Toyota: Driving the Mainstream Market to Purchase Hybrid Electric Vehicles
In 1957 Toyota introduced its first vehicle to the American market, the Toyopet Crown. The small, fuel efficient vehicle had seen much success in Japan, but did not fare as well in the U.S. market. With relatively inexpensive gas available in the United States, the American consumer saw no need for a reliable, fuel efficient vehicle manufactured by a foreign auto company. In its first venture into the U.S. market Toyota learned some valuable lessons; auto manufacturers must align their vehicles with customer needs and a high quality product does not always succeed in the market.
Toyota found an opportunity to re-enter the U.S. marketplace during the fuel shortage of the 1970's. For the first time, American consumers were looking for fuel efficient vehicles and Toyota had the answer. In 1965 foreign auto groups held just 5% of the U.S. auto market. This share has steadily been increasing with......
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Approximate Word Count: 1826
Approximate Pages: 8 (260 words per double-spaced page) |