Akio Toyoda Takes Over Toyota and Predicts Tough Times

Akio Toyoda, the grandson of Toyota founder Kiichiro Toyoda, has taken over as the president of Toyota Motor Corporation. But he does not seem to be in a celebratory mood, warning at his first news conference that “the new Toyota sets sail in very stormy waters” and predicting another two years of difficult times for the automobile industry.

Akio Toyoda seems to take the same stance as his dad, Shoichiro Toyoda, indicating that Toyota will be steered “back to basics.” There will however be no plant closures, instead Toyota is currently “working at full speed to cut costs and jump-start sales with the support of various government incentives being rolled out... to do everything possible to avoid a third consecutive year of losses.” And to lead by example, as any good leader ought to, Akio Toyoda will take a 30 percent pay cut for this year.

AboutSeow Yaohan

Seow Yao Han strives to bring you the latest and the most comprehensive information on cars available in Malaysia. But it's never easy for him to talk and write cars in this part of the world because what you lust after is often not what you drive home. When the euphoria of test-driving that branded, super-expensive sports car dies down, he just goes home in his less-than-glamorous ride.