No longer the underdog, Toyota is bracing for possible political and consumer backlash caused by its rapid growth, according an internal report obtained by the Detroit Free Press.
“With recent market-share gains and sales continuing to increase, we are becoming the de facto leader of the industry — that brings risks and responsibilities,” according to a presentation by Seiichi (Sean) Sudo, president of Toyota Engineering & Manufacturing in North America. “Our competitors are jealous of our success.”
Critics say Japan and other countries are manipulating their currencies to boost exports.
“A Democratic Congress, particularly those members with districts hit by Big 3 and supplier plant closings, may call for further oversight of the industry and Japanese companies in particular,” the presentation said.
Last week, two Democratic House members sent a letter to Treasury Secretary Henry Paulson urging him to press Japan over the value of the yen.
There are also concerns over Toyota’s contribution to the U.S. economy and American society. Toyota fears it will be blamed for lost American jobs and hardships at American automakers.
A scapegoat?
“Toyota will be a scapegoat,” one slide of the secret presentation says.
“Society expects that we will make the same economic and social contribution as the companies we replace,” the accompanying text says. “And we need to position ourselves to respond to corporate image attacks.”
