FACING THE FUTURE

Facing the Future



Facing the Future

Introduction

Toyota is a Japanese multinational company, founded in 1933 by Kiichiro Toyoda. In the 1980, Toyota first caught the attention of the world, when it was noticed that there was something special about Japanese quality and efficiency: Japanese cars lasted longer than American cars and require fewer repairs (Carson & Vaitheeswaran, 2007, pp.45). In July 2006, Toyota crossed over Ford in car sales, and in 2007, it became the first car manufacturer in the world by overtaking General Motors. There was a speculation that the year 2008 was a year when there was production and sales of approximately 9.8 million vehicles. Toyota is the leader in the automotive industry, featuring a box of eight-speed automatic transmission guide, real time traffic routing with dynamic reallocation, and a four-zone climate control with infrared technology in some of their models. For the vehicle manufacturers, the following are important: customers, financial community, franchised dealer networks, suppliers and internal resources and competence.

Current Market Position and Future Direction

Toyota has been relentlessly thriving in inserting contemporary forms into the market and having eclectic assortment. The U.S. markets are important because they serve as an indicator of how global markets work and how their motion influences the other countries. That is why the sales results of June Toyota have taken the warning light for the Japanese manufacturer. By itself, the entire U.S. market is in recession (although there are brands that do not seem to realize and continue to grow as Honda), however, where the firm has a loss of that size is that last year was crowned as the world's largest manufacturer, must be to examine things of new forms which assisted Toyota to undoubtedly advance its sales figures and even bettering the market of other leading vehicle manufacturer like General engines, Renault, Ford and Volkswagen and, therefore, has become the world's premier carmaker. Toyota's Hybrids have 75% of market share in US hybrid vehicle commerce, which had 15% rush in its sales in 2007-2008.Toyota's administration focuses on expertise, and utilizes all the sales capabilities to propel development, with the support of value, cost, and human resources (Clemens, 2011, pp. 15). Toyota's design accomplishes new grades in security for their vehicles and eco-friendly motoring.

In year completed 2007, Toyota set new notes with sales striking 9.34 million with snare incomes increasing by 6.0% and snare earnings displayed an increase of 26%. Toyota has furthermore hiked the dividends paid to its shareholders by 20% in 2008, and it has been thriving in giving bonus hikes to shareholders for the eight successive years. In the year 2008, Toyota's snare sales come to a spectacular figure of 8.97 million, which at that international position was a remarkable achievement. Toyota's sale has been forecasted previous to be 9.7 million in the fiscal year 2009. Analysis on the overall business scenario and car structure revealed that some models of the Japanese carmaker had flaws in the design and mechanical structure. The media were the first one to criticize Toyota's communication response to ...