It is commonly known worldwide that the leading manufacturer and provider of cars is Japan. This country holds many different names of multinational companies that are leading the automotive industry throughout the world. There might have been recent setbacks to the market with a huge number of scandals and different defects in the quality and car products released. However, the companies are working hard in trying to turn the tables on the first quarter of their fiscal year and start finding more and better deals.
Toyota is one of the most popular car provider in the world. It is based in Japan and definitely owns a large percentage of the market. The company has recently approached a deal that might change their stance in the market. Now with the issues occurring between China and the United States on the automotive industries and the introduction of tariffs, the company has decided to help the corporate in China to surpass their US presence.
This was according to a statement released by the executive vice president of Toyota’s China operation called Dong Changzheng. He commented on the business stance saying, “This is what we are working hard on. I see the benchmark as North America. Products in the North American market were mainly developed by North America. So r&d has been heavily localized. In the future, we will further learn from North America,” Dong said. “It takes time to develop best practices.”