Toyota Chairman Expresses Concern About Potential Return to Mediocrity

Toyota Chairman Expresses Concern About Potential Return to Mediocrity

Toyota Chairman Expresses Concern About Potential Return to Mediocrity

In January 2023, Toyota made significant changes to its leadership structure. Akio Toyoda stepped down from his role as CEO to take on the position of chairman, and now we’re getting insights into the challenges and apprehensions he faced during his tenure. At the Japan Mobility Show, Toyoda fielded questions from dealer representatives, journalists, and other guests, offering candid responses.

Toyoda revealed the difficulty he encountered in transforming the company’s approach to new product development, a process he initiated 14 years ago when Lexus unveiled the then-new GS. The prevailing feedback at the time was that the brand was lackluster. Additionally, during tests at the Nurburgring, European automakers reviewing Toyota’s projects remarked, “Toyota can’t do it.”

This was just one aspect of the bigger picture. With a firm belief that the company needed to evolve and create more captivating cars, Toyoda collaborated with the company’s executives and engineers, urging them to be more open to his concerns. At the same time, Toyoda personally tested most of the brand’s new vehicles, providing direct feedback to the R&D department.

Toyota has now undergone a profound transformation since Toyoda assumed the role of CEO, offering exciting products like the Supra, Yaris GR, and the new Crown range. However, this change has also sparked new apprehensions. The chairman is concerned that the company could regress to its former ways from 14 years ago.