Toyota is poised to announce an aggressive overhaul of its price list as it prepares to make up for slipping market share.
Toyota is still Australia's favourite car brand and on track for overall new-car sales victory for the eighth year in a row -- but its share of sales compared to other brands last month slipped to below 20 per cent for the first time in five years (October 2005).
Since 2002, Toyota's annual market share has consistently been above 20 per cent, with a peak of 24.8 per cent in 2008 -- meaning almost one in four of all new cars sold that year was a Toyota.
But last year it slipped to 23.2 per cent, and so far this year Toyota's share of all new car sales have slipped to 20.2 per cent, dragged down by September's share figure of 19 per cent.
In addition to facing strong competition from Holden and Ford, Toyota has been squeezed by fast-growing budget brand Hyundai and prestige brand Volkswagen.
At a press preview this morning in the lead up to this Friday's opening of the Sydney motor show, Toyota showed images of a facelifted Kluger softroader (pictured) and announced that its price would limbo under the $40,000 mark, to $39,990.
This, however, still puts the Kluger at a significant price premium to the Ford Territory and Holden Captiva, both of which are priced closer to or less than $35,000.
"We've trimmed $1000 off the price of the Kluger to coincide with its facelift, and we'll have some more news for you at the motor show on Friday," said Toyota Australia executive director, sales and marketing, David Buttner.
The Carsales Network understands that Toyota will announce a sweeping overhaul of its price list on Friday as the car maker prepares for a big finish to the year.
Butter says the price cut across the range is "not a panic move", rather the company was adjusting its prices to be more competitive.
"Frankly, the market was stronger than we were expecting in September. We're taking action that we think will give us a strong finish to the year.
"I can't remember us being below 20 per cent [in any given month] in the past eight years. We're confident about our run to the end of the year," Buttner said.
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