…things need to change, or Toyota, the world’s largest car company by sales, “will not survive.”
…If Toyota feels like it’s losing ground, then the ground is probably moving.
The problem isn’t just one thing, either. It’s everything, everywhere, all at once. Chinese automakers are gaining ground quickly and setting a new standard for manufacturing costs. Software is becoming a core part of cutting-edge vehicle. Tariffs are still a thing. The auto industry has seen more upheaval in the last few years than it did over the last several decades…
Toyota has always had extremely strict quality standards…But that could soon change.
The brand is implementing something that it calls “Smart Standard Activity.” This is meant to slash…quality standards…Toyota believes it will lower the price of its components…
All the manufacturers were sure Chinese cars would be incredibly unsafe and terrible quality, and then the Chinese cars actually turned up, and they were well made and got 5 star safety ratings.
And American and European manufacturers have been in a blind panic screaming for government protection ever since.
That’s because they’re on the fifth or sixth generation of EVs. They’ve worked out the kinks. They’ve figured out what’s necessary to get good safety ratings in world markets, and how to make it all relatively cheaply.
Meanwhile the rest of the world are on about their 2nd or 3rd generation, and it shows.