Business

Toyota Remains Top in Global Vehicle Sales, Beats VW, GM

Published

9 years ago

January 21, 2015

In this May 8, 2014 photo, visitors look at cars displayed at a Toyota gallery in Tokyo. Toyota Motor Corp. stayed at the top in global vehicle sales in 2014, but is pessimistic about this year. (AP Photo/Koji Sasahara, File)

YURI KAGEYAMA, AP Business Writer

TOKYO (AP) — Toyota Motor Corp. stayed at the top in global vehicle sales in 2014, taking that auto industry crown for the third year straight, but was less upbeat about this year.

The Japanese automaker sold 10.23 million vehicles, beating out Volkswagen and General Motors. But it expects to sell fewer trucks and cars this year, forecasting sales will fall 1 percent year-on-year to 10.15 million vehicles, according to numbers released Wednesday.

The drop is largely due to a projected 9 percent plunge in Japan sales. Japan sales had been inflated in the early part of last year ahead of a sales tax hike. Overall, the Japanese auto market is weakening because of population decline.

Toyota expects overseas sales to grow 2 percent this year to more than 8 million vehicles from 7.9 million vehicles last year.

Volkswagen AG of Germany sold 10.14 million vehicles in 2014, up 4 percent from the previous year. Detroit-based General Motors Co. was third at 9.92 million vehicles, a company record and 2 percent higher than its tally in 2013. GM gave its numbers earlier this month.

Selling 10 million vehicles around the world in a year is a milestone for major automakers. And the race is intense as automakers increasingly compete in new markets.

Toyota’s sales grew 6 percent in the U.S. from the previous year, 13 percent in China, and 10 percent in Brazil, according to the maker of the Camry sedan, Prius hybrid and Lexus luxury models.

Toyota suffered a setback in 2011, when its production was hobbled by the earthquake and tsunami in northeastern Japan. But it made a comeback as No. 1 in 2012.

GM had been the top-selling automaker for more than seven decades until being surpassed by Toyota in 2008.

But it is Volkswagen that has been racking up stellar growth in recent years, beating GM last year and in 2013. But that year, GM would have won if both companies had been compared without the sales of industrial truck brands, which GM doesn’t make.

Last year, Volkswagen outsold GM even without its heavy trucks, which totaled 199,900 vehicles. Toyota’s Hino division, which makes trucks, sold 168,000 vehicles last year.

Toyota executives purposely exude a low-key approach about their global ambitions, stressing the company just wants to make and sell one car at a time.

That humility has been even more pronounced after the automaker was slammed with a massive recall scandal, fines from U.S. authorities and many lawsuits, especially in the U.S. since 2009.

But Toyota is eager to elevate its brand to more than a maker of reasonably priced, reliable products with race cars and luxury models that can help shed its previous staid and boring image.

It is also a leader in green technology, having scored success with its Prius gas-electric hybrid, and is now banking on an even more futuristic technology called fuel cells.

It delivered a fuel cell car to the Japanese prime minister last week, and is rolling out the Mirai fuel cell, which means “future,” overseas later this year.

___

Follow Yuri Kageyama on Twitter at https://twitter.com/yurikageyama

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Maximizing Your Bank Branch Experience

In a world of online tools that let you make banking transactions with the touch of a button, the idea of visiting a branch might seem unnecessary. However, if you haven’t visited your local branch recently, you might be surprised by what it has to offer. Your branch is much more than a place to deposit and withdraw money – it can offer the opportunity to build valuable relationships with people who can help you achieve financial independence.

Published

2 hours ago

May 3, 2024

Oakland Post

Diedra Porché, National Head of Community Banking, JPMorgan Case & Co.

Sponsored by JPMorgan Chase & Co.

In a world of online tools that let you make banking transactions with the touch of a button, the idea of visiting a branch might seem unnecessary.

However, if you haven’t visited your local branch recently, you might be surprised by what it has to offer. Your branch is much more than a place to deposit and withdraw money – it can offer the opportunity to build valuable relationships with people who can help you achieve financial independence.

Diedra Porché, Head of Community and Business Development at Chase, talks about how the bank model has evolved to maximize the branch experience for customers; how connecting with your local branch team can help you think differently about money and investing for your future.

How can a customer feel connected to a bank branch?

I love that question because we ask ourselves the same thing every day. Being part of the community means meeting with local leaders to find out what they need from us and then designing our branches around that. For example, at some of our community branches we have what we call a living room where we can host financial workshops, small business pop-up shops or nonprofit organization meetings. We also hire locally. You feel much more connected talking about financial aspirations with people from your community who went to the same high school, place of worship or maybe frequented the same recreation center down the street when they grew up.

How can I build a relationship with my bank?

Customers should feel comfortable sharing their goals, needs and wants with their banker. Also, it helps to remember the Community Manager is there to help solve your finance challenges and build a roadmap for success. You might have a short-term or long-term goal to open a business, build your credit, become debt-free, buy a home, or save for retirement, and our community team can help. At Chase, we strive to make dreams possible for everyone, everywhere, every day. Your financial future starts with building those relationships.

How can customers change negative perceptions they have about managing their money?

Far too often, customers are intimidated when they visit a bank. Our goal is to demystify banking and money myths empowering people to make the right decisions. For example, a big myth is assuming you need a lot of money to have a bank account. You don’t! Another myth is you need to carry a balance on your credit card to build credit — actively using your credit card can demonstrate that you can use credit responsibly but carrying a balance won’t necessarily improve your credit score. Finally, understanding mobile and online banking safety is key. There are so many safeguards and protections in place to guard your personal information and funds.

What’s an easy step one can take to shift their financial behavior right now?

Cultivating self-awareness is a good first step. Start by taking inventory of your spending. Be honest with yourself about what you need and what you want. Too often, people confuse the two, which leads to bad decisions. Rent is something you need to pay. An extra pair of shoes is something you may want but before you buy them ask yourself if that’s the best use of your hard-earned money. Too often, our beliefs and our fears shape our financial realities. If any of those beliefs are limiting your financial behavior, it’s important to question and examine them, and then decide you’re open to learning something different.

What’s one perception about banking that you’d like to change?

I think folks are surprised there are so many resources available and accessible both at our branches and online, it’s always a good idea to visit a nearby branch and speak to a Community Manager or banker. Outside of what we offer in-branch, our teams also work with local neighborhood partners who provide a variety of services to support the community, businesses and residents. I received a unique piece of feedback from an employee who started with the bank and had lived in the same community his whole life. When he visited his local community branch, he said, “Diedra, when I walked in, I felt dignified.” Every time I recount that story, it warms my heart because that’s what we want — we want our centers to belong to the community.