Toyota stands behind its leader despite recent scandals

AutoExec Summary
Akio Toyoda has been re-elected as Toyota’s chairman despite scandals involving Hino, Daihatsu, and TICO. Support for him fell from 96% in 2022 to 85% in 2023. Toyota faced issues with engine certification, safety data falsification, and compliance with certification requirements. Toyoda-san and CEO Koji Sato have apologized for the company’s faults. Toyota has been criticized for its slow uptake of EVs, with hybrids accounting for the majority of sales. The carmaker aims to reach net zero emissions by 2050. Toyota’s shareholders rejected a proposal for greater disclosure of climate lobbying.

Brands mentioned: Toyota, Hino, Daihatsu, TICO, Mazda, Subaru.