Toyota And The Current Automobile Industry

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Introduction : Toyota is the super famous brand name in the current automobile industry. Toyota refers to a Japanese company 'Toyota Motor Corporation ', was established on 28th august 1937 by Kiichiro Toyoda as an adjunct to his father 's car making company ' Toyota Industries '. Toyota is a full flexed multinational automobile company engaged in designing, assembling, manufacturing and sales of personal to commercial vehicles and its accessory parts globally. Globally it secured 338,875 employees with a capital of 397.05 billion Yen (Toyota Motor Corporation, 2014). Toyota vehicle sales had increased tremendously as a result of focusing the customer value in terms of cost and quality, over a period of 1935-2010 as shown below. Source : Toyota Production System, 2013. Toyota was ranked the third biggest manufacturer of automobiles in 2012 and eleventh largest organization in terms of revenue. Toyota is one of the top most prominent organization supporting and spending on research and development in designing with worldwide R&D centers. It researches centers mainly located in USA, Japan, Europe, China and Asia-pacific. According to 2009 Scoreboard, Toyota ranked the first in R&D investments among the global top 50 R&D companies. Toyota has developed an extensive network among the multinational companies concurring with organization growth and increased the hike among the

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