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Toyota to cut marketing flab to fuel research, embrace new age advertising

Chief executive Akio Toyoda and chief financial and risk officer Koji Kobayashi want to follow the example of Tesla, Google and Tencent

Reuters  |  Beijing 

Toyota has begun slashing costs, starting with sales and marketing, and shifting resources into research that will help it keep up with new competitors, four people familiar with the matter said. One of the company's first moves was to cancel contracts with the China unit of its long-term communication and advertising agency, Dentsu Inc, the sources said. Chief executive Akio Toyoda and chief financial and risk officer Koji Kobayashi want to follow the example of Tesla, Google and Tencent - all of which rely heavily on cheaper, often more innovative non-traditional ...

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First Published: Thu, June 21 2018. 09:32 IST
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