Monday, 18 May 2009

Despite massive challenges - Toyota 'powers' on

Whilst most car manufacturers are seeking massive tax-payer subsidies just to stay in business, one motor company is continuing to innovate and launch next generation products ...

Toyota today announced the launch of the next generation Prius following the success of its predecessors (over 1m models have been sold already, with over 500,000 sold in America).  

Car manufacturing is suffering particularly badly in the crisis ... because, after housing, it's one of the highest discretionary cost consumer items people actually buy ...  hence even Toyota* is suffering ... but not only because of this ... it's suffering from the strong Yen too ... 

Will bail-outs / subsidies actually solve the problems hidden by traditional manufacturers in an era of mass production & outdated management practices ... or just delay an inevitable death (and replacement by lean production and 21st century leadership)?

Will bail-outs waste yet more precious tax payers money in the process too?

* It's important to note that Toyota does not apply Poweromics, but it's opposite,  Leanomics** ... which is founded on values such as trust, honor, responsibility and respect.

** Leanomics = People taking responsibility for adding value and continuously improving the situation for others (e.g. customers, communities, overall environment), based upon fundamental values such as trust, honor, responsibility and respect.