Toyota is a major manufacturer and distributor of automobiles. Being a main player in the automobile industry, the company has acquired several essential business strengths that made it succeed for a number of years. Aside from making products carrying popular brand names, the company also takes pride of its product lines and innovative staff. Despite their strengths, Toyota has also encountered different problems that need to be addressed. These include the global financial crisis as well as the growing competition in the industry. To address these identified business concerns, it has been recommended that the company should consider limiting its product portfolio as well as conducting its target markets. These would help the company stabilize its financial status through sales generation and cost reduction. The following Report concerns global car maker Toyota, inside we discover that Toyota has reached a global market share of 10%, with a goal to be the world’s best auto manufacturer ahead of General Motors (GM), by achieving 15%. By focusing on market share instead of profits, the emphasis has shifted towards product quality and customer satisfaction. Its key strengths include product quality, efficiency of production, R&D, and sales satisfaction. Toyota is also taking advantage of numerous opportunities, such as forming a close relationship with Honda and leading the way in hybrid technology. Despite these many strengths, Toyota is not without its share of problems. By unifying executive training, better understanding culture, and standardising production methods, cost estimation, and achieving economies of scale.
The country of Japan is the centre of the operations of the company. In the country alone, there are a total of twelve plants within the Toyota City and the other parts of the Aichi Prefecture. Similarly, there are also manufacturing companies in Kyushu, Hokkaido, and Tohoku. On the other hand, the company has over fifty manufacturing companies overseas. Outside Japan, manufacturing plants are located in twenty-six countries and regions. The company employs their own kind of quality model.
“Toyota will continue to innovate relentlessly to ensure further growth. “ VISION:-
“Toyota aims to achieve long-term, stable growth in harmony with the environment, the global economy, the local communities, it serves, and its stakeholders.” MISSION :-
“Toyota seeks to create a more prosperous society through automotive manufacturing.” Toyota success today
Toyota participates in community activities, sponsoring educational and cultural programs as well as research. Today, Toyota is the world's second or third largest manufacturer of automobiles in both unit sales and in net sales, and the #1 seller of retail vehicles in the US. In the United States, Toyota has roughly double the sales of Honda, and has replaced Chrysler Group as the #3 seller. It produces over 5.5 million vehicles per year, equivalent to one every six seconds. It is worth noting that, while German automakers tend to use symbols and numbers, and Americans tend to throw away names frequently, Toyota sticks by a name as long as a car is successful, and doesn't toss names onto cars that don't fit them. The Land Cruiser started in 1950; the Corolla in 1966; the Celica in 1970; the Camry in 1983; the 4Runner in 1984. Notable "dropped" names include the Corona (with its tendency to die from severe rust), Cressida (dropped for the introduction of Lexus in the US), unpopular pickups (T100, HiLux, Compact Pickup), and minivans (Van, Previa). Toyota Motor Corporation today
In April 2002, Toyota adopted the 2010 Global Vision, a vision for meeting mobility needs in a way that respects our earth and all people. It is made of long-term policies centered on the basic theme of 'innovation into the future.' Four key themes based on trends seen as developing from 2020 to around 2030 are: * Toward a recycle-oriented society
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