According to Bloomberg News, Toyota expects its United States dealers to invest as much as $US112.5 million to sell Scion vehicles, the new brand with which the car maker hopes to attract more customers aged under 30.
Jim Farley, manager of the new vehicle line, told Bloomberg News that Toyota plans to have 900 of its 1,200 US Toyota dealers selling the Scion brand by 2005 and each will spend about $125,000 to improve at least 400 square feet of showroom space and train salespeople.
Bloomberg News said the first Scion is scheduled to go on sale in California on June 9.
Under-30 consumers will represent 25% of the U.S. new-vehicle market by 2010, up from 5% last year, Farley told Bloomberg News. “If you don’t develop a relationship with them, you won’t have a business,” he added.
Bloomberg News said Scion will add two more models by June 2004, when the company expects to begin sales in most major US cities. Toyota expects annual sales to reach 100,000 vehicles by 2005, the report added.