Threat of New Competitors – Low Entering the automotive manufacturing industry is very expensive and precarious. The initial capital investment is extremely high, while the competition within the companies is very strong and under the control of established companies. The distinct branding, consistent market presence in a wide range of segments and enormous size give Toyota a competitive advantage over new entrants in the automotive manufacturing industry. Threat of Substitutes – Media As industry styles indicate, customers still have a concrete dependence on the used car market. Keeping in mind the fact that the economy is still struggling, the second-hand automotive industry represents a vital part of the demand for vehicles. Toyota has narrowed the price gap between second-hand cars and its personal automobiles due to its ability to reduce costs more competently than its competitors; consequently, compared to competitors, substitution with used cars poses less of a threat