FOR IMMEDIATE RELEASE:
HINO TRUCKS HAS RECORD RETAIL MONTH, ANNOUNCES SALES GOAL FOR 2008
April 22, 2008
Hino Trucks recorded a record month in March 2008 by attaining retail sales of 900 units and achieving 15 percent market share in the class 6 market segment, and 3 percent market share in the class 7 market. “This is a real testament to the gaining acceptance of our product in both these market segments,” says Nick Vermet, Senior Vice President, Sales and Customer Support. “The word is spreading about the low cost per mile operation our trucks provide to our customers,” he went on to add.
For its fiscal year which just ended on March 31st, Hino Trucks had retail sales of 5,350 trucks, off 960 units from the previous year. “As an industry, the class 6 & 7 market segments were down 38 percent in our 2007 fiscal year,” explained Glenn Ellis, Vice President, Marketing and Dealer Development. “We were able to gain market share in both of these segments and outpaced the market with only a 14 percent decline in sales year over year.”
Additionally, Hino Trucks grew its dealer network in 2007, now standing at 175 dealers nationwide.
Hino Trucks is forecasting the class 4 thru 7 market segments to be flat this year based on the current economic situation. However, Hino Trucks has set its sales goal to sell 7,000 units in its fiscal year 2008. “We believe we can achieve this aggressive target through growth of our existing dealers and through the addition of our new dealers,” added Vermet. Hino Trucks noted that a good portion of these additional sales will come in the east coast, thus the need to move production to Hino’s newest plant in Williamstown, WV. “In addition to aligning production with the majority of our customer base, the sheer size of the facility in West Virginia will allow for a more flexible manufacturing scenario,” says Bob Petz, Vice President, Logistics Operations. “In time, a paint booth will be added so we can offer our customers a wider range of paint options as an example.”
Hino Trucks is headquartered in Bloomfield Hills, Mich. The Toyota Group Company is the fastest growing medium duty truck nameplate in North America, and assembles trucks in Williamstown, WV.
For More Information:
Glenn Ellis, Vice President,
Marketing and Dealer Development
248-648-6417
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