In April, Toyota's sales in the U.S. fell for the first time in 18 months. Prius deliveries tumbled 21 percent and the Camry -- America's top selling car every year since 2002 -- was outsold for a second straight month. Sales of the Avalon and the Lexus ES extended gains after both models were redesigned last year.
General Motors, Ford and Chrysler all gained market share in the first quarter for the first time in two decades and led the industry to its best April since 2007.
Toyota said it expects to sell 2.2 million vehicles in the United States in 2013, up from about 2.1 million in 2012. The company is expected to release the Corolla compact car in the U.S. this year.
"While the fierce competitive landscape (in the U.S.) will likely mean that Toyota may see growth taper off in the short term, new product launches later this year should help to give sales a boost," said Alec Gutierrez, senior analyst at Kelley Blue Book.
Toyota is unlikely to be tempted away from its low-risk growth strategy as Toyoda, the 57-year-old grandson of the founder of Toyota's automotive business, focuses profitability even if it means losing market share.
Toyoda is mindful of lessons learned from huge losses run up in 2008 after a period of boom and rapid expansion and sees high profits are no reason to launch into a big expansion program.
"The wind that was blowing against us is calming down and we can hear some saying that it is the time for us to take the offensive. But I think we are just standing at the startline of sustainable growth," Toyoda told reporters today.