In today automobiles industry, Toyota is well-known not only in Asia but also all over the world. Established seven decades ago, we could say that Toyota brand has been appeared most of countries all over the world, and they have a big influence on automobiles industry. Beside the success of Toyota through decades, Toyota has faced with many obstacle that affect strongly on its reputation in a few years back.
Overview Toyota was found by Sakichi Toyoda. It traces the company's development through 1937, when Toyota Motor Co., Ltd was established with the mission is to make maximum long-term profits for its stockholders and be a good corporate citizen. In 1950, a Toyota motor sale Co., Ltd was built because the company faces a financial crisis. After thirty years, Toyota Motor Co., Ltd and Toyota motor sale Co., Ltd are merged into Toyota Motor Corporation, 1982. The director of Toyota Corporation is Mr. Fujio Cho. Today, Toyota is the world's second or third largest automobiles manufacturer in both unit sales and in net sales, and the No.1 seller of retail vehicles in the US. It produces over 5.5 million vehicles per year. Toyota Motor Vietnam (TMV) was established in 1995 and official opening in October 1996. President is Mr. Akito Tachibana. Vietnam Toyota’s product includes Hiace, Camry, Corolla Altis, Innova, Vios and Fortuner (Locally-produced models)and Land Cruiser, Hilux (Imported models), with a production capacity of 20,000 vehicles/year. TMV is possessed by three associates: Toyota Motor Corporation (70%), Vietnam Engine and Agricultural Machinery Corporation – VEAM (20%), KUO Singapore Pte. Ltd (10%).
Fact issues The first root problem which Toyota Vietnam encounters is business ethics. TMV is irresponsible in securing the customers’ safety. Although, during production process, the company detected three seriously technical flaws