TOYOTA 2

Discussion in 'Magazine Article Writing' started by mehdijao, Oct 2, 2017.

  1. mehdijao

    mehdijao New Member

    In 2001, Toyota's Toyo Trust and Banking merged with two other banks to form UFJ Bank, which was accused of corruption by Japan's government for making bad loans to alleged Yakuza crime syndicates with executives accused of blocking Financial Service Agency inspections.The UFJ was listed among Fortune Magazine's largest money-losing corporations in the world, with Toyota's chairman serving as a director.At the time, the UFJ was one of the largest shareholders of Toyota. As a result of Japan's banking crisis, UFJ merged with the Bank of Tokyo-Mitsubishi to become the Mitsubishi UFJ Financial Group.

    In 2002, Toyota managed to enter a Formula One works team and establish joint ventures with French motoring companies Citroën and Peugeot a year after Toyota started producing cars in France.

    Toyota ranked eighth on Forbes 2000 list of the world's leading companies for the year 2005 but slid to 55 for 2011.The company was number one in global automobile sales for the first quarter of 2008.

    In 2007, Toyota released an update of its full-sized truck, the Tundra, produced in two American factories, one in Texas and one in Indiana. Motor Trend named the Tundra "Truck of the Year", and the 2007 Toyota Camry "Car of the Year" for 2007. It also began the construction of two new factories, one to build the RAV4 in Woodstock, Ontario, Canada, and the other to build the Toyota Prius in Blue Springs, Mississippi, USA. This plant was originally intended to build the Toyota Highlander, but Toyota decided to use the plant in Princeton, Indiana, USA, instead. The company has also found recent success with its smaller models—the Corolla and Yaris.

    In 2011, Toyota, along with large parts of the Japanese automotive industry, suffered from a series of natural disasters. The 2011 Tōhoku earthquake and tsunami led to a severe disruption of the supplier base and a drop in production and exports.Severe flooding during the 2011 monsoon season in Thailand affected Japanese automakers that had chosen Thailand as a production base. Toyota is estimated to have lost production of 150,000 units to the tsunami and production of 240,000 units to the floods.

    On February 10, 2014, it was announced that Toyota would cease manufacturing vehicles and engines in Australia by the end of 2017.The decision was based on the unfavourable Australian dollar making exports not viable, the high cost of local manufacture and the high amount of competition in a relatively small local market.The company plans to consolidate its corporate functions in Melbourne by the end of 2017. The head office will remain in Port Melbourne and the Altona plant will be retained for other functions. The workforce is expected to be reduced from 3,900 to 1,300.

    The automaker narrowly topped global sales for the first half of 2014, selling 5.1 million vehicles in the six months ending June 30, 2014, an increase of 3.8% on the same period the previous year. Volkswagen AG, which recorded sales of 5.07 million vehicles, was close behind.

    In August 2014, Toyota announced it would be cutting its spare-parts prices in China by up to 35%. The company admitted the move was in response to a probe foreshadowed earlier in the month by China's National Development and Reform Commission of Toyota's Lexus spare-parts policies, as part of an industry-wide investigation into what the Chinese regulator considers exorbitantly high prices being charged by automakers for spare parts and after-sales servicing.

    In November 2015, the company announced that it would invest US$1 billion over the next 5 years into artificial intelligence and robotics research.In 2016, Toyota invested in Uber.

    In March 2016, Toyota partnered with Yanmar to create a fibreglass pleasure boat using Yanmar outboard marine diesel engines or Toyota inboard engines.
     

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