Wantanabe's arrogance and willingness to forgo quality to reach the #1 carmaker has finally caught up with him. Quote: Watanabe had overseen Toyota's stupendous expansion, riding on the success of its fuel-efficient models. Toyota's global vehicle sales have grown for nine years straight - a string that will almost certainly end this year. Watanabe has now promised to halt expansion plans, cut thousands of jobs in Japan, slash costs and postpone the start of a Mississippi plant, while focusing on green technology and developing small cars and hybrids to prepare for the next growth opportunity. "Things are so horrible I don't see what a personnel change would achieve," said Tsuyoshi Mochimaru http://biz.yahoo.com/ap/081225/as_ja...yota.html?.v=2 Focusing on green technology and developing small cars and hybrids should work well for Toyota with today's $1.40/gallon gas.

Gas will not be this low for long. $4 a gallon will return

Sure, in 6-months or 6-years? Keep in mind that I posted a few months back about the price going below $3.50. I would've never thought it would get as low as it is now.

However, wrt Toyota, it is interesting to see that they are no better than Detroit in predicting future gas prices or guessing the buying public's reaction. In Detroit we focus on stupid things like: "flying corporate jets" and executive bonuses that were set by the respective board of directors in years past. Watanabe was adamant that he wanted the #1 Worldwide Sales title and wanted to "crush" Detroit. The end result was $1.3B to build a full size truck plant in San Antonio that now sits idle and rushing the latest Avalon and Camry to market, which resulted in un-Toyota like quality. Luckily he didn't have a chance to screw up the Prius, although Toyota's current financial loss has halted the start of the Mississippi plant set to build Prius.

Fortunately, Toyota's Chairman, Fujio Cho, is quoted saying: