…things need to change, or Toyota, the world’s largest car company by sales, “will not survive.”
…If Toyota feels like it’s losing ground, then the ground is probably moving.
The problem isn’t just one thing, either. It’s everything, everywhere, all at once. Chinese automakers are gaining ground quickly and setting a new standard for manufacturing costs. Software is becoming a core part of cutting-edge vehicle. Tariffs are still a thing. The auto industry has seen more upheaval in the last few years than it did over the last several decades…
Toyota has always had extremely strict quality standards…But that could soon change.
The brand is implementing something that it calls “Smart Standard Activity.” This is meant to slash…quality standards…Toyota believes it will lower the price of its components…
Or like Blockbuster refusing to adapt, and also not buying Netflix for cheap twice when they had the chance. Or Kodak literally creating the digital camera…
Kodak was at least TRYING to be ahead of the curve. They saw the writing on the wall before either Blockbuster or Sears did.
It is hard for a business to realize that their core product is going the way of the buggy whip or ice delivery companies, but I do think it can be done.
Tobacco figured it out…
For better or worse…
(Definitely worse)