- Question 4 Toyota Receives The First Place Title For A Second Year Half Of The Companies In The Asc100 Top 10 Revenue R 1 (135.38 KiB) Viewed 11 times
Question 4 Toyota receives the first-place title for a second year Half of the companies, in the ASC100 top 10 revenue ranking, were automakers, with Toyota Motor reigning on the list again with a revenue of around US$282 billion. Though COVID-19 and the chip shortage worldwide forced it to cut production, Toyota saw a 13.8% year-over-year (YoY) revenue growth in 2021. Like most of its counterparts, the carmaker benefited from the firm demand in the US, China and Japan. Toyota's global consolidated vehicle unit sales increased 7.6% in FY2022 (April 2021 to March 2022), according to the company's financial summary. Sales revenues in Asia grew the most at 29.4% in Japanese Yen, thanks to production volume and unit sales increase. Exchange rate changes also played a role. The ongoing spread of COVID-19 and government responses have kept the Japan-based automaker curbing production in selected plants. In addition, geopolitical tensions may cause more ramifications to the supply chain. Therefore, Toyota projected its FY2023 sales revenue growth would scale back at 5.2% (in JPY). Source:(Peng Chen, 2022). Retrieved https://www.digitimes.com/news/a2022052 ... op-10.html on May 31, 2022 from a) Explain TWO (2) ways for Toyota firms can increase their sales revenue in 2023. (5 Marks) b) Explain TWO (2) implications for Toyota pursuing through Horizontal Direct Investment under Foreign Direct Investment in one country. (5 Marks)