Toyot:a Origins, Evolution and Current Prospects

Toyota origin , evolution and current prospects

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Introduction

The growth of Toyota is one of the greatest success stories ever told in the Japanese industry (Hill Charles 2005 )Toyota has risen from an obscure Japanese automobile company to the giant it is today with its production intensifying from 100 ,000 vehicles per year in 1947 to an amazing 8 .5million by 2006

The origin of Toyota

Its founder , son of a carpenter and inventor , Toyoda Kiichiro 's original interest lay in the

textile industry but a visit to the United States in 1910 , Toyoda Sakichi became intrigued by automobiles . His principal success was the invention of an automatic loom that made it possible to manufacture high quality versus low cost cloth . He later sold the patent rights to a British textile company for a million yen Following advice from his father Sakichi , Kiichiro used the money to study the possibility of manufacturing automobiles in Japan . He later became the director of loom production at Toyoda automobile loom with a degree from the University of Tokyo in 1930

At the time , Japanese market was subjugated by ford and general motors which imported knock-down car kits from the US and assembled them in Japan . This made Kiichiro hesitant at first to invest in automobile production . The board of Toyoda automatic loom , including his brother in law , and the president Kodama Risaburo opposed the idea dismissing it as too hazardous . Had it not been for his father 's...