Toyota

Toyota has topped a survey gauging the satisfaction of US customers for the second year in a row. Toyota earned a satisfaction rating of 87 out of 100 on the index compared with an industry average of 81. US researchers at JD Power stated that Toyota was the most reliable car in a survey of three year old vehicles.

Toyota has raised its annual profit forecasts after reporting strong results for the three months to end of September. The firm saw operating profits rise by 44% during the quarter, to reach $4.9 billion as sales continued to increase. The results beat expectations and now Toyota expects operating profit for the year to reach $1.9 trillion. Toyota's net sales for the half year to September increased 15.3% to $9.9 trillion. The firm has been successful with models such as the Camry and Yaris subcompact. In addition, Toyota announced plans to acquire a 5.9% share in Japanese truck firm Isuzu, in a bid to develop engine technology together. Both firms plan to collaborate to develop small diesel engines, and look at how to mitigate emissions and develop alternative fuel technologies.

Toyota Motor Corporation has adopted a strategy of reducing costs by producing all local content in its production bases in each region, including Thailand. The company decided to change its production strategy because of fierce competition due to trade liberalization, its expectations as a global manufacturing base, and signs of structural change in the markets. Toyota also established a new system of production, called the innovative international multi-purpose vehicle project (IMV), that would increase cost competitiveness and also improve the skills of the workforce and management in each country. In Thailand, Toyota has two plants, one can produce 250,000 IMV units and the other plant has a production capacity for 200,000 passenger cars. Toyota has set up a new plant with a production capacity of 100,000 IMV units, which is expected to start operations next year, to support its plan to produce the entire local content in Thailand.

Toyota operates under a global charter that promotes environmental responsibility throughout the entire company. Toyota is leading the way in lowering emission and improving fuel economy in gasoline powered vehicles. They created the world's first mass production gas/electric hybrid car and are also at the forefront of developing tomorrow's fuel cell vehicles. Toyota has a dedication to environmental preservation and as a part of it they developed strong partnerships with organizations like the National Arbor Day Foundation and the National Environmental Education and Training Foundation. Also, Toyota's two of their manufacturing plants have been designated as zero landfill producing operations. Their "green" complex in California has one of the largest commercial solar panel systems in North America and conserves more than 11 million gallons of drinking water annually through special pipelines that supply recycled water for cooling and landscaping.

Toyota reiterated its goal to sell close to ten million cars by 2010. Toyota's growth in the lucrative European and United States markets remains strong. In Europe, the market share has risen to 5.8%, and last year was there first time it sold more than a million cars. In the United States, Toyota is set to overtake General Motors in term of unit sales. During the first half of this year, Toyota's sales in the United States rose 7.1% to 4.36 million vehicles, while General Motors sales fell 2.3% to 4.6 million.

Toyota's strategy is rapid response to changing consumer demand. By executing the fastest automobile design in the industry, Toyota has driven the speed of product development down to well under two years in an industry

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