After reading the news below I am very impressed by Toyota with hard work until it could be a great company.
Toyota Motor Corp. zoomed to a record profit of 2.17 trillion yen for the fiscal year to March, up 19% from a year earlier, supported by sales growth in the US and the perk of cheap yen.
Toyota President Akio Toyoda told reporters Friday the Japanese car seems to be back on track for "sustainable growth," although the coming year will be an important test. "Keep the spirit Akio Toyoda"
Looking ahead, the company announced it expects profit growth of 3.5% for 2:25 trillion yen for the fiscal year through March 2016.
Since Toyoda, grandson of the founder of the automaker, took the helm in 2009, Toyota has gone through hard times, is getting involved in a massive recall scandal, especially in the US
Scandal swelled to millions of vehicles recalled for various problems, including faulty brakes, sticky gas pedals and defective floor mats.
"This year will be decisive in showing whether Toyota can head toward sustainable growth or we will be forced to turn back," he said, referring to the recall failures and financial crisis of 2008.
Annual sales grew 6% to 27.23 trillion yen, although fewer vehicles were sold worldwide. Cost cutting and cheap yen helped.
Maker of the Camry sedan and Prius hybrid has been the best-selling car in the world over the last three years in the face of fierce competition from Volkswagen AG of Germany and General Motors Co US
Since withdrawal appear, Toyoda announced a halt to the expansion of such unintentional opening of new auto-assembly plant and is not focused on cost-cutting, quality control, training of personnel and make more of existing plants.
It was a three-year absence was appointed recently. Last month, Toyota announced a new plant in Mexico, with an eye on the lucrative North American market, as well as factory in China, where despite a few bumps, the long-term growth potential remains huge.
Before the scandal, Toyota boasted a reputation for meticulous quality, super-lean production and management which empowered workers. But admits that he has grown too fast.
After the scandal, Toyota launched TNGA, or Toyota New Global Architecture, the current development of products to avoid overlapping and to encourage joint technology and parts, to reduce waste while being able to adapt to different markets and types of buyers.
The first product under the architecture will be held later this year, theoretically increase profitability.
Over the years, Toyota has been seen as a model of reliable and gives good mileage, but they have also been seen as bland and outdated.
Toyoda is trying to change that, stressing the need to chisel out the reputation of glamor and luxury are some European and American rivals already have, but it remains elusive for Toyota.
For the January-March quarter, Toyota reported a profit of 446.4 billion yen, up 50% from the previous year.
Last year, Toyota claims the automotive industry milestone by selling more than 10 million vehicles a year, at 10.23 million vehicles.