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TOYOTA comparison study
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DescriptionTOYOTA comparison study
Brief Essay on Toyota
Toyota is a leading Japanese automobile company, with sales operations carried out all five continents and with over 9 million cars sold in the year 2006. It also has itself listed within the top 10 companies according to the fortune 500 companies. (www.toyota.com)
Toyota first operations started in Denmark, and since then there has been no looking back for Toyota. From the year 1963 to 2006, Toyota has sold approximately 15 million vehicles and believes in the policy of localisation. This policy means that Toyota produces their automobiles within the area in which they are sold. Toyota believes that this policy will help better understanding the needs of different community groups.(www.toyotauk.com)
Toyota has also proved itself as a leader in technology by the introduction their hybrid car, Prius. This car was established as one of the most popular hybrid cars. However, looking at the current scenario, Toyota is facing problems with the 2010 model of the Prius. Estimations say that Toyota has called back around 8 million cars due to technical faults in these cars, some of the major problems dealing with their brakes.
‘All for one and one for all’ was the tag line for the Toyota Aygo which was launched in 2001. (Grundon, M, 2005). This car was supposed to be one of Europe’s smallest cars produced as a trio between Toyota and PSA- Peugeot Citroen. (Grundon,M., 2005). The car stands out because of the mobility and performance it delivers. It is sleek looking, easy to park and drive and thus caters to the needs of modern man and woman on the go. Toyotas drivers were estimated to be around 53 years old. However, with the Aygo they hoped to change this statistic and hoped that those using the Aygo would be new to cars/ new drivers. (www.carepages.co.uk)
Toyota became the no.1 automaker in the year 2007. They overtook GM, who was previously at the top. The reason behind this is the fuel-efficiency and economical cost. Toyota cars are not only reliable, but also user friendly. GM has had to lay back its employees and cut down operations, where as Toyota is expanding its teams and increasing production rapidly. (Grace, F., 2007)
Toyota in the current market of today is facing tough competition from car manufacturers such as GM and Ford. Toyotas sales fell by 16% in January 2010 while the sales of GM increased by 14% while Ford’s share grew by 25 %.( 7DAYS newspaper, 2010). According to Ferdinand Dudenhoeffer, a researcher from the German auto institute CAR, ‘in the next few months sales of Toyota will be negatively affected in the US’. (7DAYS newspaper, 2010)
Minicar segment has been existing in this automobile industry since a very long ...
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