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Business Overview - Toyota Motor Company

             Toyota Company is a Japanese automobile manufacturer and is becoming the largest automaker in the world. In 1957, Toyota Motor Co. decided to expand its business into international markets. The first country on Toyota's list was the United States. In fact, the company is attracted by the United States because of its economic freedom, market size and stable political system. With these advantages, the U.S allows Toyota to gain more profit in this country. At first, Toyota did not get much attention from the American. However, when the company comes back strong after a poor start, Toyota is now turning into one of the top-selling brands in the U.S. .
             Company's Overview.
             Toyota Motor Co. was officially established in 1937 under control of Toyoda Kiichiro. The company's products are cars, trucks, buses, and robots. After coming back from the temporary suspension of its automotive production due to a chaotic economy of World War II, Toyota began a careful study about the American automobile manufacturers in order to perceive the U.S technical and economic superiority. In 1957, Toyota established the first Toyota Motor Sale, U.S.A., Inc. in the U.S., and at the same time, the first prototypes of the Toyopet Crown were also exported to this country. Nonetheless, this product was poorly accepted because of the high price and lack of horsepower. Therefore, in 1965, Toyota released a completely redesigned Toyopet known as the Toyota Corona to fit with the American drivers. During 1960s and 1970s, Toyota began exporting large numbers of automobiles to foreign markets, from Asia, Europe to North America. After that, in 1984, Toyota used "Joint Venture" to become partner with General Motors in the creation of New United Motor Manufacturing, Inc. to begin production in the U.S.A. two years later. For many decades, Toyota gains a lot of reputation in the foreign markets. In fact, Toyota's success comes from the company's ability to use appropriate strategies when entering into global markets, which are transnational and localization strategy.

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