TOYOTA cars still top selling brand

Mr Aidrous Bazara, (AMTC), Managing Director

Toyota brand cars are still the top selling brand in most of the world, and the increase in their price is due to the appreciation of the Japanese Yen against the US Dollar, said Mr Aidrous Bazara, the Automotive and Machinery Trading center (AMTC), Managing Director and sole distributor in a press conference held last week. Bazara reiterated that Toyota is the car company least affected by the global financial crisis.

Bazara explained in a press statement that the slight drop in Toyota sales in American and European markets can be attributed to the general retreat in car demand. However, he stated that Toyota is maintaining its sales target across the global automotive market, and in Middle East in particular.  

Bazara’ said that the global financial crisis has affected Toyota adversely like any other brand. American and European cars have become cheaper, largely due to the depreciation of their currencies.

Despite all these problems, he said the price hike was reasonably small and imminent. Bazara reiterated that this hike would not affect customer demand, “whose trust in Toyota has been consolidated over the years due to their experience and the value for the money.”

Bazara said that the Yen’s appreciation since the last September at the rate of 25% against the dollar has compelled the considerable price hike of Toyota cars. 

He said that the increase in car prices, including Toyota will continue until the rise of the Japanese Yen against the US Dollar is resolved.

The managing director also expressed his satisfaction at the sales performance of AMTC for 2008, adding that the AMTC has achieved overall sales growth of 25 percent over the previous year 2007, despite the global financial crisis which hit the world in the last quarter of the year. 

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