Toyota Motors and Mitsubishi Motors during world finance crisis 2007-2009.
Toyota Motor Corporation is a corporation, which was founded by Kiichiro Toyoda in 1933, when it was a division of Toyoda Automatic Loom Works. In 1937 it was established as independent company. Now Toyota is the multinational corporation and the biggest automaker in the world, it operates such companies as Lexus and Scion, as well it is a major shareholder of Daihatsu and Hino Motors and minor shareholder of Fuji Heavy Industries, Isuzu Motors and Yamaha Motors. (1).
The Mitsubishi Company was first established as a ship making company by Yataro Iwasaki in 1870. In 1980 Mitsubishi Company was diversified into three entities which were Mitsubishi bank, Mitsubishi Corporation and Mitsubishi Heavy Industries, they are still exist. As a part of Mitsubishi Heavy Industries is Mitsubishi Motors Corporation which was founded in 1970, the first president of it was Tomio Kubo. In 1971 significant part of it was sold to the Chrysler Corporation. While Chrysler was controlling it, they make a lot of manufacturing and technological deals with Hyundai Motors and Volvo. In 2001 Mitsubishi took over their company sole ownership again. (2)
Those two Japanese car manufacturing companies are well known all over the world and have high position in car selling ranking in Japan and all over the world. In this project I will compare this two companies: their achievements and losses during the world finance crisis 2007-2009, which already brought down many car manufacturing companies and keep doing it.
I would like to start with the article from “Infinity” website about previous experience of Toyota Motors during crisis situation:“It was during the 1973 oil crisis when Toyota expanded to the US and began its journey to become the largest Japanese based automotive companies in terms of sales, net worth and profits. How did they pull it off? At the time, US automobile companies manufactured...