Tesla vs. Toyota: A Strategic Analysis of Success and Failure in the Automotive Industry

This study delves into the contrasting trajectories of Tesla and Toyota, two prominent players in the automotive sector. Through a comprehensive analysis of their strategic positioning, stakeholder engagement, external influences, industry dynamics, and internal capabilities, the study aims to uncover the factors driving their success and the challenges faced by their competitors. The analysis utilizes frameworks such as PEST and Porter's Five Forces to illuminate the external and internal factors shaping their competitive landscape. The study concludes by highlighting the importance of strategic congruence, stakeholder stewardship, adaptability, competitive positioning, and optimal utilization of internal capabilities for navigating the complexities of the contemporary business environment.

Why do some companies succeed while others fail?
Is it because they are good at what they do, or because they are in the right
place?
(Tesla & Toyota Company)
Subject : Strategic Analysis: Tools & Techniques
Sub Code : ST4S38
Student Name : Pramodi Malka Uswatta Liyanage
Student ID : 30088881

CONTENT
1. Introduction 3
2. External Analysis 4
2.1 PEST Analysis 4 – 8
2.2 Porte’s Analysis 8 – 11
3. Conclusion 12
4. References 13

1. INTRODUCTION
In the contemporary, fiercely competitive milieu of the business world, the triumph or downfall
of enterprises is contingent upon a myriad of factors. This scholarly inquiry aims to elucidate
the divergent trajectories of Tesla and Toyota, two prominent entities within the automotive
sector. Through a rigorous examination of each company's strategic positioning, stakeholder
engagement strategies, external contextual influences, industry dynamics, and internal
organizational capacities, this study endeavors to unveil the determinants of their success and
the impediments faced by their competitors.
Central to the ability of Tesla and Toyota to surpass their rivals are several pivotal elements.
Primarily, their strategic stances, encompassing articulated visions, objectives, and values,
furnish a lucid trajectory for organizational endeavors. Tesla's fervent dedication to innovation
and sustainability, juxtaposed with Toyota's focus on reliability and operational efficiency,
constitute foundational pillars underpinning their respective accomplishments.
Furthermore, the adept management of stakeholders has played a seminal role in the attainment
of both companies. By discerning stakeholder interests and nurturing enduring alliances, Tesla
and Toyota have fostered customer allegiance, ensured adherence to regulatory frameworks,
and cultivated propitious market environments, thus distinguishing themselves from less
prosperous counterparts.
The adept negotiation of external forces, facilitated through methodologies such as PEST
analysis, has additionally fortified their competitive prowess. Through proactive adaptation to
economic, social, technological, legal, Tesla and Toyota have capitalized on opportunities,
mitigated risks, and exhibited resilience in the face of change.
Insights garnered from frameworks like Porter's Five Forces model and comprehensive
industry analyses shed illumination on the differential success trajectories of Tesla and Toyota
vis-à-vis their counterparts. Leveraging robust brand equity, expansive distribution networks,
and product differentiation strategies, they have effectively mitigated threats posed by new
entrants, bargaining power of buyers, and substitutes, thus sustaining their hegemony within
the market.
Internally, both entities boast distinctive reservoirs of resources, capabilities, and core
competencies discerned through meticulous resource-based assessments and value chain
analyses. From Tesla's proclivity for innovation to Toyota's acumen in production efficiency,
these competencies have propelled them to preeminent global positions, accentuating the
imperative of harnessing internal capabilities for enduring success.

This scholarly endeavor proffers a holistic exploration of Tesla and Toyota's external
contextual landscapes, industry dynamics, internal proficiencies, and the underlying factors
delineating their disparate trajectories. Accentuating the exigency of strategic congruence,
stakeholder stewardship, adaptability, competitive positioning, and optimal utilization of
internal capabilities, it furnishes invaluable insights pertinent to navigating the exigencies of
the contemporary, cutthroat business environment.
2. EXTERNAL ANALAYSIS
External analysis entails assessing the industry environment surrounding a company,
encompassing elements like competitive structure, position, dynamics, and historical context.
At a macro level, it incorporates macroeconomic, global, political, social, demographic, and
technological factors. The main objective of external analysis is to identify opportunities and
threats within an industry or segment, which influence profitability, growth prospects, and
market volatility (CFI, 2023).
2.1 PEST AYALISIS
The PEST analysis, encompassing political, economic, social, and technological factors, is a
strategic management tool used by organizations to evaluate key external influences affecting
their operations, thereby enhancing competitiveness. This model focuses on four core areas as
indicated by its acronym. A widely adopted variant, particularly in the U.K., is the PESTLE
strategic planning approach, which extends its scope to include legal and environmental
considerations (Kenton, 2024).

Source: PEST Analysis in Healthcare Market Research, 2022
Tesla Toyota
Political
Factores
 Tesla Inc. can capitalize on
government incentives to
bolster its financial
performance. The political
environment directly and
indirectly shapes a country's
business landscape, impacting
economic activity and
administrative frameworks.
Therefore, understanding and
navigating political dynamics
is crucial for Tesla's success
(Ali & Ahmad, 2014).
 Tesla benefits from
government support aligned
with environmental protection
goals, particularly due to its
production of electric vehicles
(EVs) which contribute to
better air quality and energy
 The stability of major markets
politically presents Toyota with a
growth opportunity, as it can
expand with minimal political
tension. Additionally, involvement
in free-trade agreements within
Toyota's operating countries offers
chances for enhanced market
penetration (Ferguson, 2023).
Political instability in nations
where Toyota maintains
production facilities or significant
sales operations poses a threat to
its operations. This instability
encompasses the risk of civil
unrest, governmental changes, and
other disruptions that could impact
Toyota's supply chain,
manufacturing, or sales processes
(Emma, 2022)

security through reduced
carbon dioxide emissions
(Mckerracher, 2018). Initially,
Tesla received a loan from the
advanced technology vehicle
manufacturing program during
the Bush administration,
which was repaid at low
interest (Koopman,2020).
Furthermore, various states
have provided subsidies,
including income tax credits
for Tesla purchases, becoming
integral to Tesla's business
model and heavily featured in
its advertising. Consequently,
Tesla's financial success is
closely tied to government-
granted privileges, as
evidenced by its stock value
reaching $12 billion,
indicating a prioritization of
political preferences over
customer value creation
(Akakpo et al, 2019).
 Toyota, a global corporation, faces
significant impacts from
international trade policies,
political instability in production
nations, and varying regulations.
However, it benefits from
government incentives for eco-
friendly vehicles. Brexit and the
US-China trade war add further
operational challenges (Alahak,
2019)
Eg: Dr. Johan van Zyl highlighted the
grave impact of Brexit and the Covid
crisis on Toyota, labeling it a "double
whammy." With two UK plants
employing 3,000 people, the
company awaits trade talk outcomes
to determine their future, recognizing
the challenges Brexit poses for the
UK's recovery despite expecting a
strong European rebound (BBC
News, 2020).
Economic
Factors
Tesla stimulates economic
development in the US, China, and
Europe through the encouragement of
electric vehicle (EV) market
competition, resulting in increased
production projects and job
opportunities (Ezequiel, 2016). In
2016, Tesla bolstered domestic
competition within the automotive
sector by introducing a diverse range
of electric vehicles for market sales,
thereby propelling the growth of the
automotive industry trend and creating
additional opportunities for economic
development within the renewable
energy market (Gibson, 2020).
Eg: Tesla achieved record profits and
revenues in 2022, totaling $12.6
billion in profit, which more than
doubled compared to 2021 and
Toyota's sales are strongly affected
by global economic conditions, with
growth stimulating purchases while
recessions delay decisions. Currency
fluctuations, especially with a strong
yen, impact export costs for Toyota
(Ondeng, 2022). Interest rates
influence sales, lower rates increasing
purchases and higher rates deterring
them. Fuel prices affect consumer
preferences, potentially favoring
Toyota's hybrids and electric vehicles
during high fuel costs. Inflation
impacts manufacturing costs and
consumer prices, while employment
rates influence vehicle demand, with
high employment boosting sales and
high unemployment dampening them
(Bencheikh, 2019).

exceeded analysts' expectations.
Despite its remarkable performance,
the company recognized "short-term
uncertainty" regarding the broader
economy as it enters the new year,
amidst several significant challenges
(Domonoske, 2023).
Social
Factors
Advancements in electric vehicle
technology present a promising
avenue for addressing environmental
challenges in industrial nations, where
greenhouse emissions are on the rise
each year. Electric vehicles boast
superior energy efficiency, converting
over 50% of electrical energy into
wheel power, in contrast to gas-
powered vehicles, which typically
convert only 17% to 21% of gasoline
energy. These benefits drive the
increasing demand for electrically
powered vehicles (Singh, 2020).
Toyota faced significant challenges
with fuel pump failures leading to the
recall of over 700,000 cars,
impacting both its finances and brand
reputation negatively. To regain trust
and appeal to environmentally
conscious customers, Toyota should
prioritize manufacturing electric and
hybrid vehicles. Safety concerns,
highlighted by issues like faulty
accelerator systems, have further
damaged the company's reputation,
leading to consumer distrust despite
significant remediation efforts
(Gareche, 2019).
Toyota is significantly influenced by
a broader spectrum of social factors,
including shifts in family values,
evolving consumer attitudes and
opinions toward automobiles and
travel, media portrayals of the brand,
and the well-being of its target
customer demographic (Dudovskiy,
2019).
Technological
Factors
Automobile companies are
increasingly shifting their attention
from traditional vehicles to electric
vehicles (EVs), fueling the
advancement of EVs within the
automobile market. EVs present
several advantages over traditional
vehicles, including the ability to be
powered by electricity, a renewable
resource, as opposed to non-
renewable gasoline used by traditional
vehicles (Singhe, 2020). Moreover,
electricity tends to be more cost-
Toyota showcases its innovative
prowess in vehicle technology
through its groundbreaking hybrid
technology, exemplified by the iconic
Prius, amidst navigating the evolving
landscape of electric, autonomous,
and connected vehicles.
Advancements in manufacturing
technology present avenues for
efficiency enhancement, necessitating
Toyota's adaptation (Ondeng, 2022).
The transition to digital platforms
reshapes sales strategies,

effective than gasoline. Additionally,
EVs benefit from regenerative
braking during travel, enhancing
energy efficiency and reducing costs
compared to gas-powered vehicles,
with EVs typically priced at one third
of the cost of gasoline-powered
vehicles on average (Reseach, 2020).
underscoring the criticality of
cybersecurity in the realm of
connected cars. Meanwhile,
advancements in battery technology
and alternative fuels, such as
hydrogen, open up new avenues for
exploration. Furthermore, innovations
in regenerative technologies bolster
the efficiency and allure of hybrid and
electric vehicles, marking significant
strides in sustainable transportation
(Bhattacheryay, 2021).
Additionally, factors such as market competition, supplier relationships, and geopolitical events
also play significant roles in Tesla's and Toyota's external environment. Analyzing these
external factors helps Tesla anticipate challenges, identify opportunities, and adapt its strategies
to remain competitive in the rapidly evolving automotive industry.
2.2 POTER’ ANALYSIS
Michael E. Porter’s Five Forces framework, stemming from his seminal work in 1979, is
fundamental in business strategy. It provides organizations with a structured methodology to
assess their competitive landscape and develop strategic initiatives for long-term viability. The
framework identifies five pivotal forces inherent in every industry, influencing its competitive
dynamics: competitive rivalry, supplier power, buyer power, threat of substitution, and threat of
new entrants (Watts, 2024).

The Bargaining Power of Suppliers refers to suppliers' ability to extract profits from companies in
the analyzed industry, with higher power diminishing segment attractiveness. Supplier influence is
contingent upon factors such as market concentration, the threat of forward integration, the
availability of substitute inputs, the purchasing volume of the company, and specific investments
made by suppliers. In Tesla's case, the company manufactures internal engine components,
transmissions, and engineering, while sourcing lion cells for batteries from various suppliers,
resulting in a relatively low supply impact (Byum, 2016).
In the realm of the automobile market, Toyota's suppliers seek to exert influence on the company to
benefit their own businesses, as elucidated by the Five Forces analysis. External factors contribute
to the weak bargaining power of suppliers for Toyota, including a moderate population of suppliers,
high overall supply, and low forward integration. While the limited number of suppliers worldwide
does exert some influence, the high availability of components weakens their power. Additionally,
many suppliers lack control over distribution channels, further diminishing their bargaining power.
Consequently, Toyota can effectively address this weak force through supply chain management
measures and fostering strong relationships with suppliers, as part of its operations management
strategy (FernFort, 2019).
Source : Nulivo, 2024

2.2.2 Bargaining Power of Buyers
The concept of the Bargaining Power of Buyers operates in reverse to that of suppliers, with key
factors including a higher concentration of buyers, large purchasing volumes, the availability of
substitutes, specific investments by the company, and the potential threat of backward integration
by the purchaser (Byun, 2016). Tesla faces minimal pressure from buyers due to their dispersed
global presence across both business-to-business (B2B) and business-to-consumer (B2C)
markets, resulting in a low bargaining power of buyers (Hirsch, 2016).
In Toyota's Porter Five Forces Analysis, the bargaining power of customers in the 4-Wheeler
market is deemed moderate to high. The emergence of substitutes like two-wheelers and electric
vehicles has led customers to exert pressure on the organization to reduce prices and adopt more
sustainable practices (Fernfort, 2019). Despite a wide range of options and numerous
competitors, the bargaining power of customers is somewhat limited due to fixed industry prices.
Toyota's significant market share in many countries also restricts customer bargaining power,
especially in the premium segment where there are few cheaper alternatives available
(Fergusonc, 2019).
2.2.3 Threat of New Entry
New entrants need to recognize that a higher threat level diminishes the attractiveness of an
industry for various reasons. The primary factor is the potential impact on the new entrant's
abstract market share. Additionally, new entrants contribute to a reduced industry concentration,
leading to heightened price competition (Tesla, 2019). The industry features relatively high
financial entry barriers, although various manufacturers are entering the electric car market, often
through established partnerships with government financial support. Consequently, there is a low
threat of new entrants.
Extensive economies of scale present a significant barrier for new entrants in the automobile
industry, particularly for established brands like Toyota. Leveraging its size and global operations,
Toyota enjoys substantial economies of scale, allowing the company to lower vehicle prices and
maintain competitiveness (Dudovskiy, 2016). Furthermore, factors such as product differentiation,
the likelihood of retaliation from incumbent manufacturers, and regulatory barriers in various
markets further diminish the threat of new entrants. Collectively, these elements contribute to the
formidable challenges faced by potential newcomers attempting to enter the automotive market
(Ferguson, 2023).
2.2.4 Threat of Substitutes
Substitutes are alternative products from different industries that fulfill similar customer needs,
leading to a decrease in demand for the original product as it becomes replaceable. The impact of
substitutes is akin to that of new entries, potentially affecting market dynamics significantly.
Various substitute products exist, including hydrogen, hybrid, biofuel, conventional fuel, and
clean diesel options. Given the possibility of rapidly emerging new technologies, understanding
the threat of substitution becomes crucial, especially in markets with a high risk of substitute
products (Vergis, 2017).

Substitutes pose a significant challenge to Toyota's business as they compete directly with the
company's offerings. This aspect of the Five Forces analysis evaluates the impact of substitute
products on Toyota's market position. In Toyota's context, several external factors within the
automotive industry contribute to a moderate threat of substitution (Fedotov, 2022):
 Low buyer switching costs (strong force)
 Moderate availability of substitutes (moderate force)
 Low convenience in using substitutes (weak force)
Customers can easily switch from Toyota to substitutes such as public transportation, bicycles, and
motorcycles, including those manufactured by companies like Harley-Davidson. However, the
availability of many substitutes is limited, with some areas lacking access to public transportation.
Moreover, many substitutes are less convenient compared to cars (Sforcina, 2023). Consequently, these
factors collectively result in a moderate threat of substitution for Toyota. To address this challenge,
Toyota must focus on enhancing the accessibility, affordability, and convenience of its products.
Leveraging strategic marketing initiatives, such as optimizing the marketing mix (4Ps), can bolster
Toyota's market presence and mitigate the identified threat of substitution (Fern Fort, 2019).
2.4.5. Rivalry amongst Existing Competitors
While entry barriers are substantial, competition among major brands in the EV sector remains
moderate due to the absence of other EVs. Consequently, rivalry among competitors is also
moderate. Overall, suppliers' and buyers' bargaining power is relatively low, but the threat of
substitute cars looms large. New entry threats are limited. Thus, it's imperative for Tesla to
differentiate itself from competitors.
Toyota faces intense competition, a significant factor highlighted in the Five Forces analysis. This
aspect assesses how companies influence each other within the industry. In Toyota's scenario, several
external factors contribute to the strong force of competitive rivalry (Forbes, 2019):
 High aggressiveness among automakers (strong force)
 Extensive variety and differentiation of firms (strong force)
 Limited number of major firms (moderate force)
Automotive companies demonstrate aggressive competition through innovation and marketing
strategies. Toyota contends with a diverse range of firms that distinguish themselves based on factors
such as cost, technology, fuel efficiency, design, and brand image (Volkman, 2020). Despite numerous
competitors, Toyota primarily competes with a select few multinational giants like General Motors,
Ford, Tesla, BMW, and Nissan. Nevertheless, this analysis underscores the need for Toyota to develop
robust strategies to address the intense competitive environment effectively. Both Toyota and its
competitors closely monitor each other's moves, emphasizing the importance of leveraging competitive
advantages and core competencies identified in the company's SWOT analysis to mitigate the impact of
competitive rivalry (Srinivasan, 2020).

Summary of Tesla Company Porter’s Analysis
So
urce: Byun, 2016
3. Conclusion
In conclusion, both Tesla and Toyota stand out with their impressive array of resources and capabilities,
encompassing cutting-edge technology, robust brand recognition, and strategic alliances within the
electric vehicle sector. Bolstered by growing global support for eco-friendly transportation solutions
and an expanding market landscape, both companies are poised for significant growth opportunities.
Much akin to the groundbreaking impact of the early iPhone, Tesla's innovative ethos is revolutionizing
the automotive domain, striving to position electric propulsion as the cornerstone of future
transportation. Meanwhile, Toyota's enduring success is underpinned by its unwavering commitment to
innovation and customer-centric product enhancements. The accomplishments of Tesla offer invaluable
insights into sustainable business practices, underscoring the imperative of continual innovation and
strategic investment.
Looking ahead, Tesla, as a trailblazer in the electric vehicle realm, should concentrate on consolidating
its presence in the premium segment to safeguard its brand reputation and profitability. Moreover, the
development of a distinctively designed city-car model tailored for the mass market could bolster
competitiveness against established rivals like the BMW Mini or the Fiat 500. To further fortify its
market standing, Tesla should prioritize expanding production capacities, setting industry benchmarks,
and fostering widespread technology adoption. Additionally, initiatives such as introducing a
proprietary charging system endorsed by industry peers, collaborative deployment of supercharger
networks, and expansive international advertising campaigns are pivotal for enhancing brand visibility
and consumer engagement. Tesla must also remain vigilant against potential incidents or negative
experiences that could undermine its reputation and consumer trust. Through astute strategic planning
and continued innovation, both Tesla and Toyota are poised to shape the future trajectory of the
automotive industry.

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