Toyota's North America CEO Ted Ogawa is sounding the alarm on a pressing issue facing the automotive industry: affordability. In a recent interview, Ogawa highlighted the growing concern among manufacturers, including Toyota, that consumers are becoming increasingly priced out of new vehicles due to rising production costs, supply chain disruptions, and other factors. As the industry grapples with this challenge, another looming deadline looms: the renegotiation of the USMCA trade agreement. If the deal isn't renewed, it could have significant implications for the auto sector, including tariffs and other trade barriers. Meanwhile, Toyota fans are eagerly awaiting the introduction of a new compact pickup truck, but Ogawa has some bad news: it won't arrive until dealers are ready.
Toyota's North America CEO Ted Ogawa discusses why affordability has become the industry's top concern, what happens if USMCA isn't renewed, and why dealers must wait for a compact pickup.
