For most of its history of Toyota Motor maintain a more traditional approach based on business are hoarding cash and slow expansion, but in the last ten years a huge change. From a market share of income and the producer of mass-driven, who wore a stylish car, with average earnings, without fear of a war chest of U.S. $ 30000000000 GM access and all other corners. From about 2003, according to Toyota Motor pour his philosophy on a low income, but in the passionate pursuit of steady earnings. Consider that the operating profit margin increased by only 2% in 1993 to 8% in 2003 (then back to 0.8% in 2009). This rate of income closely mirrors the fate of the Lexus brand in the U.S.
The tectonic shift towards vehicles with higher profit margin decline in Toyota Motor, in large part to a meeting of top-secret meeting at the headquarters of the company in August 1983. In this session, top secret, discussed high-ranking Toyota Motor car project is so sensitive, the code name was (hereinafter referred to internally as the F1 program. - No relation to the Formula One circuit) with a letter F , or effusive-maru including the name of the war was a reference to its status as good or bad, as (F) of the company logo, No 1 vehicle Chairman Eiji Toyoda posed a question to the August meeting of managers, designers, engineers and strategic thinkers - Toyota Motor of the Joint Chiefs of Staff. "We are able to produce a luxury car for the most appropriate?" He asked. For a man, the general assembly of Toyota Motor vast empire in unison: "Yes -" A "yes" and more full of conviction: Toyota will have to face this challenge. "As the official history says Toyota.
In fact sold out, but not on it from the beginning. Shoichiro Toyoda, the company founder's son and successor as president and chairman Eiji, had some initial doubts. I wanted to with what Toyota Motor has done everything Stick - cheap cars for the common man to build. Shoichiro had, but like most people, the initial concerns may then changed his mind. "The question for me was that with all the success of Toyota in America over the past 30 years, why spend billions of dollars and spend thousands of man hours of research and creative projects submitted Start a new line of stylish vehicles? Maybe you've heard I do not like driving in a limousine built by someone else, "jokingly, a meeting of U.S. dealers said shortly after the debut of the first Lexus. "From here, you no longer need to travel in vehicles made by Lincoln or Cadillac and Mercedes-Benz." Eiji Toyoda controversial decision to transfer the ultimate in luxury, the jackpot.
Not only is it more profitable Lexus division of Toyota Motor, which analysts estimate the automotive industry accounts for up to one quarter of annual earnings in the company, is one of the assets of Japanese exports more profitable. As Fortune wrote with great foresight 20 years ago: "The Inside Story, has emerged as a Lexus full of lessons for those seeking to develop high quality products."
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