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Business
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| Number of pages / Number of words: |
13 / 3510 |
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The first engine was produced in 1934 followed by the first car and truck in 1935. Toyota's first few vehicles contained extremely high numbers of imported parts, but was able to compete with its stiff and established competition from Ford and General Motors, who had set-up their own manufacturing units in Japan, by undercutting their prices...
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The Japanese government soon backed Toyota's production because of the potential profits and its involvement with the war. The government placed restrictions on the operations of Ford and GM in Japan and created tax reliefs and exemptions from duties of imported parts to help Toyota push ahead of their competition...
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