Toyota To Boost Media Spend On Hybrid Models
News: Japanese automaker Toyota Motor will raise its media spend on hybrid models to 50% in the next 12-18 months, reports AM Online. The move is aimed at increasing its market share of new car sales in the UK to 5%. The sale of hybrid cars increased by 17% to 29,131 vehicles in 2013 in the UK, according to figures from the Society of Motor Manufacturers and Traders. The move will also enable Toyota to take advantage of its 'leadership position' and sell 100,000 hybrid vehicles in 2014. UK Marketing Director Chris Hayes stated that all Toyota's marketing as well as communication will be directed towards hybrid products. In the UK, the automaker accounts for 75% of hybrid vehicle sales. Hayes added that the demand for its hybrid mix is increasing in both retail and fleet markets.