Toyota’s massive recall of 2.3 million vehicles and a sales halt of its best-selling models will inevitably hurt the automakers expected increase in sales and the overall U.S. auto sale increase for January. Analysts say that Toyota is expected to report a sharp drop in sales after a halt in production and sales of its popular vehicles last week.
Industry analysts also expect Toyota’s results in market share to drop compared to U.S. rivals including General Motors and Ford Motor Company.
“Frankly, I think this is going to impact their entire quarter,” said IHS Global Insight analyst Aaron Bragman. “It means opportunity for the rest of the industry. Toyota is wounded and rivals are going to go after it as much as they can.”
– By: Omar Rana
Source: Automotive News (Subscription Required)