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What led to_the_downfall_of_the_toyota_brand_n

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What led to_the_downfall_of_the_toyota_brand_n

  1. 1. What led to the downfall of theToyota brand-name worldwide? s1150027 Wataru Imaizumi
  2. 2. Contents Circumstances of fall of Toyota loss of Toyota Prius Toyota sales fall; Ford up sharply NHTSA Toyotas Humbling Fall Toyoda: "Priorities Became Confused" Reference
  3. 3. Circumstances of fall of ToyotaToyota had overtaken General Motors to become theworld’s biggest car company. It had stolen atechnological march on its rivals with the fast-sellingPrius hybrid. And its famed internal discipline,enshrined in the Toyota Way, would stop it fallingprey to the complacency and arrogance that had laidDetroit low.By early last year, however, Toyota wasgoing downhill fast.
  4. 4. loss of Toyotaafter eight years of growth and record profits, Toyotahad made a loss of 437 billion yen (£3.1 billion).Watanabe, 67, had to step down and Toyoda, 53,was appointed president.Toyota’s reputation forpeerless quality has been shredded. What started asa small problem with throttles sticking open hassnowballed into a crisis affecting 8m cars that willcost about £1.3 billion to fix.
  5. 5. PriusIt had stolen a technological march on its rivals withthe fast-selling Prius hybrid.Toyota struggled todesign, produce and deliver a fix for this problem, itreceived another bombshell reports in Japan andAmerica of inconsistent braking in the latest versionof the much-fêted Prius.Toyota may have to recall270,000of the hybrid vehicles, and last week there wererumours of other glitches.
  6. 6. Toyota sales fall; Ford upsharplyAutomakers on Tuesday released their U.S. salesfigures for February — the first full month sinceToyotas recall woes hit the headlines. Nearly all themajor companies except Toyota, whose salesdeclined almost 9 percent, reported double-digitpercentage increases over sales in February 2009.Ford Motor Co. led the way with a 43 percent jump,which let it seize the monthly top spot from GeneralMotors Co. for the first time since the late 1990s.
  7. 7. NHTSAThree-quarters of the fatal accidents (32 out of 43)were reported to NHTSA during the four monthssince Toyota recalled nearly 4 million vehicles inOctober for gas pedals becoming entrapped by floormats. Twenty-six fatal incidents were reported afterToyota recalled more than 2 million vehicles for"sticky pedals" in January.Forty-one fatalities occurred in vehicles equippedwith electronic throttle control systems, which,Toyota officials have insisted, have not beenimplicated as a source of sudden unintendedaccelerations.
  8. 8. Toyotas Humbling FallIts an age-old tradition here for companies caughtselling bad products or deceiving the public. Thedeeper the bow, the thinking goes, the deeper theremorse.And once the bowings over, the Japanesegovernment often allows Japanese corporations totackle their problems in private. But thats changing -slowly.
  9. 9. Toyoda: "Priorities BecameConfused"Toyota CEO Akio Toyoda apologized personally andrepeatedly Wednesday to the United States andmillions of American Toyota owners for safety lapsesthat have led to deaths and widespread recalls.Unimpressed lawmakers blistered the worlds largestautomaker with accusations of greed andinsensitivity.Toyota has recalled 8.5 million vehicles, mostly to fixproblems with floor mats trapping gas pedals or withpedals getting stuck.
  10. 10. Reference http://www.cbsnews. com/stories/2010/02/24/business/main6239098. shtml?tag=contentMain;contentBody http://www.cbsnews. com/stories/2010/02/24/eveningnews/main62400 51.shtml http://business.timesonline.co. uk/tol/business/industry_sectors/engineering/articl e7017880.ece http://www.washingtontimes. com/news/2010/mar/03/toyotas-sales-fall-as- more-fatalities-reported/

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