Toyota Motor Corporation (Japanese multinational automotive manufacturer), is known for its vehicles. As of 2019, the company was considered to be the tenth-largest revenue-generating firm in the world. Toyota is also the second-largest manufacturer of automobiles across the globe, behind Volkswagen. Toyota is the only company in the world that has manufactured more than ten million vehicles in a year.
Looking at the worldwide sales of the automobile, Toyota is ranked as the global leader in marketing and sales of hybrid electric automobiles. It is amongst the most significant companies to motivate the adoption of hybrid automobiles all across the world. Toyota has also been the leader in producing hydrogen fuel-cell vehicles.
Inception
Toyota was formed in the year 1937 by Kiichiro Toyoda. The company has its headquarters in Toyota City, Japan. Key people in this company are Akio Toyoda (President), Shigeru Hayakawa (Vice-chairman), and Takeshi Uchiyamada (Chairman).
In 1934, the Toyota Industries developed its first product, as the Type A engine. In 1936, its first passenger car, “the Toyota AA,” was launched. Toyota Motor Corporation manufactures vehicles under five brands, that includes the Toyota brand, Lexus, Hino, Daihatsu, and Ranz. Toyota Motor Corporation, a part of the grand Toyota Group, is considered to be amongst the largest conglomerates in Japan.
Evolution
Toyota released its first vehicles as the G1 truck and A1 passenger car in 1935.
1936, Toyoda launched its first passenger car in the industry as “the Model AA.”
In 1937, the company got formed as an autonomous firm in automobiles.
In September 1936, the company selected a new logo by organizing a public competition.
From September 1947, the company has sold small-sized vehicles under the name “Toyopet” as the Toyopet SA, the Toyopet SB light truck, Toyopet Stout light truck, Toyopet Master, Toyopet Crown, and the Toyopet Corona.
In the 1980s, Toyota’s Corolla was ranked to be the highly popular and best-selling automobiles in the world
Toyota achieved the Japanese Quality Control Award and started to participate in several motorsports competitions.
In 1982, the Toyota Motor Sales and TMC (Toyota Motor Company) combined in a single company, Toyota Motor Corporation.
After two years, Toyota partnered with General Motors and began establishing its new brands by the 1980s. In 1989, Toyota launched its luxury division, “Lexus.” Toyota Supra is considered to be a highly appreciated Japanese sports car.
In the 1990s, the company started to produce other types of automobiles along with the compact cars. It added several large-sized and luxurious automobiles to its line-up, that includes a full-sized pickup, named “the T100”. This was followed by newer versions of their sports automobiles as the MR2, Supra, Celica, at this time.
After laying a solid foundation in Europe and relishing the success of Toyota Team Europe, Toyota started to expand its market by establishing Toyota Motor Europe Marketing and Engineering for advertising of its vehicles throughout the continent.
After two years, Toyota set up its base in the UK. Their cars started to gain a lot of popularity among American drivers.
In 1999, Toyota planned to list it on London and New York Stock Exchanges.
In 2002, Toyota entered a Formula One championship. It established a joint venture with French motoring firms as Citroën and Peugeot.
In 2003, Toyota produced its automobiles in France. In the same year, it came up with a youth-oriented model, Scion, that became popular soon after its launch.
In 2005, Toyota stood at the eighth position on the Forbes 2000 list of leading firms in the world.
In August 2018, Toyota declared its investment in Uber’s autonomous cars. This investment was $500 Million.
Awards & Achievements
Toyota Company has received some of the below-mentioned awards and accolades:
- First No-Cost Maintenance Plan
- Longest-Lasting Vehicles of Any Full-Line Automotive Manufacturer
- Most Reliable Brand in the Import Automobile Category
- Best Overall Value Awards of Any Car Manufacturer in 2016
- Best Overall Value Awards of Any Brand in 2016
Net Worth of Toyota in 2024
Toyota is the world’s popular and most preferred Japanese automotive manufacturer. The company manufactures and sells the following products that include automobiles, commercial vehicles, luxury vehicles, and engines. Toyota is listed on the Tokyo Stock Exchange, London Stock Exchange, and the New York Stock Exchange. As of April 2024, The total operating income of the company is calculated to be $250 billion.
Toyota company takes pride in being a family of award-winning and highly energy-efficient automobiles. The company is proud of its capability to provide buyers with the dependability and style of automobiles that they look for in the market for a brand new car, SUV, crossover, and truck.