Toyoda compared Tesla’s 367,500 cars sold last year to Toyota’s 10.74 million units for the same period. Investor interest has skyrocketed Tesla shares, but when it comes to customers, they can only get a full menu with Toyota, Toyoda said, jumping into the food analogy.
“We are losing on the share price,” he said. “But when it comes to products, we have a full menu that will be chosen by customers.”
“Tesla says their recipe will be the norm in the future, but what Toyota has is a real kitchen and a real chef,” Toyoda continues. “They don’t really do anything for real, people just buy the recipe. We have the kitchen and the chef, and we cook real food.
He didn’t elaborate on what exactly he meant by Tesla selling recipes and not actual cars (sorry, food), but it was clear that Toyota was superior in providing multiple options to difficult customers. A little something for everyone, if you will – but not much in terms of the all-electric variety, which is Tesla’s only option.
As for what Toyota could learn from the much younger automaker and its new rival, it’s about generating profits through electric vehicles, renewable energy products and software updates.