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The new entry level of the Australian luxury market is the $1.8 million and up Toyota Corolla.
The luxury-car industry has been on the decline for years and Toyota has seen its market share plummet since it started producing Corollas in Australia.
Its sales are down to around 30,000 a year in Australia, compared with 60,000 in the US, but Toyota has managed to capture market share in some markets where other brands struggle.
In Australia, Toyota has been in a race with Hyundai, Nissan, Kia and Renault to gain market share and this is why it has done well in the last couple of years.
“The Japanese brand is still in the driver’s seat, with Toyota in second place,” said Richard McElroy, chief executive of car consultancy iCarbon.
He added Toyota’s dominance in Australia had created a market opportunity.
A new era of luxury has arrived In the US and Europe, luxury brands such as Mercedes-Benz, Audi, Porsche and BMW have been trying to catch up with the Japanese brands and this trend has accelerated in Australia since the arrival of Toyota.
Sales of the Corolla and Toyota have risen by about 30 per cent and 30 per 100,000 vehicles, respectively, in Australia over the past year, according to the National Automobile Dealers Association.
Toyota has made some big moves in Australia and has developed a strong brand identity with a new “Corolla” brand in Australia that it has launched.
It has been one of the few Japanese brands that has been successful in Australia despite not having a major presence in Australia for a long time.
According to the NADA, Toyota’s Corolla brand has more than $20 billion in sales and is responsible for about 30,300 jobs across Australia.
It also has its headquarters in Sydney and is one of Australia’s biggest carmakers.
Australian Toyota Corolla owners are increasingly turning to the Toyota service centres for warranty repairs and maintenance, which has made Toyota more attractive to buyers.
While Toyota’s market share has remained stable in Australia compared with other luxury brands, it has been steadily losing market share to its competitors in the luxury market.
However, Toyota is working hard to win back some of that market share, especially with a major Australian factory being built in Queensland and the company has started expanding production in other countries, including China.
At the same time, Toyota Australia is also building its own manufacturing facilities in Japan, which will also be expanded.
One of the major problems Toyota is having is the lack of an Australian carmaker in its core markets, where its cars are a bigger share of sales than in other markets.
Some analysts believe Toyota has not fully developed its Japanese market, where the company makes its cars.
Other factors that are holding back the Corollans market are the high cost of petrol, the poor economy in Japan and the lack in car-share programs in many Australian cities.
But Toyota is in the midst of a comeback, with a second generation Corolla to be launched later this year.
Australia is now the third largest luxury market in the world, behind the US.