The bottom line from Bloomberg.com: [font=Courier New:d2d0c4b7db]Toyota Net Income Up 29 Percent The company earned twice as much as General Motors Corp., even though the Detroit-based automaker sold 31 percent more vehicles. Standard & Poor's gives Toyota its best rating, AAA -- three rungs higher than the Japanese government -- partly because of its 3.3 trillion-yen reserve of cash and marketable securities. Toyota shares had risen 7.9 percent this year as of Oct. 20, to 4,080 yen from 3,630 yen. General Motors' shares had fallen 29.1 percent over the same period, and Ford Motor Co. shares had fallen 19.4 percent. At $136.1 billion, Toyota's market value exceeds the values of Renault SA, Volkswagen AG, DaimlerChrysler, Ford and General Motors combined. Fumiko Roberts, who manages $1.8 billion at Schroder Investment Management Ltd. in London, expects the shares to rise to 5,000 yen in two years, as annual net income increases by 15 percent to 1.33 trillion yen. [/font:d2d0c4b7db] Full Article Here
" Detroit automakers point to styling as a weakness for Toyota. ``Can you name one product they sell that's a gotta-have product?`` asks Jim Padilla, chief operating officer at Ford." Uh, does a wait list of over 20,000 count? Duh!! Drive fun, drive clean, drive Prius.
Exactly -- that sorta defines a "gotta-have product". Not to mention: what does Ford have that's "gotta-have"? [sarcasm]Why, the Ford Focus of course![/sarcasm]
Gotta have????? I just don't get it. I mean, I do but I don't. I know that the American Marketing Machine takes great strides to make sure the American population wants bigger, faster, more stylish, easier financed, quickest returns, fewest pains. But "gotta have"? It's not a HAVE; it's just an elevated WANT. Last I checked, automobiles ranked below food, water, shelter, companionship, and lowered emissions. Every time I watch baseball, I think to myself that it's possible to win a game by hitting only bloopers into shallow outfield. Meanwhile, batters strike out trying for those few cherished home runs. Toyota doesn't hit many blatant home runs, but their strategy of constantly building dependable, affordable automobiles is a winning strategy. And then top it off by making small but constant improvements on proven technology. So if the consumer is looking for dependability, affordability, responsibility, and security, Toyota is the "gotta have" car. In America, we speak with our wallets. Apparently, not many people are talking to American manufacturers this year.
Re: Toyota, #1 in Profit and Quality, Seeks Global Sales Cro Dr. Edwards Deming was right, quality is profitable and free! Mr. Taguchi (sp) of Toyota has simply applied what he learned and taken the process, now known as "The Toyota Process", to a different level. Please note that this applies equally to products made in Japan AND the United States. ie, Corolla quality vs Focus quality. The problem is not the "American auto worker" who has proven quality build ability in lets see, Marysville, Covington, Spartanburg, etc. The issue of performance is with management's short term focus and decision making. So, come on Mr. Ford and Mr. Lutz, join the crowd of profitable and growing car companies, you can do it and your employees can help lead. All you have to do is ask for their support and ideas.
