Toyota and the Art of Veneration.

Toyota is deservedly revered in the Automotive industry. It has produced a quality product that people find attractive enough to buy and they have an extremely competent management. For many years, automotive publications started to blurt out praise as soon as they saw the "T" in Toyota. Yes, they WERE that good. As a consequence, word has filtered out that a Toyota is a good car, regardless of anything else. It has been wonderful and subtle marketing that has left the competitors in the dust.

Recently, there have been signs of problems, however. Toyota built a huge factory in Texas to churn out full-size pickups and the new Sequioia. The location of the factory, by the way, was not a coincidence - deep in the heart of Pickupland, the idea was to get hard core American Pickup buyers to get in a Texan Toyota. The plan failed big time. The plant opened as the pickup market faltered. There we some recalls early on. Then the Tundra based Sequioa was launched to yawns, as the bottom fell out of the large SUV market as well. The new Venza has been praised for its interior but pelted for its ugly exterior. There are signs that the fabled Toyota quality may be slipping as their ranking falls slightly in JD Powers surveys and others.

The point here is: Beware the media hype. Yes, Toyota does make a good product, but they, just like everyone else, are fallible. Sometimes the industry and its media have great difficulty in separating hype, fiction and genuine facts. Do you remember the 1980's? Japan could do no wrong, we should all learn Japanese, they are the new rulers of the universe. In the early 1990's it was Mexico: it was the land of opportunity, the government was stable, could do no wrong, put your money there today. The car industry and its media is as susceptible as and industrial sector to the art of hype leading to veneration. We can and should learn from successful companies and countries, but learning includes examining mistakes and missteps, and blending them into the whole canvas. By examining only the positive, we create hype which serves only those who are hyped, not the community (consumers, industry and media) and produces a lopsided view of the market.