13
Jan
10

Toyota Adds Two Scion Models to Aid U.S. Youth Brand

Toyota Adds Two Scion Models to Aid U.S. Youth Brand (Update2)

By Alan Ohnsman

Jan. 13 (Bloomberg) — Toyota Motor Corp., Japan’s largest automaker, will introduce two models in its U.S. Scion range this year to boost sagging sales at the youth-oriented brand.

“Scion will get a huge shot in the arm,” Yoshimi Inaba, the company’s North American president, said in a speech at the Automotive News World Congress in Detroit late yesterday. The new models “will rejuvenate the brand and bring additional younger buyers into the Toyota family,” he said.

The Toyota City, Japan-based company will release 10 new or redesigned vehicles in the U.S. this year, including the two additional Scions, Inaba said, without elaborating.

Sales of the three current Scion models, the xD hatchback, xB wagon and tC coupe, plunged 49 percent last year to 57,961, as the recession sapped demand for new cars. Toyota created the brand in 2003 to appeal to drivers younger than its core baby- boom generation customers.

The company’s total U.S. sales fell 20 percent last year. Toyota’s U.S. sales unit is based in Torrance, California.

Toyota’s American depositary receipts fell 31 cents to $89.19 at 4:15 p.m. in New York Stock Exchange composite trading. They have declined 40 percent in the past 12 months.

To contact the reporter on this story: Alan Ohnsman in Detroit aohnsman@bloomberg.net

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