In a candid interview, Toyota's North America CEO Ted Ogawa is sounding the alarm on the automotive industry's top concern: affordability. As consumers continue to grapple with rising costs of living, car buyers are increasingly prioritizing budget-friendly options. Ogawa explains that the industry must adapt to this shift, and that manufacturers like Toyota are working to reduce prices without compromising on quality and safety features. However, with the looming uncertainty of the USMCA (United States-Mexico-Canada Agreement) renewal, the industry is facing a potential double whammy. If the trade deal isn't renewed, it could lead to higher tariffs and increased costs for manufacturers, ultimately passed on to consumers. Ogawa sheds light on the potential consequences and what it would mean for the automotive landscape. Meanwhile, Toyota fans have been eagerly awaiting the release of the compact pickup truck, but Ogawa confirms that dealers will have to wait a bit longer. The CEO shares his vision for the new model and why it's worth the wait. Will Toyota's commitment to affordability and innovation pay off in the long run? Read on to find out what Ogawa has to say in this exclusive interview.
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.
