The oil crisis that swept through the United States in 1973 was a big factor that allowed Toyota to be successful entering the highly lucrative automobile market in this country.

After the U.S. decided that it was going to re-supply the Israeli military with weapons, OAPEC (Organization of Arab Petroleum Exporting Nations) decided to stop all oil shipments to the U.S. unless President Nixon and his administration agreed to stop helping fund the conflicts that Israel was involved in.

Due to the oil embargo imposed by OAPEC, the price per barrel of oil rose sharply. Worse yet, this was just the beginning of almost a decade of rising oil prices that finally ended in 1981 when they began to go back down. At the beginning of the 1970’s, a barrel of crude oil could be purchased on the open market for around $10 dollars. By the end of the decade, that same barrel of oil would cost nearly $100.

That which was dreadful for most Americans, and for American automobile manufacturers, turned out to be an opportunity, for the U.S. Toyota dealer.  The smaller more economical foreign vehicles began altering the perceptions of Americans on the value of cars. Many people were more than happy to trade power for fuel efficiency.

Americans car companies had little choice but to follow suit. Ford provided cars like the Pinto and later the Escort, Chevrolet, the Cavalier. However, in the realm of compact and sub-compact automobile manufacturing, the Japanese vehicles were able to gain sales momentum. Many people began to notice a distinct quality differential between American made vehicles and those constructed by the Japanese.

Toyota continues to benefit from the ability to supply Americans with their automobiles. They have managed to capture a nearly 18% market share in the highly competitive industry.

Contact a Toyota dealer to look at a new or slightly used certified Toyota vehicle to take advantage of the excellent opportunities that are available to you today.