ding company, Toyota Motor North America. STRATEGIEStopSince taking over in 1995, chairman Hiroshi Okuda has cut costs while working to change the company's reliable-but-stodgy image. Toyota has begun targeting young consumers with such car models as the Echo compact, the MR2 Spyder roadster, and a restyled Celica coupe. A youth-marketing staff has been established, made up entirely of 24- to 35-year-olds.Having built its U.S. business largely through cars, though, Toyota is following Detroit's lead by expanding its truck production capacity. An $800-million truck plant expansion is the major piece of an effort to raise annual production in the U.S. by 200,000 vehicles, or 16%, to 1.45 million vehicles a year, according to the Detroit Free Press. This would help bring the company's proportion of car sales to truck sales to nearly 50%.By the end of 2000, Toyota belives that customers will be able to purchase its vehicles over the Internet, at www.toyota.com. And, this February, Lexus began offering an American Express Platinum Card to buyers of its Platinum Series vehicles.ADVERTISINGtopAccording to the Publishers Information Bureau, Toyota increased its spending in magazines in 1999 to $183.1 million, up from $171.1 million in 1998.Toyota Motor Corp.'s U.S. Advertising Spending, by Division, 1999 vs. 1998(Dollars in Millions)19991998% ChangeToyota cars and trucks$569.4$500.213.8%Lexus cars and trucks138.2151.3-8.7Source: Advertising AgeFINANCIALStopIn 1999, for the third year in a row, Toyota's Camry claimed the title of best-selling passenger car in the U.S., as customers bought more than 448,000 units during the year. Toyota reported best-ever year-end sales of 1,475,000 vehicles in 1999, up 8.4% over the previous record of 1,361,000 set in 1998.Among the company's highlights: The Celica experienced a sales increase of 282.7%. The Sienna minivan was up 21.4% The 4Runner sport-utility vehicle was up 4.8% ɨ...
