The automobile industry is one of the largest industries in the world. It is often said that the automobile industry is the “industry of industries”. Over the past decade, several types of research and studies have been conducted on the industry in order to know it more closely. Toyota, one of the largest automobile manufacturers in the world has been an important subject of research over the past decade. A number of researches have been conducted to find out the reasons behind the success of Toyota. However, this time research will be conducted on the failure of Toyota. . It is crucial to prepare a proper research proposal before conducting the actual research. .
Toyota, founded in 1937 is the largest automobile manufacturer in the world in terms of a number of sales. It is a Japan-based company that employs almost 3, 20, 808 people throughout the world. The company has its presence in almost all the major markets in the world. In the last financial year, the total amount of sales of Toyota cars is found to be 20,529.5 billion yen. The total number of Toyota cars that were sold in this financial year was 7,567,000. 397.05 billion yen, is the total capital of the company (Toyota, n.d.). The recent global financial meltdown has badly affected the company’s performance. Its sales figure has significantly gone down because of this meltdown.
Recently Toyota has recalled more than 5 million cars because of defective accelerator pedals, floor mats, and brakes. According to ‘The Independent’, 5.3 million Toyota cars are recalled in North America. These cars have defective floor mats. Gas pedals in these cars have been jammed because of these defective floor mats. Moreover, 2.3 million cars are recalled because of having sticking gas pedals, but these are not related to floor mats. This is the biggest recall in the history of Toyota. According to the company, the problem arises when the accelerator pedal cannot be controlled because of having an incompatible and unsecured floor mat. This actually makes the cars difficult to control as well as to stop.