Toyota exec: Autos will fuel economy
 | Bob Carter: Old cars, new drivers will crank up the industry. Photo credit: JOE WILSSENS |
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DETROIT -- Despite a still-wobbly U.S. economy, Toyota predicts U.S. auto sales will reach 13.6 million this year, 14.6 million in 2013 and 16 million by the middle of the decade.
Toyota's bullish outlook is based on a rapid growth of the driving population, an aging vehicle fleet, high used-car prices and increased availability of credit.
"Lots of Americans need to replace their cars soon," Bob Carter, Toyota Division general manager, said in a speech at the Automotive News World Congress.
The demographic pull of more young drivers will crank up the auto industry, which in turn will ignite the U.S. economy, Carter said.
Toyota, Lexus and Scion will introduce 19 new, redesigned or refreshed models this year.
"I've been with Toyota for 30 years," Carter said. "And I've never launched 19 vehicles in a single year."
Carter also teased the audience with hints about a new Toyota hybrid entry coming this year that has "more room than a BMW X5, is faster than a VW TDi, has higher mpg than a Fiat 500 and lavish features rarely found in near-luxury vehicles."
Company: Toyota Motor Sales U.S.A.
Main point: People need cars again; the auto industry will lead the economic recovery.
Quote: “As auto sales improve and jobs expand, our industry will act as a powerful engine that tugs the U.S. economy forward during the next few years.”
You can reach Mark Rechtin at mrechtin@crain.com. -- Follow Mark on 
