TOYOTA, HOPING to rebound from its worst slump, plans to create more “passion” for a brand known for reliability with a new sports car and models appealing to young drivers.
Company president Akio Toyoda says Toyota is developing an “affordable” sports car, which will be produced within two years in conjunction Subaru. Toyoda said he wants vehicles that reflect his enthusiasm for motor sports. Many of Toyota’s current models “could be more passionate and they could have better styling”, he said.
Since taking the helm in June, Toyoda has signaled a far-reaching shake-up at the company founded by his grandfather.
Jim Lentz, head of Toyota’s US sales arm, said the company’s cars had been guided too much by Japanese consumers, who are less passionate about the pleasures of driving than Americans and Europeans.
The designs of Toyota’s current line-up “could be more passionate and could have better styling”, Lentz said. “We need to dial it up a notch or two for the next generation of buyers.”
He added that a combination of strong demand for oil, global warming and other environmental issues has put the motor industry at a crossroads.
“We are back where we began 100 years ago, at a point where we must reinvent the automobile. We’d better listen and learn the customer’s habits. In the process we will discover a need so big that it calls for a true breakthrough idea.
“Something bigger than just worrying about how many cupholders our competitor has in their new model.”
– Bloomberg/FT