Toyota Motor Company Essay Example for Free

Toyota aim Company EssayIn the worldwide automotive industry, Toyota Motor Corporation is the track player in terms of revenue, profit and net worth as of April this year (Associated Press). The Aichi Prefecture, Japan-based automaker reported in a filing with the U.S. Securities and Exchange citizens committee consolidated earnings of 1.6 trillion yen or about $14.3 billion for the year ended Mar. 31, 2007.To have reached its current leadership position in the market, Toyota Motor follows a business strategy that focuses on safety, reliability, efficiency, and cost-effectiveness of its products. The company was able to capitalize on its smaller but more fuel-efficient models to increasingly gain bigger shares in different markets worldwide.The companys key market areas are China, Japan, North America, and Europe. Toyotas corporate goal is to hold on to its position as a market leader, season continuing its growth. In order to achieve this, the automaker believes in the impo rtance of advances in technology, production and marketing, quality control, and military forceening of its cost-efficiency model.Specifically, Toyotas strategies are focused ona) crack of full product lineup and distinguish products through hybrid technology that includes expansion of distribution reach for its Lexus model to reach the most number of countries, manufacturing orbiculate brands that would meet regional characteristics whileutilizing the same designs and core components.b) localization of global operations with targeted regional strategies the company understands that having a local manufacturing, marketing, and sales offices will patron it maximize that markets potential while saving on cost of shipping vehicles and parts. The localization wil lalso protect it from currency fluctuations and help it respond better to local preferences and tastes.Toyotas biggest strength is its ability to provide markets with good alternatives to bigger and more expensive vehicles. Its product lines are attractive and are designed to make them affordable for consumers to buy, while guardianship maintenance costs minimal.I dont consider Toyota to have a weak point, but rather, I consider it to be facing challenges. The carmakers biggest challenge, for me, is to stay competitive, not solely with the American and European carmakers, but with other Asian car manufacturers that also offer quality cars at affordable costs.BIBLIOGRAPHYTOYOTA. Home Page. http//www.toyota.co.jp/en/index.html (7 November 2007)Toyota overtakes GM in global vehicle sales, The Associated Press, 24 April 2007.http//www.msnbc.msn.com/id/18286221/ (7 November 2007)Toyota Motor Corp. U.S. Securities and Exchange Commission. http//sec.gov/cgi-bin/browse- edgar?action=getcompanyCIK=0001094517owner=includecount=40(7 November 2007)