Analysis of Toyota's Operations to Maintain its Brand Position During the COVID-19 Pandemic

Abstract

Toyota is a major multinational corporation dedicated to the manufacture of automobiles and transportation equipment, with sales ranked among the world's top and named a Number 1 Motor Vehicle Company on Fortune Magazine's 2020 "World's Most Admired" list 2020. The main purpose of this article is to analyze how the strategies implemented by Toyota during the COVID-19 pandemic period (late 2019-2022 in this article) have helped it regain its business viability as soon as possible and to assess the feasibility of these strategies for other automobile manufacturing companies through three aspects: actual cases, financial analysis, and SWOT analysis. According to the author's research, most business analysis articles only start from a company itself or give an appropriate opinion of this company, but this article wants to give an opinion to other car companies by analyzing Toyota's strategy to give an opportunity to the current trend of economic globalization.