TOYOTA CEO NOT IMPRESSED BY RESULTS

Toyota CEO Akio Toyoda is not happy with the way his company is going. While the former biggest automaker in the world sold 3.1% more cars in the financial year-ended 31 March 2017, operating profit took a nosedive by a massive 20% to ¥438.9 billion (about R51 billion) from revenues of ¥7.44 trillion. While these look good from outside, hard-to-please Toyoda is not impressed.

 

“I feel a strong sense of crisis about whether or not we are actually executing car-making from the perspective of the customer in all Toyota workplaces, from development, production, procurement and sales, all the way to administrative divisions,” Toyoda was quoted. ““In the case of sports, booking two consecutive years of losses would mean you are failing. I hate to be beaten.”

 

Sales were 2.46 million units during the first three months of the year from the company’s main brands, namely Toyota, Daihatsu, Lexus and Hino. Again that is impressive, until you realise the Volkswagen Group delivered 2.51 million vehicles over the same period, setting it up nicely to retain its crown as the biggest automaker in the world for the second calendar year in a row.

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