Toyota product line under review
Toyota's entire product line-up is to be reviewed to better focus its offerings to each global region, the firm's new president said today.
Akio Toyoda, grandson of the founder of the Toyota Motor Corporation said he will put customers and the rank-and-file first to steer the car-maker out of its worst crisis since it was founded.
At his first news conference as president, he said each of his executive vice presidents will oversee a global region - North America, Europe, Japan and emerging markets, to be more nimble and answer consumer needs.
He said Toyota will focus on some auto sectors while pulling out of others, depending on the region. He did not give details, though he said hybrid technology was an example of a Toyota strength.
Toyoda, who assumed the top post at the world's biggest car-maker after approval from shareholders on Tuesday, is Toyota's first president from the founding family in 14 years.