Toyota and Honda lose their share in United States
Automotive companies, Toyota Motors Corp. and Honda Motors Corp have been making consistent success in the United States' automobile industry for the past thirty years because of their remarkable contribution in the quality, servicing and plant establishments. Both these Japanese automobile leaders have been witnessing consisting increasing market share.
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At the beginning of this year Toyota had suffered from a crisis in the United States as it recalled the sold cars to correct the defects in the same. Not only this, the quality factor is also the major cause for their downfall as their competing brands are also offering quality products at par with Toyota.
In the last two months, the sales of both Toyota and Honda has fallen down in the United States market.According to Autodata Corp, the total share of Toyota in the first 10 months of this year has reduced by 1.5 percentage points at 15.2 % whereas the share of Honda in United States is down by six-tenths of a point at 10.6 per cent. Earlier in 1998 too, the market share of Toyota and Honda fell down, at that time Toyota was flat at 8.7 per cent whereas Honda's share was one-tenth of a point to 6.4 per cent.
Both Toyota and Honda are facing tough competetion from Hyundai due to its rapid rise in the market. Hyundai's upgraded mid-size sedan Hyundai Sonata is proving to be a big rival for Toyota Camry and Honda Accord.
Both the big auto-market players Honda and Toyota are looking ahead for the Los Angeles Auto Show to be held this week where they expect to accelarate their much needed market ratios. Here Toyota is expected to come up with its electric version of RAV4 (small sports utility vehicle) whereas Honda will unveil its first battery powered car. In Los Angeles, Hyundai is going to introduce its New Hyundai Elantra compact car which promises to offer 40 per gallon which is more than 36 per gallon offered by Honda Civic and 34 per gallon offered by Toyota Camry, which can be a big threat for both these Japanese brands (Honda and the Toyota).
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