TOYOTA CITY — The untold story of how and why Toyota Motor Corp. created the all-new Corolla is an eye-opener. By 1997, when initial work on the 2000 model began, the company faced what then President Hiroshi Okuda starkly described as a “crisis” that left Toyota executives with no choice but gut-wrenching change. An aging customer base for the automaker's perennial best-seller, plus an imprecise and bloated development cost structure, forced them to rethink their basic approach to ...

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