Toyota Corporation Industry Facts the Term Paper

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According to Leuilette the only way of accomplishing this is if the, "auto industry flexes its lobbying muscle and pushes Congress to enact a gas tax to pay for research and development. Otherwise, according to Leuliette, the United States will become even more dependent on shrinking foreign oil supplies. Toyota is the second-largest carmaker worldwide and reported that it intends to increase its' lead over Ford. Toyota is expected to remain the worlds most profitable carmaker after making a net profit last year of double its' nearest competitor. Further stated is that, "Japanese manufacturers have been able to steal market share from the American producers in their home market, recently starting to compete against U.S. pick-up trucks and large offroaders, the most profitable vehicles.

Toyota is also rapidly gaining share in Europe and is building new factories there as well as in China and the U.S. On Tuesday the scale of the problem facing U.S. carmakers was underlined when Ford slipped back into loss in its automotive business, although record financial services profits helped it beat its own forecasts for the second quarter.

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According to CEO, Don Leclair the north American market had already been sacrificed through reduction of the least profitable sales. Leclair further predicted that the high stock prices of automobiles is the reason for the price war in the U.S." And finally stated was that, " Toyota is aiming to take 15 per cent of the world car market in the next decade, almost exactly on a par with GM." (NewsTarget, 2005)

Summary

It is clear that with the demand presently being experienced in the auto industry and one that continues to show evidence of further growth in relation to hybrid vehicles that Toyota is a leader in the market as well as in the industry. Combined with the information that production increases are set for several countries and new production plants are being planned, sales for the upcoming fiscal years should notice a significant increase over previous years financial reporting......

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