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In Chinese Market, Toyota's Strategy Is Made in U.S.A.
Keywords:
Tags: Automobiles, China, Japan,
How Northwestern University Kellogg School's Inaba Yoshimi is trying to turnaround Toyota's performance in China. Toyota is a latecomer in the China market and cultural hurdles hamper Japanese managers in China. Because Toyota dealerships in Japan use a salesforce that gets income from salary and does not depend on commissions, selling only Toyota cars, the Japanese experience seemed irrelevant to China. The experience of Toyota in China is more like the experience in the U.S. market with a sales force earning income from commissions and dealers selling many brands. In other respects China's market is different from the U.S. The Chinese market is growing very fast, and millions of cusomers are joining the carowning population, all first time buyers in an internet information intensive environment with savy informed customers. Keeping the salesforce motivated and interested in selling Toyota cars is a challenge in China. Also how to allocate cars to dealers based on how many cars move off their lots, and how to buildup a large network of Toyota dealerships and widen the range of product available in China. Management challenges have been tackled by bringing experienced veteran managers from the U.S. to China, who are culture neutral and are seen positively by the Chinese managers and staff. General Motors has a big headstart in China and is marketing to the younger demographic in China. Median age of Chinese buyers is 35 years age. See the related article on Chinese buyers and what drives their buying habits in article by Bremner in Business Week, May 17, 2006.
Battling it out in the Chinese Market- GM, Toyota, VW and others
05/17/2006
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Yoshimi Inaba, is put in charge of the American operations by Akio Toyoda. Like Akio Yoshimi has overseas experience and an American MBA.
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Akio Toyoda becomes CEO of Toyota in 2009, with the support of Shoichiro Toyoda, his father. He spent some years in the American operations, has overseas experience, and got his MBA from Babson College in Massachusetts. Because of tis he brings an outward looking approach to Toyota. By August 2009 about 40% of the senior management hat Toyota had retired or moved to new positions. Toyota suffered a loss of $819 million in the 2nd quarter 2009 with net sales revenue down sharply by 38% over prior year's same quarter. In the last years of the previous CEO Watanabe, Shoichiro had expressed concerns about the complacency at the company. See the links to this including Shoichiro's concern for higher costs, lower quality, and complacency in management.
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