Toyota says the void in its lineup created by the departure of the Venza CUV easily can be filled by the midsize 4Runner SUV and midsize Highlander CUV.
The automaker announced March 2 it was killing the Venza, after years of declining U.S. sales for the Camry-based people-mover.
“We’re very well positioned with (the) 4Runner (SUV) and Highlander to offset the loss of sales in Venza and be able to respond to where customer demand is a little bit better,” Bill Fay, Toyota Div. group vice president, tells WardsAuto during the automaker’s March 3 U.S. sales call.
Fay says the decision to nix the Venza came after Toyota took a “long and hard” look at customer preferences, Toyota’s competitiveness within the Venza’s segment, Venza sales and the strength of the 4Runner and Highlander.
In 2014, Venza deliveries fell 16.3% to 29,991 units, from 2013’s 35,846, making the latest in a string of declining sales years.
The vehicle’s best year was its first full sales year of 2009, although even then it was underperforming expectations, as the 54,410 units sold were below Toyota’s 60,000-unit U.S. annual sales target.
Venza volume fell to 47,321 in 2010 and then 38,904 in 2011, WardsAuto data shows.
Sales of the CUV recovered in 2012 to 43,095 units, as the automaker made a concerted effort to market the vehicle and launched a refreshed ’13 model with an updated front fascia, three new exterior colors and a simplified ordering process that saw many features made standard.
Toyota Senior Vice President Bob Carter told WardsAuto in 2012 that while he considered Honda’s slower-selling Accord-based Crosstour the Venza’s top competitor, he wanted sales volume more akin to the Chevrolet Equinox and Ford Edge, which regularly top 100,000 units annually.
At the Venza’s October 2008 media preview, Carter said of the vehicle: “We saw an opportunity to capture buyers who wanted something more than a car, but less than an SUV.”
4Runner, Highlander on Roll of Late
Although it’s in the moribund Middle SUV segment, the 4Runner benefited from a ’14 refresh, which propelled sales of the light truck up a whopping 49.0% last year to 76,906 units.
The Highlander also has been on an upward trajectory, thanks to the ’14 debut of the third-generation model.
The Highlander, which WardsAuto classifies as a Middle CUV like the Venza but offers a third-row seat, posted a 14.5% gain to 146,127 units in 2014.
Fay says while production of the Venza for the U.S. will end in June at Toyota’s Georgetown, KY, plant, the vehicle will continue to be built for an unspecified period of time for export markets.
The conclusion of Venza production at Georgetown answers the question of how Toyota is going to make up for the Camry builds it will be losing at Subaru of Indiana in fall 2016.
That’s when the ascendant Subaru brand will take over at its plant in Lafayette, IN, the capacity Toyota has been using since spring 2007 for the Camry.
Those wishing to purchase a Venza have several deals to choose from. Buyatoyota.com, Toyota’s official U.S. retail site, shows 0% financing for 60 months and $500 cash back available on a ’15 Venza. Buyers also can take advantage of $2,000 cashback without special financing offers, or lease a ’15 Venza LE front-wheel-drive model for $229 a month for 36 months, with $3,399 due at signing.
