In a survey of 3,322 business leaders, Fortune magazine found that Toyota is "America's Most Admired Car Manufacturer." Toyota has already passed Chrysler for third place in US car sales, and it will likely pass Ford this year. It may also overtake General Motors as the leader in worldwide sales in 2007. This is the second consecutive year in which Toyota has been named to the list, and it now falls behind only General Electric and Starbucks in third place overall. Toyota, of course, is famed for its manufacturing prowess as bestowed by the "Toyota Way." Understandably, not everyone is pleased with Toyota's mercurial ascent stateside. Senator Debbie Stabenow of Michigan--where the ex-Big Three automakers have a strong presence--calls for stronger challenges on alleged currency manipulation by Japan. Meanwhile, some stock-car racing fans are displeased by Toyota's efforts to enter the NASCAR racing series. An irate fan has formed an activist group named FART--Fans Against Racing Toyotas. FART claims that it is raising a stink over this "foreign" automaker invading American turf.Unsurprisingly, Toyota is keen on being perceived as an American company to counter such criticisms. It has built plants in strategic locations to enlist the support of influential politicians, like that of former Senate majority leader Trent Lott by building a $1.3B plant in Mississippi. It has also started a PR campaign claiming that it has created 386,000 jobs stateside (never mind those lost by GM, Ford, and Chrysler due to competition). Stabenow again complains that 46% of Japanese cars sold in the US in 2006 came from Japan, but still, more than half were made locally. Toyota is politically aware:
Privately, Toyota officials acknowledge the potential pitfalls of growing rapidly in the U.S. during a period of job cuts and plant closings for GM, Ford Motor and Chrysler. Seiichi "Sean" Sudo, president of Toyota Engineering and Manufacturing in North America, warned in a recent presentation that the automaker could become "a scapegoat" as its Detroit competitors work through turnaround plans.