emissions laws in California require that cars meet new stringent guidelines over the next several years, and Toyota has the ability to use its technology to produce cars that meet emission and gas mileage requirements and thus gain additional market share.
The company can also expect sales increases from changes in product design and new product introductions. The Lexus division has proven a strong participant in the luxury car market, and the company recently redesigned its sports car, the Supra, to use styling reminiscent of the Porsche (Johnson, March 29, 1993, p. 18).
The company also has the opportunity to enter the sports utility vehicle market, a market which Toyota has avoided to this point. The RAV-Four is a small sport utility vehicle that will be available in Japan in 1994, and which may be exported at some point in the future. The company has also entered into a joint venture with Volkswagenwerk in Germany to produce a pickup truck for the European market (vehicles manufactured in Europe
...