It’s safe to say business is booming at Toyota. In 2024, it remained the world’s largest carmaker for the fifth consecutive year. Earlier this month, Chief Financial Officer Kenta Kon highlighted “strong demand for our products. We can barely cover the demand.” Looking ahead, the Japanese automotive giant is confident it can meet its 2025 full-year sales forecast of 9.8 million vehicles, representing 4.7 percent year-over-year growth.
With thick order books and customers willing to wait, Toyota allegedly feels comfortable stretching its product life cycles even further. From an average five-year run, extended to seven years during the 2000s, next-generation models could now stick around for close to a decade. According to Nikkei Asia, replacements for “flagship models” are likely to come every nine years.
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