Already a Bloomberg.com user?
Sign in with the same account.
Starting in the late 1990s, Toyota set up manufacturing hubs in Asia, North America, and Europe that relied more on locally based suppliers and design teams to tailor vehicles to local tastes.
That's short for Construction of Cost Competitiveness for the 21st Century. Started in 1998, the initiative wrung out more than $10 billion of savings over six years by redesigning parts and working with suppliers to cut costs.
This program, a more ambitious version of CCC21, started in 2005. It promised more savings by making the entire development process cheaper and by further trimming parts and production costs.
In 2006 a leaked copy of a Toyota "global master plan" called for reaching a 15% share of the world car market by 2010. Toyota overtook GM as the world's biggest carmaker in 2008 and today has a 11.7% share of the worldwide auto market.