Chasing the Rabbit: Official Blog by Author Steven Spear

 With North American sales off by 50% from ‘07 to ‘08 with no sign of improvement in ‘09, Toyota announced severe production slowdowns.  For those using this as an excuse to poke holes in Toyota’s reputation for unblemished competitive success, consider the following image.

In rough seas, all ships get battered by the wind and waves.  The captains of the seaworthy ones batten down the hatches, trim the sails, and reduce rations so everyone can come through safe and sound.  On the unsound ones, they throw the weak and injured overboard or call the Coast Guard for a rescue or both. 

Toyota’s measures are prudent ones to weather the storm, sharing the pain but trying not to sacrifice anyone.  In contrast, its competitors have fired tens of thousands and have still come cap in hand to taxpayers for a bail out.