Toyota invested $7 billion on R&D of ‘green’ cars shown on Frankfort model show.The entire line-up of 12 Toyota models is with hybrid engines. The increased customer awareness that technology of hybrid cars is getting better leads to huge opportunities of growth in hybrid engine vehicle industry. Therefore, the competition level in the industry is increasing. However, in my perspective, Toyota still needs efforts to raise its market share. For example, there should be a strong marketing department. The reputation of this business was negatively affected by the recall of cars due to quality control problems in the past few years, so the market group should improve its reputation. Also, it should convince consumers to purchase electric cars rather than fuel engine cars by eradicating consumer concerns about technology bugs of electric cars. Toyota believes that with the increasing consumption of electric cars, the infrastructure like sites of car-recharge will automatically developed because of consumer demand. I think Toyota can finance some recharging sites for energy businesses and provide a discount for owners of Toyota. Additionally, Toyota sets a competitive price so that the cars are affordable to most consumers. Consequently, Toyota is aiming to be the market leader of the huge potential market.

Resources: http://www.bbc.co.uk/news/business-24033705