Here’s how Toyota plans to break the ‘curse of 10 million’ https://t.co/0KcyjYQp0E pic.twitter.com/5RhuB8yM0q
— Fortune (@FortuneMagazine) March 1, 2016
In the business world, companies are always looking for growth. What is the fastest-growing company? What is the largest corporation?
In the automotive world, however, bigger is not always better.
In the industry, there is a dreaded "curse of 10 million." When GM and Volkswagen hit 10 million sales in 2013 and 2014 respectively, it wasn't long before both were shaken by scandals and large settlements.
Toyota has enjoyed more sales worldwide than any other automaker for the past four years running. The company surpassed the 10 million sales mark in 2014, maintained it in 2015, and forecasts sales over 10 million again in 2016.
How does Toyota plan to beat the curse?
For starters, the brand has been proactive about recalls. Two days ago (March 2, 2016), Toyota expanded its Takata airbag recall to include the 2008 Corolla, Corolla Matrix, and 2008-2010 Lexus SC 430.
Toyota has also been restructuring internally, appointing younger heads to important units.
At Lithia Toyota of Redding, we can only see a bright future for Toyota, as they continue to top lists for reliability and resale value. Whether you're buying a Toyota Certified Used vehicle, or a brand new Toyota, we know you'll love what you get.
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