The Toyota lineup is aging very fast against the competition. The Corolla hasn’t had a full model change since 2006, same with the Camry and Rav4. Toyota has delayed their updates in the face of the financial crisis and to better time a release as the global economy recovers, but their attrition to their marketshare is getting fairly dramatic. So the new Vitz seems to be the harbinger for the succession of Toyota updates. One thing that Toyota that really gotten right with this car is that its globalized the manufacturing since it’ll be built in Japan, France, Thailand, Indonesia, China, and Taiwan. So this car should be able to be priced competitively in a lot more markets. But the question isn’t how this car stacks up against its current competitor but rather will it be a competitive platform for the next 5 years. For Toyota they really need to hit a home run with the Corolla.
The truth about the Chevy citation was it rarely saw the road. Mine was in the shop more days than Miles driven and mine was not alone. We purchased the car new in 1980 with a car of the year sticker on the rear window and <1000 miles later it broke down with a broken trans shaft. Just to keep it short it broke with the same issue over 15 times. In fact it once broke leaving the car dealership repair shop. Chevy dealership just keep on repairing it each time taking a little longer than the previous repair they were just buying time waiting for the warranty to expire. The car had huge amounts of power for a piece of junk. I've owned my share of muscle cars from 78 Z28 Camaro to 70 LT1 Corvette to mopars 1970 cuda challenger and a 1969 dodge superbee. I had a buddy that worked at P Y Chevy in Laredo it was a well known fact that the Chevy citation had this issue. After the warranty expired we just waited on the recalls to get the car fixed after the last recall repair we immediately sold it <7 days later the new owner contacted and threatened us with a lawsuit. We sold the car for 800.00 dollars it had less than 5,000 miles (3k of that was repair test miles) do the math 5,999.00 plus TTL – 800.00 when we sold it plus well over 5,000 USD for the 3 years we owned it in repairs not covered and tow truck fees equals I was better off giving the salesman 10K in 1980 not to sell me the car. The person that purchased it from us lived less than 2 miles from my home in Laredo and for over 3 years it didn't move an inch. Chevy later came out with a fix a bronze shaft would hold up for maybe 6 months before breaking. Chevy's Citation issue was not the cheap plastic interior and vinyl seats, speedometers that break and transmissions that leak fluid the main reason the citation failed and I lived it for over 3 years as did my best friend was the transmission broke all the time. We purchased this car so I can have a daily driver the dodge superbee with dual carbs tunnel ram 456 gears hemi 4 speed got 6 miles to the gallon downhill with a gust of wind behind it I'm not sure what beat me up more the price of gas which just passed 1.00 a gallon or the repairs of the citation so I wouldn't waste so much gas. I purchased two other American cars after that and learned my lesson once and for all, it all VW’s and Hondas from now on. To be fair most American vehicles where junk in the 80’s through the 90’s and that is why foreign cars sales passed American cars sales for the first time. The Chevy Citation didn’t die in the mid eighties as most thought, it continued into the nineties maybe longer they just change the body and called it something else like Chevy berretta. I dated a girl that owned a Chevy Berretta one day she asked me to check the oil for her and it was like a horrible nightmare when I opened the hood it was 1980 all over again and I’m waiting for the tow truck. My motto once was I’d rather push a Chevy than drive a Honda than soon changed after pushing my last Chevy’s in 20 below on my birthday. I was looking to see if the Citation made the worst 50 cars of all time and was very surprised to find out it didn’t. The citation’s problem was like every other American car issue it was arrogance stupidity and pride. American car manufactures would rather pay the penalties in lawsuits than fixed the problem for example Ford refused the solve the problem in the ford pinto it was cheaper to pay the 50 million dollar lawsuits than the 150 million it would taken to fix the cars from blowing up in the case of a severe rear end collision.
An example from my business career: We sold our company in 1998 to an American company when our then-partner wanted to sell. We got shares in the company that purchased us. A few months later, that company, in which we were the largest individual shareholder, announced a major accounting fraud and the shares dropped by approximately 80 per cent. Worse than that, the Russian debt crisis hit and Russia was our largest business. It seemed like a really bad day, a terrible thunderstorm. Nevertheless, these events ultimately led to our repurchase of the company at a very reasonable price, with new partners. Those thunderstorms were really rays of light guiding us to a bright future.