Toyota’s CEO and President Akio Toyoda attests that the past few months of scrutiny will ultimately make the company stronger than ever before. He also admits the experience has been a “good lesson.”
Toyoda, who only took the helm of the company about a year ago, has been at the forefront of the company’s woes, even testifying before Congress. He also has become personally committed to overseeing the company’s improvements to safety and quality assurance.
“There is a Japanese proverb: After the rain, the ground hardens,” Toyoda said in an interview yesterday. “I am very confident we will look back and say the company has become more focused on our customers and safety because we went through this period.”
The root of Toyota’s problems stems from around 2003 according to Toyoda, when the Japanese company began expanding rapidly and may have lost sight of the Toyota Way. This sloppiness amid sudden growth led to the recalls of millions of vehicles worldwide, and gave other brands such as Ford and Hyundai an opportunity to win over consumers in the the U.S.
While the company may eventually become stronger, the CEO’s words come at a time when Toyota’s recent sales incentives may be losing their luster, according to new reports.
“We’re noticing that Toyota’s incentive program is starting to fall on deaf ears since most of the people who were open to getting deals from the automaker already made their purchases,” said Edmunds analyst Jessica Caldwell.
Although Toyota still faces challenges, the company remains committed not only to safety and quality, but also intends to provide more innovative products. Even Akio Toyoda admitted that the company cannot continue to “just keep doing the Camry” like they’ve been doing. The leading hybrid maker has also entered a new partnership with EV manufacturer Tesla Motors to build electric vehicles together in Northern California, which should at least help Toyota retain its reputation for being a green technology leader.
* * *
As always find more Toyota news on this blog. Subscribe now.
{ 1 trackback }
{ 0 comments… add one now }