Toyota’s mission was to capture the overall market in theUKand hence to do that they really had to focus on their strategies and re-think or in other words, assembling together with the faith that they have the capability to produce the best of the best.Toyotaalways had this vision of being the leading car manufacturer and leading from the front, providing the tools and principles which could be an example for the other companies. They implemented the rules and had the capability to follow on those rules but in order to compete the World market you need the focus and a clear mind to fight with the daily stresses and uncertainties.Toyotahad this strategy of increasing the production rate from 2.5 million to a good one which they actually did, but I still think that the idea of makin the joint venture with the PSA company in theEuropewas not a good idea. Yes, they were able to produce good in mass production but all the three companies were working in tandom as the product was being manufactured together but the distribution channel was different.
In the year 2002, the penetration rate was 40% asToyota’s position now in the International Market was now totally different. As their implications won the company many awards as well. The prius hybrid model won the European car of the year award in the year 2005. Prius was responsible for producing 180,000 units in the whole ofEuropewith an expectation of selling 1,000,000 units all over the world. It was the right time for the competition to just get started as the technology ofToyotalaunched Lexus RX 400h in the year 2005. It was based only to target the premiur customer with a price of 6,200 pounds.Toyotais also responsible for being the first in the top five biggest environmental friendly cars in the whole ofEurope.
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