Toyota Motor Corp. presented its 2014 design for the Corolla brand line. The sedan is supposed to compete with Honda Civic and Ford Focus. The Corolla automobile is defined as the most popular car nowadays. The company claims to have sold around 40 million of those making it the best selling compact car in US market.
The model is not relying on a cutting edge technology or engineering but has been well positioned on the market. The new Corolla would be selling this fall and is slightly larger than previous model. The company advertising emphasizes on design and comfort following the industry trend. That particularly is a change in strategy for Toyota as the company has always been marketing their products as reliable and safe in the first place.
“It does look more attractive,” Jessica Caldwell, an analyst with Edmunds.com cited by Bloomberg, said after seeing the new Corolla.
The reputation of a reliable car-maker has been the fuel of Toyotas success. Most of their customers or 59% of them buy another Toyota car after their first one. This represents a higher loyalty rate than Honda Civics 45% and probably highest in its niche.
Global sales for Toyota are said to be increased by 7% this year to 1.3 million cars that is 120 000 units less than the highest peak in 2006. Its competitors have stepped up a little. Ford and Honda have been working on fuel efficient models and lower prices.
Toyota hasnt yet put a price on the redesigned Corolla model but it is believed to be around $16 000 for the base model.
Companys share prices reached its yearly peak last month recording a 4 year highest. Yesterday Toyota shares closed at $114.48 per share.