Last Updated 20 Apr 2022

Major Competitors for Toyota Company

Category Cars, Toyota
Words 551 (3 pages)
Views 584

Major Competitors for TOYOTA Company Toyota Motor, among the world's largest automotive manufacturers by auto sales, designs and manufactures a diverse product line-up that ranges from subcompacts to luxury and sports vehicles to SUVs, trucks, minivans, and buses. Its vehicles are produced either with combustion or hybrid engines, as with the Prius. Toyota's subsidiaries also manufacture vehicles: Daihatsu Motor produces mini-vehicles, while Hino Motors produces trucks and buses. Additionally, Toyota makes automotive parts for its own use and for sale to others.

Popular models include the Camry, Corolla, Land Cruiser, and luxury Lexus line, as well as the Tundra truck. Ford Motor Company is the second-largest automobile company in the world. Ford's main focus is automobiles; however, they also operate in Ford Credit and Hertz Corporation. Ford also has controlling interest in Mazda Motor Corporation. Ford was established June, 1903; in an old wagon factory in Detroit Michigan. In 1903, Ford began production on a two-cylinder, 8 horsepower called the Model A. They produced a total of 1,708 of these cars in their first year of operation.

Toyota Motor Corporation was Japan's largest car company. Toyota ranked the world’s third largest by the year 2000. The company could produce near five million car units annually in the 1990s and controlled approximately 10 percent of the global market. Toyota was founded by a man named Kiichiro Toyoda in 1933. He did not produce his first car until 1935. By this time General Motors and Ford were already operating in Japan. Both companies are manufactures of cars which are sold in the United States. One is made in Japan and the other in the United States.

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They are both a financially well because of the popularity of their cars. The accounting criteria's that they both face are different because of the foreign rules and regulations. Both companies are faced with their own set of rules that have to be followed, but Toyota is faced with more issues since they sell their cars in the United States. Toyota's recent string of troubles - from multiple recalls over unintended acceleration to a new report this morning that their popular Prius hybrid could have problems with its braking system -- created a series of questions in the minds of their owners.

Where the public might have previously thought that recall problems were the bastion of the domestics and safety issues were permanently in our rear view mirrors after decades of innovation and pressure from the U. S. Department of Transportation, now it appears that there's a new world order: could Toyota be, after all, mortal? Where some previously believed the company could do no wrong, there does now exist a void. A few competitors have a crystal clear idea of how to fill that void.

In the wake of the recent unintended acceleration recall, all manner of competitors have created specific sales campaigns to target Toyota owners. General Motors, Ford, Chrysler and Hyundai have all stepped up to offer official rebates to current Toyota owners, while other brands such as Mazda are specifically targeting Toyota owners through some savvy keyword advertising on the web. All in all it spells out one message: Toyota owners might - for the first time in a long time - consider another brand and if they do, some manufacturers want it to be their brand and theirs alone.

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