Brand promise is what makes Toyota one of the most successful automakers worldwide.
When consumers are in the market for a vehicle, in most scenarios they are generally looking for a car that yields the greatest “value” to them. Whether that means any combination of safety, fuel economy, aesthetics, and reliability is entirely subjective. World recognized car manufacturer Toyota (NYSE: TM) is known to excel at all of these areas, a driving force behind their remarkable sales numbers.
So what does Toyota do that every other automaker doesn’t? Simple. They deliver on their promises. Other companies like Hyundai have been sued for allegedly stating false fuel economy ratings. Another key component to their success is that Toyota knows what the consumers are looking for. Safety is a priority for any family vehicle, and the company has 12 vehicles that have been designated as “Top Safety Picks” by the IIHS1. With gas prices skyrocketing over the past 5 years, Toyota launched the market-dominating Prius, which is advertised to reach 53 miles per gallon2. Other models such as the Toyota Corolla, which is the best selling car of all time3 , boast up to 34 miles per gallon higway4. Looking throughout the Toyota lineup, each of the vehicles is impressively consistent in catering to consumer needs.
Toyota’s aren’t the flashiest vehicles on the road. They don’t come with the luxuries of a Mercedes-Benz or a pricing like the Tata Nano, either. Instead, they are superb at the important areas which consumers today value the most, which is primary reason for the company’s brand recognition and worldwide success.
References
1http://www.toyota.com/safety/
4http://www.fueleconomy.gov/feg/bymodel/2012_Toyota_Corolla.shtml