Toyota Final Report

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Mission Statement

The overlying mission of Toyota Motor Corporation is to develop and provide innovative, safe and outstanding high quality products and services that meet a wide variety of customers demand to enrich the lives of the people around the world" (TMC, 2006). However we think the best of the rest mission statement given by Toyota authority is “To sustain profitable growth by providing the best customer experience and dealer support." Toyota has sought harmony between people, society, and the global environment through manufacturing. Since its foundation, it has been continuously contributing in the sustainable development of society through provision of innovative and high-quality products and services, and corporate social responsibility policies that lead the times. (Toyota website)

Executive summary
Toyota Motor Corporation, the most successful & influential automobile maker in the world market, commonly known as Toyota, is a multinational corporation headquartered in Japan. Toyota started in 1933 as a division of Toyoda Automatic Loom Works devoted to the production of automobiles under the direction of the founder's son, Kiichiro Toyoda. Its first vehicles were the A1 passenger car and the G1 in 1935 and AA in 1936. Toyota Motor Company was established as an independent and separate company in 1937.

From September 1947, Toyota's small-sized vehicles were sold under the name "Toyopet" The first vehicle sold under this name was the Toyopet SA, However, when Toyota eventually entered the American market in 1957 with the Crown, the name was not well received due to connotation of Toys and pets. The name was soon dropped for the American market but continued in other markets until the mid 1960's. The Toyota Motor Company was awarded its first Japanese Quality Control Award at the start of the 1980s and began participating in a wide variety of Motorsports. In 1982, the Toyota Motor Company and Toyota Motor Sales merged into one company, the Toyota Motor Corporation. Two years later, Toyota entered into a joint venture with GM called NUMMI, the New United Motor Manufacturing, Inc, operating an automobile manufacturing plant in Fremont, California. The factory was an old General Motors plant that had been closed for two years. Toyota then started to establish new brands at the end of the 1980s, with the launch of their luxury division Lexus in 1989. In the 1990s Toyota began to branch out from producing mostly compact cars by adding many larger and more luxurious vehicles to its lineup, including a full sized pickup. With over 30 million sold, the Corolla is one of the most popular and best selling cars in the world. Toyota also began production of the world's best selling hybrid car, the Prius, in 1997. Toyota also owns and operates Scion brands and has a majority shareholding stake in Daihatsu and Hino Motors, and minority shareholdings in Fuji Heavy Industries, Isuzu Motors, Yamaha Motors, and Mitsubishi Aircraft Corporation. Toyota is headquartered in Toyota City, Aichi and in Tokyo. In addition to manufacturing automobiles, Toyota provides financial services through its Toyota Financial Services division and also builds robots. Toyota Motor Corporation (including Toyota Financial Services) and Toyota Industries form the bulk of the Toyota Group, one of the largest conglomerates in the world including 522 subsidiaries. In 2002, Toyota managed to enter a Formula One works team and establish joint ventures with French motoring companies Citroën and Peugeot, a year after Toyota started producing cars in France. Toyota ranked eight on Forbes 2000 list of world’s leading companies for the year 2005.It is the world's largest automobile maker by sales. In 2008, Toyota achieved its long-held goal of becoming the No. 1 carmaker in the world, passing General Motors, which had been the leader since 1931. Per car, Toyota’s profits are four to six times higher compared with such American automotive...
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