Toyota Chairman Akio Toyoda shares challenges, fears about carmaker
At the recently concluded Japan Mobility Show, Toyota's Chairman Akio Toyoda openly shared the obstacles he encountered while attempting to shift the carmaker's product development strategy. He also asserted that he is apprehensive about the company reverting to its old ways if left unchecked. Toyoda, who moved from being Toyota's CEO to chairman in January, revealed his anxiety that it might become a mundane carmaker once more, asserting, "When that fear spreads to many people, it will be too late."
Transforming Toyota's image and product line was key
Toyoda's quest to revolutionize Toyota started 14 years ago when he became Toyota's president and CEO. Around the same time, Toyota-owned Lexus introduced the GS—which was criticized for being dull. European car manufacturers testing new vehicles at the Nurburgring also questioned Toyota's abilities. Resolute to evolve and create thrilling cars, Toyoda worked closely with executives and engineers, making them more open to his concerns. He also began personally testing new vehicles, offering direct input to the research and development team.
New fears amid company's impressive growth
Under Toyoda's guidance, Toyota has transformed into a distinct brand, featuring exhilarating products such as the Supra, Yaris GR, and the latest Crown lineup. Nevertheless, this transformation brings fresh concerns for the chairman. He fears that circumstances could return to how they were before, stressing it took him 14 years to change Toyota as its president but that "things could revert in a flash."
