota And Nissan See Potential Rapid Growth In U.S. Auto Market Sales

Nov 11, 2016 05:00 AM EST | Leian N.

Japan carmakers, Toyota and Nissan, concluded that they have found the U.S. automobile market to be healthy for this year as both companies but only to the extent of electric vehicles as there had been a decline in sales for gas-powered models.

Just this week, Toyota Motor Corp. announced that their sales for the fiscal year of 2016 amounted to 60,000 vehicles. They also declared that they are expecting a decline of sales with respect to fuel-generated models as American consumers had been preferring to purchase electric vehicles.

According to the executive vice president of the company, Takahiko Ijichi, the U.S. market has become weaker but North America has still been lodged as the biggest export destination for their products.

On the other hand, Nissan Motor Company also declared that they have garnered a fall of profits even if they have offered incentives to car purchasers in delivery fees. In fact, they also announced that they see a slim chance for further expansion in the U.S. automobile market.

Despite the negative notion about the market, co-chief executive producer for the U.S. industry, Hiroto Saikawa, announced last Monday that the U.S. market still provided a potential for further growth. In fact, he unveiled that incentives have been growing in the industry and Toyota and Nissan would comply with market needs when required, reported Auto News.

Furthermore, it was also revealed that Toyota and Nissan were not to underestimate the risk in the current U.S. automobile market. With shares for the latter being held, the company was still able to reach its peak in U.S. profitability, reported Bloomberg.

At present, Toyota and Nissan are more upbeat about the markets outside of Japan. In fact, Toyota has attested that they may be seeing 1.56 million vehicle sales for this year which is 60,000 more than their forecasted values.

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