Wednesday, January 26, 2022

Toyota Committed to Maintaining Puerto Rico Marketshare Leadership

By on February 25, 2016

SAN JUAN – During a roundtable with media Thursday, Toyota de Puerto Rico (TDPR) President George Christoff reiterated the local automotive distributor’s commitment to maintaining its local marketshare dominance despite a challenging environment for new-auto sales on the island.

After the industry experienced a flat 2015, Toyota closed last year with 22,435 non-fleet units sold, down 8% from 2014, but still commanding a 31.7% share of the market, and plans to maintain its leadership throughout 2016, Christoff assured the media.

“As a market leader, we see current market conditions as an opportunity to highlight our strengths and build value for our customers. This is of particular relevance as customers increasingly seek brands they can trust. Our ‘Customer for Life’ philosophy is the guiding principle that ties together all areas of the company—dealerships, financing, products, parts & service—toward one goal: establishing lifetime relationships with our customers,” the TDPR president explained.

The local Toyota, Scion and Lexus distributor expects sales performance on the island to remain the same, as well as keeping an at least 30% share of the market, even as the local auto industry is showing a slight slump in sales. Overall sales in January were down 7.8%, the worst month of January ever for the local auto industry.

Nevertheless, seven local Toyota dealers had record sales last year, the TDPR president pointed out.

Toyota de Puerto Rico President George Christoff

Toyota de Puerto Rico President George Christoff

“I believe we are in the relationship business. Toyota does more than sell cars, we seek to establish a bond with our customers and provide them with the quality service that equals the quality of our products,” Christoff said. “Puerto Rico is Toyota, Toyota is Puerto Rico. We’re here to stay.”

Christoff plans to achieve the company’s goal through six corporate objectives aimed at increasing customer loyalty while helping dealers maintain a balanced operation through increased sales in the parts & service department, as well as getting dealers more involved in the sale of certified pre-owned vehicles and updating facilities.

Of the 22 Toyota dealers on the island, three of them—two in Ponce and one in Bayamón—will invest a combined $7 million this year to upgrade their facilities. Other dealers are in line to do the same, Christoff noted. In addition, a new dealership will break ground in Aguadilla, he said.

TDPR Vice President Nancy Navales noted the company boasts top performers in six market segments: Yaris with 33.5% in entry-level subcompacts; Corolla with a 43.4% share in standard subcompacts; RAV4 with a 16.8% in the small-SUV segment; the Highlander with a 27.7% share in midsize SUVs; Tacoma with an 85.5% of the small-pickup segment; and Lexus NX with a 41.2% share in the entry luxury-SUV segment.

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