Toyota’s Environmental Bet is Paying Off
David Aaker
Vice Chairman at Prophet, Brand Strategist and Author of 18 books including "The Future of Purpose-Driven Branding"
Last year, I wrote a post analyzing why Toyota was the strongest environmental brand in Japan by a wide margin according to the BrandJapan survey of 1,000 brands. Despite the fact that the brand was a virtual no-show in electric cars, it still performed. One reason was its decision to attack CO2 emissions and more general environmental concerns with a broad social program featuring becoming the leader in hydrogen-powered cars and aggressive innovation to reduce CO2 emission in hybrids and even gas-powered cars. Toyota’s program, unlike its competitors, is based on the belief that hybrids and gas-powered cars are not going away fast.???
As an aside, I recall a Harvard Business Review article written in the 1960s that predicted the demise of check writing. Check writing actually grew for the next three decades and then plateaued and started an orderly decline. People are still writing checks 60 years later. It's important to note: press attention is not always predictive.
There is evidence that Toyota made the right call to have a broad-based environmental social program without EV being a dominant part. First, nearly all manufacturers are making major commitments to becoming an alternative to Tesla. It is a tough and congested road. Second, plug-in hybrids are now growing faster than the EV market according to a recent Atlantic article “The Hybrid-Car Dilemma.” Toyota’s innovation and range of offerings are facing weaker competition, and its innovations are making a difference. The latest Toyota Sienna minivan, for example, comes only in hybrid form and has nearly half the CO2 emission of its non-hybrid predecessor. Third, its lonesome commitment to hydrogen sets makes its leadership in that area more striking.
Project Manager at Madkour Group
8 个月@José Roberto Giro Toyota Egypt Group @Ahmed Monsef Toyota Egypt Group refused to release my reserved toyota corolla since feb. 2022 after paying 40% of the total sum .. nowaday one of the top managment personel wanted me to take back my money and cancel my resevation after two years without any compensation or consideration for my need for the car.Moustafa Megahed Paul Willis Mahmoud Gamil Mostafa Shohdy Hany ElKhadrawy Reham NabilOsama Saleh koji Sato David Tavor Akio Toyoda Toyota Motor Corporation yasser BedihiAl-Futtaim Automotive - ?????? ???????? Ahmed Gougou Iman Tolba
??? ?? ???? | Branding, marketing, and culture. I have failed enough to help build startups the "right way".
10 个月This is working for them due to the authenticity of the cause beyond selling cars. True - True: True to themselves and true to the world. Beyond selling cars. History has it, that only "true-true" brands have greater longevity and respect David Aaker Isn't it?
Marketing Consultant | ?? Wasteless Marketing | Sustainability Leader (CISL) | Podcast Host | Guest Lecturer
10 个月Excellent and market-oriented decision. Giving that EV's space is getting really crowded with only limited amount of customers around the world willing to/can buy it, while more competitors are tapping into the segment. In addition, I'd suspect that for most people, the job to be done here is not 'buying EV', but lowering their carbon footprint. Hybrids and gas-powered cars are definitely not going away fast with larger fuel network but also more affordability. So if a company can find a solution for people who can't afford or aren't convinced in EV to lower their footprint, that's going to create a significant amount of value for all.