Although Toyota ranks third in the industry, J.D. Power and Associates have recently ranked them first in quality. This quality study is said to be a key industry barometer of design and manufacturing skill. In 2002, Toyota and its Lexus luxury line led nine of sixteen categories studied. This has become an obvious advantage, and Toyota plans to exploit this advantage to increase their market share within the industry. As Toyota moves forward into the industry, they plan to keep their customers in mind, as their mission states: .
"Our goal is to provide for you: .
-Comfortable transactions that are characterized by a high level of trust.
-A strong sense that we truly take your concerns to heart as our own.
-Cars that are not only safe and reliable, but a pleasure to drive as well.
-Excellent service with you car being serviced in a timely manner, fixed right the .
first time, at an equitable price.".
Ford Motor Company ranked second in 2001 for US market share with 20.3 percent. (refer to graph 1) Toyota came in fourth with 10.7 percent of the U.S. market share. Chrysler Corporation ranked third with 12.4, not shown on graph. Fifty-eight percent of Toyota's sales occur in Japan, making Japan their largest market. Thirty percent of Toyota's sales occur in North America, with the majority of these sales located in the United States. Sixty-seven percent of Ford's sales occur in the United States, while twenty-two percent occur in Europe. All United States manufacturers are losing market share to foreign companies, not just Toyota. Other foreign manufacturers include: Honda, Nissan, Hyundai, and Kia. .
Ford Motor Company is currently ranked second with respect to world market share. With 7000 locations in over 140 countries, Ford controlled 12.8 percent of the world market in 2001. (refer to graph 2) While Toyota only controlled 7.5 percent of the world market share in 2001, they only reported fifty-six facilities in twenty-five countries.
