Lexus IS Forum banner

1 - 4 of 4 Posts

·
Registered
Joined
·
816 Posts
Discussion Starter #1
(Cribbed from www.motortrend.com)

Reuters news service filed a story this week stating that Toyota has "seriously considered" launching a third brand in the U.S. to target Generation Y buyers. In Japan, Toyota has five distinct channels.

Toyota's North American sales growth has been in with older customers, lead by its premium Lexus division and conservative product line. In the numbers game, the PlayStation-weened Echo Boomers represent a population nearly as great as the Baby Boomers, and they are coming into their new-car buying years.

Seeking to attract these young consumers, Toyota established a "genesis" team tasked with seeking ways to create appropriate product, image, and services. Fruits of this creative approach can be seen on the roads in the form of the Celica, Echo, MR Spyder, and soon the Matrix. Officials have given conflicting statements in the media and private, leaving us to study the recently released official statement:

Toyota and Lexus, our two brands in the U.S., have enjoyed tremendous success in the luxury and volume car markets. Toyota is quite satisfied with the buyer profiles of each sales division.

As part of Toyota's ongoing corporate planning efforts, the company is constantly evaluating future needs. The importance of appealing to younger buyers is a high priority.

Toyota's genesis project successfully launched three youth-oriented projects in 1999 (Celica, MR2 Spyder, and ECHO). The genesis project continues to evolve, and helps guide future product and marketing plans aimed at younger car buyers. In anticipation of the launch of the Matrix crossover vehicle, Toyota is considering ways to take the genesis effort to the next level, including marketing a sub group of vehicles to specific buyers.

However, there has been no consideration to introduce an additional dealer network.


An ambiguious statement leaves wiggle room for a "genesis" brand to emerge within the current dealer network, sharing showrooms with Toyota-badged vehicles.

------------------
051/LP/SR/LD/HH
 

·
Registered
Joined
·
3,221 Posts
I think there are conflicting forces at work within Toyota. It is a big conservative company, and offering new, "different" products aimed at young customers is a challenge for them these days.

The Genesis group was pushed through as a way to let some "cowboy engineers and designers" do something different than the current status quo within Toyota. Genesis managed to focus on some key features like: fun to drive, light weight and quirky styling with their new products. I sort of heard that some parts of Toyota were not happy with the results of the Genesis group and they had the group reorganized in such a way that they may not be able to repeat the success they had with the designs of the MR2-Spyder and new Celica models.

I am not sure that the sales of the Celica and Echo [the MR2 spyder is limited production] have lived up to the goals set forth when Genesis was formed...

So - it doesn't surprise me that we are getting confusing, conflicting reports from different parts of Toyota about the success and fate of the Genesis group and products.

-----

Keep in mind that I am just rambling on about stuff I really don't know that much about. I could be wrong about this.
 
1 - 4 of 4 Posts
Top