Akio Toyoda, President and CEO of Toyota Motor Corporation (TMC) is the 2021 World Car Person of the Year.
The honor was bestowed by the World Car Awards jury, a panel of more than 90 distinguished international journalists.
The World Car Awards announced: “Akio Toyoda is the charismatic President and CEO of Toyota Motor Corporation, where he has spent years successfully remaking his company. In 2020, under his leadership, Toyota remained profitable, despite COVID-19, thus protecting jobs worldwide. He has maintained Toyota’s steady pace of development for the Connected, Autonomous, Shared and Electric (CASE) era and has initiated construction of the Woven City, an exciting, real-life prototype city of the future. All while actively participating in motorsports himself, as a driver.”
Responding to the World Car Awards, President Toyoda said: “On behalf of all 360,000 Toyota Team members around the world, thank you for this tremendous honor. If you don’t mind, however, I would like to change this award from car ‘person’ of the year to car ‘people’ of
New Tata Motors CEO won’t join Co; Scrappage incentive scheme rolled out; No toll booths anywhere in 1 year
The government has clarified that there will be no toll booth anywhere in the country within the next one year. This does not mean that there won’t be any tolls. It simply means that the process of toll collection will be completely electronic and vehicles won’t have to stop in long queues to pay toll. More on this later in the copy but first let us see what made headlines in the automotive space this week.
Not everyone enthused by Scrappage incentive scheme
The long-delayed and much-awaited scrappage incentive scheme announced by the government on March 18 has been received with a mix of optimism and doubt by the automotive industry.
While industry bodies which have been lobbying for a faster implementation of the scheme
Last year wasn’t good for new car sales. Factory shutdowns, lockdowns, and consumer hesitancy caused car sales to crater in the Spring of 2020; stronger sales in the latter months of the year couldn’t erase the early drop. Overall, sales were down 14.6 percent in 2020, which sounds like bad news for dealers. That’s hardly the case: Automotive News reports that overall dealer profits soared by 48 percent last year, leading to record-setting profits despite sluggish sales.
That begs the question: How did dealers manage to make so much more money selling fewer cars? The first answer appears to be simple: They put the squeeze on us. Shuttered factories drastically reduced supply, but demand stayed strong. That led to a rush on dealers for in-demand models, with a line of customers ready to pay. Dealers could charge what