Toyota vs GM
Toyota announced last Tuesday that they plan to build at least two more auto plants in North America. Toyota expanded U.S. sales by 10 percent in 2004, by selling over 2 million vehicles here for the first time, and giving it a 12.2 percent share of the world’s richest car market. Toyota is not only meeting their sales projection they are beating them. With this kind of growth, Toyotas market share is sure to compete with the world's largest auto maker GM. GM has had slipping auto sales in recent years, and with no "ace up their sleeves" on the horizon will probably soon fall victim to Toyotas marching advance on the U.S. market. Toyota already has five finshing plants in North America, with a sixth currently under construction in Texas. The site of its seventh factory has yet to be unvailed, and the site of the eight will follow soon after. Toyota wants to be the biggest, and soon they will be if everything goes as planned. This obviously creates plenty of new jobs for the people located near these large manufacturing plants, but the economic benefits are so much bigger than that. With more production capability Toyota can become even more competitive. Hopefully they will offer lower prices, and better customer service on its vehicles, and in the future you may see more Americans driving Toyotas. Economic growth could not be more clear than when it comes to Toyota, they are a strong production company and are stategically planning to become stronger. Watch out GM.
Posted by Spencer at 2/25/2005 02:13:00 PM