Toyota is currently the number one car manufacturer in Australia with a market share of around 20%. Toyota has a reliable and high quality image in Australia and has been the proud winner of three prestigious Banksia awards and one environmental best practice award from the United Nations. Toyota has produced a large range of different vehicles across many different markets and has the capacity to produce new technology as it has already done before with the introduction of the Toyota Prius electric/petrol hybrid.
WEAKNESSESHybrid is new technology that is not “tried and true” and little is known about potential development issues. Toyota’s petrol and diesel vehicles have been around for decades and have been proven reliable time and time again. Electric/solar powered vehicles are new to the market and consumers might be reluctant to swap. Petrol-free design means the Synergy loses some acceleration as a trade-off for economy and being environmentally friendly.
OPPORTUNITIESPetrol prices are currently high due to the cost of oil, this is a perfect opportunity for a car that does not require petrol to enter the market. Heavy traffic build-up in Australian cities means congestion and pollution are only going to get worse. The Prius is a low emissions vehicle as and therefore will appeal to those wanting to help “keep the air clean”. Australians will want to show leadership by being the first to purchase a low emissions environmentally friendly vehicle.
THREATSAustralia already has a saturated small car market which is where the Synergy will be competing. Car manufacturers with strong brand recognition joining the race to manufacture petrol-free cars. Public transportation is an indirect threat as it can’t replace the convenience of a car. However, the government’s continual promise to improve public transportation has seen as increase in the number of people catching public transport in capitalcities like Melbourne.