Toyota Aims Expansion In Canada

Japanese automaker Toyota is on track to become the largest automaker in the world. This distinction is given to cars that produces the largest number of vehicles in one year. With that tag comes the task of selling a large number of vehicles in the world market for automobiles. In the U.S. car market, Toyota has already surpassed Chrysler and Ford has beaten in the last two months. By the end of the year, it is expected that Toyota will become the second largest U.S. " automaker.
In Canada however, the automaker is yet to beat Ford or Chrysler. But Toyota has been dedicated to doing just that. As part of the company expansion into the Canadian market for automobiles, the company announced that it will enter the automobile insurance Canadian market.
Toyota Yoichi Tomihara " President said that if everything goes well, we (offer insurance) within one year. If the barrier is higher, we need to spend more time. " The automaker already is offering vehicle insurance in other countries. In Japan, Britain, France, Germany, Australia and Thailand, the automaker offers insurance policies for their consumers, without having to involve companies.
Mr independent insurance. Tomihara said they are studying the proper perspective. This should be the case because its insurance business should have the same quality standards of their vehicles. Toyota has been known for the reliability of their vehicles that can be compared with the durability of Canada radiator. This reliability of Toyota vehicles is considered one of the keys to the success of the automaker not only in Japan but also in the U.S. automobile market.
Automakers often have financial services arm. However, Toyota will be the first automaker to be entering the auto insurance market in the country. It is hoped however that only offer insurance policies for consumers in Alberta, Ontario and Canada Atlanta. In these regions, the automobile insurance market is in the hands of private sector.
Offering insurance policies for consumers in a concession contract is considered one of the ways to attract consumers. With Toyota, however, the extent of its insurance operation is not yet known by the experts are still in the dark as to what the effect of this measure will be in the total operation of the automaker. The effect of this throughout the Canadian automotive industry is also known.
ReportBusiness.com not yet reported that Ryan Lee, a professor in the department of risk management and insurance ay the University of Calgary Haskayne School of Business, Toyota could fall in the insurance market to help sell more vehicles in Canada or to make more money.
The Japanese automaker recently announced that it is looking to sell a quarter of a million vehicles in Canada at the end of the decade. In the 1990& 39;s, Ford and Chrysler have been able to achieve that sales target. However, current trends saw sales for the two American car was reduced to only 230000 vehicles a year. This year, the automaker is on track to sell 205000 vehicles in Canada this year.



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