Toyota Motor Corporation is one of the taking car makers in the universe. It is founded in August 28, 1937 in Japan. Akio Toyoda is the current president of Toyota motor company. As of March 31, 2009, the capital of Toyota is estimated as 397. 05 billion hankerings. The major concern undertaken by Toyota is Motor Vehicle Production and Gross saless. It has been estimated that around 320,808 employees working at present in Toyota and its attached companies all over the universe as of March 31, 2009 ( Toyota, 2009 ) .
Even though Toyota was able to keep a steady growing rate both in gross revenues and production of vehicles till 2008, because of planetary economic crisis both the gross revenues and production of vehicles of Toyota has been come down in 2009. The company has produced 5,100,000 vehicles in Japan itself in 2007 and 5,160,000 in 2008. But the production has come down to 4,255,000 in 2009.
On the other manus the company has recorded 23,948. 0 million hankerings gross revenues in 2007 and 26,289. 2 million hankerings in 2008. But the gross revenues have dipped to 20,529. million hankerings in 2009. 8,524,000 Toyota vehicles have been sold in the universe in 2007 and 8,913,000 in 2008. But the figure of vehicles sold has slipped to 7,567,000 in 2009 ( Toyota, 2009 ) . International, regional, industrial environment of Toyota Toyota Company is presently runing in five continents and in 27 states with 53 fabricating units apart from its chief fabrication units in Japan. It has operations in more than 170 states all over the universe at present. It ever acquires a topographic point in the top 10 Fortune Global 500 endeavors list.
It has a good repute as the most socially and environmentally responsible car manufacturer in the universe ( Global Toyota, 2007 ) “ Toyota Financial Services ( TFS ) provides vehicle funding in 33 states worldwide. Some of the most diverse and fastest-growing among our planetary web of offices are those in the Asia Oceania Region. Over the last 5 old ages, their mean one-year plus growing has been a reeling 30 per centum ” ( Toyota Financial Services Global Presence, 2009 ) . Toyota is runing in one of the extremely contested automotive sector.
Apart from international car makers like, BMW, GM, etc, Toyota is confronting challenges from domestic car makers such as Nissan, Mitsubishi, etc. Toyota believes in placing the vehicles in order to provide the specific demands of the parts in which it operates. For illustration, Indian concern conditions and American concern conditions are wholly different for Toyota and they have specific usage made vehicles for different parts. Toyota has implemented a “ Merely in Time ” ( JIT ) production system which is extremely debated in the planetary corporate sector. ( Just in Time, or JIT – Toyota ‘s Manufacturing Technique, 2005 )
International and planetary scheme A company with transnational subdivisions and caput quarters can be referred as a planetary house. ( What is a planetary house? n. vitamin D ) It is non necessary that a company bring forthing goods locally and sells it internationally, needfully a planetary house. A planetary house ever produces goods locally and internationally and sells it in different market across the universe. Furthermore, a planetary house ever look for doing usage made goods for international market. For illustration, it is non possible for vehicle makers to do a standard vehicle suitable for the international market.
Even the same merchandise needs customization for different market because of the difference in international markets with regard to civilization, political relations, legal facets, environment conditions, economic conditions etc. Toyota is runing in more than 170 states at present with 53 fabricating units all over the universe as mentioned earlier, which is clearly an indicant that Toyota is a planetary house. Furthermore, Toyota is turn toing the demands of the diverse clients around the universe and they were able to do vehicles suited for regional penchants.
For illustration, for Indian conditions, Toyota has introduced two vehicles ; Qualis and Innova which can suit more people in the same auto whereas such vehicles may non accommodate for the American conditions. Americans like luxury autos more than the Indians and Toyota concentrated in doing luxury autos for American market. Therefore, Toyota was able to recognize the gustatory sensations of local people and they succeeded in bring forthing vehicles suited for each state which made them a true planetary company in all senses. Toyota is one of the taking car makers in the universe.
Rivals are fighting to vie with Toyota because of the superior quality, first-class supply concatenation, and really good after gross revenues support, Toyota offers to the consumers. In fact rivals are organizing regional axis to vie with Toyota. General Motors, Volkswagen, Ford, Honda, Fiat, Renault, Nissan, BMW, Hyundai etc are some of the major rivals for Toyota in car industry all over the universe. “ DaimlerChrysler and BMW accepted GM ‘s invitation to collaborate in joint development of intercrossed engineering, in portion to gang up on Toyota ” ( Target, Toyota: Rivals Try To Stumble Up the Carmaker on Its Way to No. , n. d. ) .
In other words, the rivals are doing all attempts to forestall Toyota from prolonging its superior public presentations. They have realized that cipher can vie with Toyota independently at present because of the superior technological progresss and characteristics incorporated to Toyota vehicles and that besides at cheaper rates compared to the rivals. In America, General Motors is the chief challengers for Toyota whereas in Europe it is BMW. In Asia the major challenges are coming from Hyundai whereas in the place state, Japan the major rival for Toyota is Honda.
Toyota is confronting challenges non merely from the American and European auto makers. In fact they are confronting challenges from their Asiatic opposite numbers, Korean auto makers like Hyundai and Kia. These Korean companies are offering vehicles with about similar qualities as that of the Toyota vehicles at cheaper rate than the Toyota vehicles. They have advertised their vehicles in comparing with the Toyota vehicles ; a direct onslaught on Toyota.
In other words, Toyota is targeted from all the corners ; Asia, America, Europe etc. While the house servants and Germans conflict to keep their land, Korean car manufacturers Hyundai and Kia are assailing Toyota “ from a 2nd forepart ” ( Target, Toyota: Rivals Try To Stumble Up the Carmaker on Its Way to No. 1, n. vitamin D. ) “ Toyota company makes a hybrid-powered ( gas and electric ) saloon — the Prius — that is being snapped up in US and European markets ” ( Toyota Motor Corporation: Toyota, Aichi Japan, 2009 ) . This vehicle from Toyota is more environment friendly and fuel efficient and it is besides in conformity with the Obama ‘s proposal to rejuvenate the car industries in America.
GM and other European auto makers are already afraid of the new entry from Toyota. They are already on the brink of devastation because of the current planetary fiscal crisis. The new user friendly and environment friendly hi tech auto from Toyota is a great challenge for the rivals. Toyota is non running blindly against the electric auto engineerings. They have batch of concerns about the success of electric autos. “ Mitsubishi Motors started renting its all-electric vehicle, the i-MiEV, in June. Following twelvemonth, Nissan Motor is set to let go of its electric auto, the Leaf.
But Toyota does non be after to present an all-electric auto until 2012 ” ( The New York times, 2009 ) . If the experiments of Mitsubishi and Nissan found success, they can take the auto market in future at least for some clip. But Toyota is expecting certain jobs in electric autos and unlike others they are non traveling all out for the electric autos. In short, Toyota was able to read the automotive market good so far, which helped them to maintain the figure one topographic point amidst stiff competitions from all over the parts in the universe.