TOYOTA MOTOR CORPORATION
Toyota Motor Corporation is a famous Japanese multinational corporation and can be taken as the second largest producers of trucks, automobiles, robots, buses and financial services as well. Kiichiro Toyoda is the founder of Toyota who was popular for inventing the automatic loom. The spirit of creation and research was inherited by Kiichiro from his father and thus he spends his entire life in the spirit of manufacturing cars. Many years of hard work finally made Kiichiro in completing the A1 prototype vehicle in the year of 1935, which is said to be the beginning of creation of Toyota Motors Corporation.
The company's first Type A Engine manufactured in the year ...view middle of the document...
Toyota prius 2. Toyota fortuner3. Toyota innova 4. Toyota camry5. Toyota corolla 6. Toyota etios7. Toyota land cruiser prado etc. |
Competitors | 1. Volkswagen 2. Hyundai 3. Ford 4. Honda 5. Tata 6. Audi 7. BMW 8. Tata motors 9. Chevrolet |
An automobile maker that now operates in nearly 200 countries around the world and is known for making fuel-efficient, economical vehicles, including cars, trucks, people carriers and sports utility vehicles. It is often viewed as being at the forefront of alternative fuel vehicles but has also faced criticism in recent years for its lack of quality and potential safety risks. However, the company continues to hold a strong market position and must look forward in terms of leveraging its strengths for identifiable opportunities while addressing its weaknesses and perceived threats in the market and even internally.
Strength | 1. Innovative culture2. Brand reputation valued
3. Industry leader in production and sales.4. Strong brand portfolio5. The leader in “green” cars development6. World class R&D and engineering capabilities7. High brand awareness and market presence in the international market
8. Popular in motorsport and sponsoring events |
Weakness | 1. Large-scale recalls2. Weak presence in the emerging markets |
Opportunity | 1. Positive attitude towards “green” vehicles. 2. Increasing fuel prices 3. Changing customer needs. 4. Growth through acquisitions. |
Threats | 1. Rising raw material prices. 2. New emission standards 3. Decreasing fuel prices 4. Intense competition 5. Natural disasters 6. Appreciating yen exchange rate |
1. Innovative culture
Toyota is one of the most innovative auto companies and has a strong culture that is focused on constant innovation. The company was the first to introduce kaizen, kanban and total quality management systems widely in their organization. The company was the first to mass-produce and sell hybrid vehicles too.
2. Brand reputation valued at $30 billion
Toyota’s brand is the most valued automotive brand in the world. The business is known for its environmentally friendly, safe and durable cars that are sold in more than 170 countries.
3. Industry leader in production and sales
Toyota was the first company to introduce lean manufacturing and total quality management practices in manufacturing process. For some time, the company was the only practitioner of these practices and had the lowest manufacturing and production costs worldwide. Although many manufacturers were able to replicate toyota’s lean manufacturing system, the company is still one of the most profitable manufacturers in the world.
4. Strong brand portfolio
Toyota currently sells about 70 different models of cars under its namesake brand. This does not only increase brands awareness but also satisfies nearly every consumer...