Akio Toyoda Is Automaker's Only Hope, Former U.S. Boss Press Says
Saying Toyota Motor Corp. had become dominated by “anti-family, financially oriented pirates,” the company's former North American chief says only CEO Akio Toyoda can rescue the automaker, Automotive News reported. “Toyota doesn't want me to speak out, but I can't stand it anymore and somebody has to tell it like it is,” wrote Jim Press, who left Toyota in 2007 as its highest-ranking American executive. “Akio Toyoda is not only up for the job, but he is the only person who can save Toyota,” Press wrote in an e-mail to Automotive News. “He is very capable, and he embodies the virtues and character that built this great company.” Toyoda -- grandson of Toyota founder Kiichiro Toyoda -- became CEO in June and is testifying before lawmakers today. He said the company's traditional priorities -- first safety, second quality, third volume -- have become “confused.” Press spent 36 years at the automaker as it grew to pass Ford Motor Co. as No. 2 in U.S. sales and later topped General Motors as the global leader. He was the first non-Japanese to serve on the 30-member Toyota Motor Corp. board in Japan. In September 2007, he became president and vice chairman at Chrysler LLC. He left Chrysler late last year after the U.S. automaker emerged from bankruptcy under the control of Fiat S.p.A. “The root cause of their problems is that the company was hijacked, some years ago, by anti-family, financially oriented pirates,” Press said, referring to the company's move away from Toyoda family leadership over the past decade. “They didn't have the character necessary to maintain a customer first focus. Akio does.”
More Industry

Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →
Exposure Drives Interest in Chinese Cars
At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Agent Advocate
Rob Mancuso, who comes from a long line of auto dealers, values general agents’ place in the industry and makes a case for them taking an even bigger seat at the table.
Read More →
Driving Under Distraction
Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.
Read More →
Affordable New Cars a Thing of the Past
More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
Read More →
State Follows Federal Warning on Auto Ads
The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.
Read More →
Consumer Outlook on the Rise
Younger generations are feeling more positive about their financial futures and current affordability pressures than older generations, according to recent TransUnion data.
Read More →
Pennsylvania Dealership Under New Retailers
The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
Read More →