Akio Toyoda, the new president of Toyota Motor Corp., said Thursday that the Japanese automaker founded by his grandfather needed to refocus on its original principles and goals of making high-quality vehicles that people can afford. In his first public presentation outside Japan since becoming president, Toyoda emphasized the company's core principles, including the need to produce clean vehicles for the benefit of society. But, he said, "we must do it in a way that's affordable to today's customers."
That is the key challenge for the industry, which is "at a point where we must re-invent the automobile."
But Toyoda, a racing enthusiast, said one of his objectives as head of the company was to inject excitement into the lineup. He said Toyota planned to develop an affordable, fun-to-drive sports car in the next few years but did not elaborate.
2009 Frankfurt Auto Show Photo Gallery
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