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Essay / Toyota Case Study Analysis - 715
From November 2009 to 2010, the company recalled approximately 9 million vehicles worldwide. In March 2014, the company paid a $1.2 billion fine for hiding safety issues behind recalls. In Japan, sales of Toyota vehicles have gradually declined because companies based in America and Europe share operations in Japan. The majority of countries in which the company operates its operations are in Asia. And the company runs its research and development in industrialized states because highly skilled workers are needed to control research and development operations. The last 5 years have been unexpected for car manufacturers. Rising fuel costs and growing environmental concerns have led customers to choose smaller, more efficient vehicles, moving from fuel-guzzling cars to smaller, more efficient vehicles. Over the past five years, growth in Brazil, Russia, India and China has supported Toyota's production. The demand for Toyota cars has increased in these countries due to their rising incomes. And Western automakers have moved their production facilities to these countries to take advantage of their markets and benefit from low-cost production. Over the next 5 years, economies will continue to grow and automotive industry revenues are expected to grow by approximately 2.5% (per year), i.e.. $2.6