In Rapid Turnaround, Toyota Is on Track to Post Record Earnings

Last week, reports the New York Times, Toyota hit a milestone in its comeback, saying it was on pace to earn its biggest-ever annual profit in its current fiscal year. It is a rapid turnaround for a company that nearly lost its reputation for quality when millions of its cars were recalled for problems with unintended acceleration.  Under its chief executive, Akio Toyoda, the company has hastened cost cuts, streamlined its global organization chart and increased its emphasis on newer models, flashy designs and fuel economy. The company has also continued to resolve lawsuits stemming from the recalls.  While  American automakers have made drastic comebacks since the recession, no car company has had a bigger revival than Toyota.