I. Brief background of Toyota’s company.
The Toyota Motor Company is one of the largest automobile manufacturers in the world. The business is known for environmentally friendly, safe and durable cars that conducts their business worldwide with 52 overseas manufacturing companies in 27 countries and regions. Toyota's vehicles are sold in more than 160 countries and regions. (1) Toyota Motor Company was founded by Kiichiro Toyoda in 1937 as a development from his father’s company Toyota Industries. The first vehicles were the A1 passenger car and the G1 in1935. In 1958, Toyota has failed to export compact cars to the U.S because of low quality and styling. After redesigning their automobiles and improving, they made a second and successful. The company cans entry into the American market. Toyota added a hybrid option to their popular Camry sedan in 2006 and began building it in the United States at their massive Kentucky plant. The company also opened up their 10th U.S. plant in San Antonio, Texas, to build pickups. In addition, the company launched the FJ Cruiser with a design that harkens to the early years of the rugged Land Cruiser, the only vehicle Toyota has continuously sold throughout its entire 50-year history in America. As a result, sales surged to more than 2.5 million for the first time and Toyota established them self as the third best-selling automotive company in the United State. (1) Toyota currently own and operators Lexus, Scions brands and has a majority shareholding stake in Daihatsu Motors, and minority shareholding in Fuji Heavy Industries Isuzu Motors and Yamaha Motors. (2)
II. Short market analysis
The main targets of Toyota’s company are Japan and North America, but recently they can see a strong growth in Asian and South America markets. (3)Toyota has three different divisions to target three specific segments. The first division, known as Scion, targets vehicles to people who value quality and looks at an affordable price....
Please join StudyMode to read the full document