Toyota carefully has researched and executed its way to becoming an auto making powerhouse that is virtually unstoppable. In fiscal 2004, global sales increased 10.5% to 7.4 million vehicles, with growth almost everywhere. Profits rose to a record $11.1 billion, more than the combined earnings of General Motors, Ford and DaimlerChrysler. It is being spent to further its greatness: $9.5 billion annually in plants and equipment, another $4.7 billion in research and development. Much of ...
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