Dr. Yoshiaki Yahagi
Toyota Central R&D Labs, Principal Researcher & General Manager, IP Nagakute, Aichi, Japan

Masahiro Ezaki
Toyota Technical Development Corporation, Managing Director, Hanamoto-cho, Toyota, Aichi, Japan

1. Recent Economic Conditions Embracing The Automobile Industry

The financial crisis that triggered in the United States on September 15, 2008 has spread and intensified globally with the force of a billow, drawing the automobile industry into the vortex of a radically changing economic environment. The current crisis is said to be a type that occurs only once in a hundred years. Looking back, there have been similar cases of radical change in the economic environment that have also been called crises. The first and second oil crises of 1973 and 1978 originated a change in the way Middle Eastern crude oil is provided. These events caused radical changes in the economic environment, just like the current crisis.

This paper therefore provides examples of crises that have occurred in the past, and looks back on what happened and what measures were taken to resolve the issues in order to reflect on how crises that may develop in the future, as well as the current one, should be handled.