PARIS (Reuters) – Toyota is forecasting a 9% rise in the new light-vehicle market to 2.050 million units in 2023 due to a slowdown in orders which boosted registrations in the first part of the year, said on Tuesday the CEO of Toyota France, Frank Marotte.
In the first half, registrations of new cars and light commercial vehicles rose 13% to 1.1 million units, according to figures released on Saturday by the Automotive Industry Platform (PFA).
“This is not at all the reflection that we see on the order market, the real commercial dynamic since the beginning of the year is almost the opposite”, said Frank Marotte during a conference of press, pointing to the rise in interest rates which makes financing the acquisition of vehicles more expensive.
“What we see in the first half on registrations may not necessarily be verified in the coming months, and we will probably have a level of registrations that will be much less favorable,” he added.
(Report by Gilles Guillaume, written by Zhifan Liu, edited by Kate Entringer)
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