After having to issue numerous recalls and respond to related litigation, this publicly traded automotive company headquartered in Aichi, Japan, is now trying hard to recover the strong reputation it once held for building reliable vehicles. Started back in 1937, Toyota now employs well over 300,000 workers across the globe. While the past five years have definitely been very rough, Toyota is pleased to be showing distinct profits again.
The following information looks at some of the reasons why this company is expected to enjoy a very promising future.
September 2014 Exhibition -- Part of a Plan to Revitalize the Company
During this fall exhibition and beyond, Toyota is hoping to “display its wide-ranging initiatives aimed at developing a smart mobility society which links people, cars, and cities.” Furthermore, “Toyota wants to implement a vehicle-to-vehicle and vehicle-to-infrastructure cooperative ITS aimed at creating a faster and safer transportation reality.”
Toyota believes it can meet its newest goals mainly by focusing on: specific new safety technologies; new systems that will help drivers sense the immediate presence of both other cars and pedestrians; smoother highway driving capabilities; and explaining why it believes so strongly in its hydrogen fuel cell car and other new vehicles.
Toyota’s 2015 Hilux Compact Pickup
Although many Americans often think of other companies first when they want to buy a new pickup truck, Toyota is trying hard to change that mindset with its 2015 Hilux. In fact, this truck is currently the fastest-selling vehicle in Australia, although Ford’s Ranger is doing all it can to catch up. Toyota is counting on Americans to fall in love with this truck’s “Highlander-meets-Corolla grille divided into horizontal chrome bars.” While it may not be the most powerful truck on the road, the company strongly believes in its 2.5 and 3.0 –Liter engines, “plus an optional range-topping 4.0-Litre petrol V6.”
Ongoing Concerns about Past Accelerator Problems
After recalling close to 12 million vehicles due to accelerator pedal problems, Toyota’s engineers believe they’ve successfully corrected that problem. However, the rather unique $1.2 billion settlement deal that was reached back in March 2013 required Toyota to acknowledge its earlier deceit, noting that “it misled Americans by making deceptive statements about the safety problems that caused its vehicles to speed up uncontrollably -- a stark admission for a company that has built its brand on safety and reliability.”
Toyota’s Likely Future
Now that Toyota managed to sell over 7 million vehicles worldwide during the first half of 2013, (more than any other car maker), it’s highly likely that this company has learned some valuable lessons about corporate responsibility and dealing honestly with American consumers. As the company indicates on its website, safety is fully back in the forefront of its designs.
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