Toyota slashes marketing budgets to fund innovation drive

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Japanese car brand Toyota has launched a process of reappraising its priorities in the business with a decision to slash the sales and marketing (worth $ 24.66bn per year) to reallocate resources towards research and development.

The emphasis has already been to break the treaty with Denture's Chinese forces, its long-term communication and advertising companies in favor of non-traditional (and cheaper) advertising approaches - saving about 50 million dollars a year -

In this way, Toyota began to enter Apple, Google, Tesla and Tencent models, depending on their technology-based business such as autonomous vehicles.

It is believed that the increased cost of Toyota hosting events such as Lexus's brand journey and a display stand on Drive and Beijing Auto shows, which previously had an excessive charge, encouraged the plugging of the plug.

An anonymous Toyota Officer told Reuters, "We can post record profits, but we do not think we are following their investment movements."

Toyota hopes that by bringing a lot of functions here, it can increase its profit margins with Silicon Valley Tech Titans