Toyota About
Toyota Motor Corporation is a multinational corporation headquartered in Japan, and currently is the world’s largest automaker. In terms of name recognition, Toyota is also the only car manufacturer to appear in the top 10 of the BrandZ name recognition ranking.
In 1934, while still a department of Toyota Industries, it created its first product Type A engine and its first passenger car (the Toyota AA) in 1936. The company was founded in 1937 by Kiichiro Toyoda as a spinoff from his father’s company Toyota Industries to create automobiles. Toyota owns and operates Toyota, Lexus, Scion brands and has a majority shareholding in Daihatsu Motors , and has minority shareholdings in Fuji Heavy Industries, Isuzu Motors, and the engine, motorcycle and marine craft manufacturer Yamaha Motors. The company includes 522 subsidiaries.
Toyota is headquartered in Toyota and Nagoya in Aichi Prefecture and in Tokyo. It also provides financial services through its division Toyota Financial Services and also creates robots besides automobiles. The company along with the original Toyota Industries form bulk of the Toyota Group, one of the largest conglomerates in the world.
Company overview
The Toyota Motor Company was awarded its first Japanese Quality Control Award at the start 1970s and began participating in a wide variety of Motorsports. Due to the 1973 oil crisis consumers in the lucrative U.S. market began turning to small cars with better fuel economy. American car manufacturers had considered small economy cars to be an “entry level” product, and their small vehicles were not made to a high level of quality in order to keep the price low. Japanese customers, however, had a long-standing tradition of demanding small fuel-efficient cars that were manufactured to a high level of quality. Because of this, companies like Toyota, Honda, and Nissan established a strong and growing presence in North America in the 1970s.
In 1982, the Toyota Motor Company and Toyota Motor Sales merged into one company, the Toyota Motor Corporation. Two years later, Toyota entered into a joint venture with GM called NUMMI, the New United Motor Manufacturing, Inc, operating an automobile manufacturing plant in Fremont, California. The factory was an old General Motors plant that had been closed for several years. Toyota then started to establish new brands at the end of the 1980s, with the launch of their luxury division Lexus in 1989.
In the 1990s Toyota began to branch out from producing mostly compact cars by adding many larger and more luxurious vehicles to its lineup, including a full sized pickup, the T100 (and later the Toyota Tundra), several lines of SUVs, a sport version of the Camry, known as the Camry Solara, and the Scion brand, a group of several affordable, yet sporty, automobiles targeted specifically to young adults. Toyota also began production of the world’s best selling hybrid car, the Toyota Prius, in 1997.
With a major presence with Europe, due to the success of Toyota Team Europe, the corporation decided to set up TMME, Toyota Motor Europe Marketing & Engineering, to help market vehicles in the continent. Two years later, Toyota set up a base in the United Kingdom, TMUK, as the company’s cars had become very popular among British drivers. Bases in Indiana, Virginia and Tianjin were also set up. In 1999, the company decided to list itself on the New York and London Stock Exchange.
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