Toyota Industries Corporation Business Report

Introduction

The company started operation in 1933 as the automobile division of Toyota Industries Corporation. Toyota became an independent accompany on August 28, 1937. The Toyota Motor Company and Toyota Motor Sales joined together in 1982, to become the Toyota Motor Corporation of today, which is considered to be one of the largest automobile companies in the world. Toyota sells its vehicles in more than 170 countries and regions under the Toyota, Lexus, Daihatsu, Hino brand and non-automotive. Apart from 12 plants in Japan, Toyota Motor Corporation have 54 manufacturing companies in 27 countries, which manufacture Lexus and Toyota vehicles and related parts and accessories. (Company report, 2009). Toyota corporation is growing to be an icon industry with regard to car manufacture, even as innovation and customer specificity becomes mandatory for success in the industry.

Toyota has always been known over the world for its high quality products; However, Toyota’s current goal is to retain its reputation as it has been affected by the recent safety recall. Therefore, more attention is paid to the development of safety-related technology in order to improve customer safety, manufacture the safest and most reliable cars in the real world and consequently achieve its goal, which is becoming the leader in the area of safety (Uchiyamada, 2010).

Company profile and Goals

In addition, Toyota has also set a number of goals related to the environment as its recent strategy is focused on developing environmental technologies and manufacturing eco-friendly vehicles such as Pirus and Auris. These goals are:

1- Promote the development of technologies to achieve best fuel efficiency performance.

2- Introduce vehicle technologies, which support the diversification of energy and fuel sources.

3- Promote the development of environmentally-friendly vehicles and guarantee wider market acceptance.

4- Promote and apply the Design for Recycling concept.

5- Minimise waste and the necessity to recycle material throughout all operations and processes.

6- Minimise water consumption.

7- Progressively minimise the environmental affect of Toyota cars over their product life cycle.

Moreover, Toyota is now working hard to achieve sales of one million hybrids per year by the 2010s and accelerating its global plug-in hybrid development program (Company environmental report 2009).

New Product Development Process

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