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Established in Japan in 1937, the Toyota Motor Corporation has gone on to become one of the biggest and richest car maker that keeps on making huge strides in its efforts to serve the society as well as create better products. It has about 52 overseas manufacturing companies in 27 regions.
Its plans to build a new plant in Guanajuato Mexico were poorly received by U.S. president-elect, Donald Trump who took to Twitter to show his displeasure at the news on January 5, 2017. Asserting that the car maker should either build a plant in the U.S. or pay high border tax if they build a plant in Mexico to produce Corolla cars for the U.S., Mr. Trump misidentified the plant’s proposed location as Baja, Mexico and caused Toyota’s stock to take a .4% dive.
This has added Toyota to the list of automakers who have felt the brunt of his displeasure. However, Toyota has in recent times expanded its base of operations in the U.S. employing more than 4000 people. It plans to continue investing in both the U.S. and Mexico to increase productivity in the areas.
Toyota also unveiled a new version of its small commercial bus, the coaster. Its Commercial Vehicle (CV) company has since its inception be responsible for a third of the Toyota’s cars sold every. While new coasters are often more expensive, they also bring in revenue in terms of leasing, special equipment and maintenance among other sources of revenue. This is because the commercial chains that buy them want a good return on their investment.
While previous small car models such as the Toyota Etios and Liva Compact has not brought substantial profits to the corporation, it has unveiled new 2016/2017 models to boost sales. These models include Prius Prime, Prius c, Yaris iA, Toyota 86, Corolla iM, Prius v, Camry, Avalon Hybrid and Yaris among other electric, diesel and hybrid models. The company has also launched the Vitz Hybrid model, the Lexus LS Flagship Sedan and the C-HR which is the second vehicle made using the Toyota New Global Architecture (TNGA) platform.
Toyota also plans to avail its powertrain engine technology to rival automakers as a way of not only boosting sales but also, smoothing and speeding up the automotive industry’s switch to vehicles with lower emission. At the Consumer Electronics Show in Las Vegas, Toyota also revealed that it was developing a framework for making telematics systems and connected vehicles. In addition to its commitment to making quality, durable and reliable cars, Toyota also established the Toyota Research Institute in Silicon Valley 2016, to develop and continue researching into artificial intelligence.
