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In 2003, Toyota sold 6.78 million vehicles and replaced Ford as the world’s second largest car manufacturer—a stronghold the American company had held for seven decades. Toyota’s capitalization was US$110 billion (more than twice its nearest competitor), worldwide profits of US$12 billion, and 264,000 employees. In the past year, its market share in the U.S. increased from10.1 to 11.2 percent.
For a company that now creates new models with famous efficiency, it has come a long way from it original entry into the U.S. market. In 1957, Toyota exported the Toyopet Crown, and its sales were disastrous. The car was underpowered, and the initiative displayed the company’s complete naivety about the market.
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|Business Case Study No||UA-2004-006|
|Number of Pages||24|
|Category||Historical narrative; Teaching case|
|Company||Toyota Motor Corporation (TMC); Nokia Oyj; Sony Corporation|
|Setting - Country||International|
|Source||Auckland, NZ. Publisher: University of Auckland Business Case Centre. Pages: 1 - 25|