Recall Crisis in the Toyota Company 1

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Recall Crisis in the Toyota Company 1

Recall Crisis in the Toyota Company 1

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Toyota is a motor vehicle manufacturing company with its headquarters in Japan. It is generally abbreviated as TMC and is a multinational corporation which has employed more than 71,116 employees in the whole world.  This is the largest automobile manufacturer as it has the largest number of sales in the whole world.  TMC was established in 1937 by Kiichiro Toyoda. It was founded as a spinoff from his father’s company.  Importantly, Toyota Company is the latest automobile company to face financial crisis. In the year 2009, this company reported an annual net loss of approximately US$4.2 billion. In the same year, the Toyota Company was reported to have recalled more than eight million cars and trucks in the whole world ((Aidoo 76).