The world’s largest carmaker came late in the game. Founded in 1937, Toyota was more than 30 years behind Ford (1903) and Fiat (1899). But by building reliable, affordable and sturdy vehicles, the Japanese company gradually overtook its competition around the world.
In Italy, 2022 was a year full of success and satisfaction. Toyota closed 2022 recording its best market share ever of 7%, securing third position overall and ranking second in the private market, with a 9% share right behind Fiat, the main Italian automotive company.
“Aside from these market results, we also achieved record results in after-sales turnover and overall services, which means financing and insurance. So, we are very happy. Also, from a brand image point of view, we are still the best regarded brand in the market,” said Toyota Motor Italia CEO Luigi Ksawery Luca’.
In the European context, Luca’ pointed out the importance of Italy as the most relevant market for the sale of three models produced in Europe such as the Yaris subcompact car, Yaris Cross subcompact crossover SUV, and the Aygo X city car.
With the COVID-19 pandemic and strict lockdowns becoming a distant memory, Toyota got back on its feet quickly thanks to the strength of its brand, its leadership in electrification with a wide range of full hybrid electric vehicles, its reputation, and the strength of its dealer network.
“We’ve had successful communication campaigns. We’ve also paved the way for hybrid cars, spreading and democratizing full hybrid electric technology in the market,” said Luca’, whose main objective is to make Toyota the most loved brand in Italy.