During the reign of company President Katsuaki Watanabe, Toyota became the number one automaker in the world, along with amassing $52 billion in cash and marketable securities. That sounds like one of the most amazing runs in the history of the automotive industry, but it's more than a little disappointing to company scion Shoichiro Toyoda.
The Toyoda family has felt the pinch of the global automotive crash in the worst possible place: their wallets. Toyota share prices have plummeted by a very substantial 46% in the past nine months, costing the Toyoda family hundreds of millions of dollars. Soon-to-be company president Akio Toyoda's 4.6 million Toyota shares has dropped $145 million; a fantastic decline, but less than half of his father's loss. Former company president and honorary chairman Shoichiro Toyoda has lost $304 million
The Automotive Hall of Fame has added five new inductees to its ranks. A.J. Foyt, Dan Gurney, Charles B. King, Sergio Pininfarina, and Shoichiro Toyoda were honored with a formal induction ceremony on Tuesday, October 16th, having been named as inductees back in March at the New York International Auto Show. Foyt and Gurney are honored for their racing endeavors as teammates and owners. Charles B. King may be an obscure name to most, but he was a renaissance man who designed, built, and drove th
Although the actual award ceremony and induction won't take place until October, the Automotive Hall of Fame announced its class of 2007. Five legendary names from all facets of the automotive world were revealed during the International Motor Press Association meeting at the New York International Auto Show yesterday. The full release follows the jump, but here are the five inductees in brief: