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AutoBlog: REPORT: Toyoda wonders aloud if Toyota has faltered by following GM's lead

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Filed under: Toyota

87893042-250op.jpgDuring the reign of company President Katsuaki Watanabe, Toyota became the number one automaker in the world, along with amassing $52 billion in cash and marketable securities. That sounds like one of the most amazing runs in the history of the automotive industry, but it's more than a little disappointing to company scion Shoichiro Toyoda.

The 84 year-old Toyoda is apparently the mild-mannered type, but Bloomberg is reporting that he read the riot act to Watanabe and his fellow execs. The news agency's sources say that Toyoda railed Watanabe for being "so anxious to boost sales and profits that he'd let Toyota emulate bankrupt General Motors." Toyoda also reportedly chastised execs for becoming too dependent on large and expensive cars, trucks and SUVs, saying, "customers need to save money."

Toyota may have made $17.7 billion in 2007, but the $4.5 billion it lost in 2008 and the $5.7 billion it expects to shed in 2009 shows that Toyoda may be on to something. If the company is to turn around in the next few years, though, it'll have to come at the hand of another Toyoda. Shoichiro's son Akio takes over as president on Tuesday.

[source: Bloomberg | Image Source: AFP/Getty]

REPORT: Toyoda wonders aloud if Toyota has faltered by following GM's lead originally appeared on Autoblog on Mon, 22 Jun 2009 11:28:00 EST. Please see our terms for use of feeds.

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If GM had a larger competitor to learn what not to do when it was coming up, imagine all the mistakes it could have avoided in those 15 years starting in the 80's.

Toyoda can see that it does not matter how good you are going because with only a few mistakes you can be nothing in a very short time and he has a great example in GM to serve as a reminder.

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Dang, they missed the real problem with the company in recent history - focusing on volume at the expense of quality.

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Dang, they missed the real problem with the company in recent history - focusing on volume at the expense of quality.

Fortunatly for them most of their supporters blame their quality problems on American workers and suppliers rather than the company itself.

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Fortunatly for them most of their supporters blame their quality problems on American workers and suppliers rather than the company itself.

Very true, they have totally missed that it is more than America to be blamed, look back at themselves.

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Dang, they missed the real problem with the company in recent history - focusing on volume at the expense of quality.

I believe that's included when he says this, "so anxious to boost sales and profits that he'd let Toyota emulate bankrupt General Motors."

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