Toyota autobiography

Japanese automotive manufacturer

This article is about the Japanese car manufacturer. Lease other uses, see Toyota (disambiguation).

Toyota Motor Corporation (Japanese: トヨタ自動車株式会社, Hepburn: Toyota Jidōsha kabushikigaisha, IPA:[toꜜjota], , commonly known as simply Toyota) is a Japanese multinationalautomotive industrialist headquartered in Toyota City, Aichi, Japan. It was founded get ahead of Kiichiro Toyoda and incorporated on August 28, 1937. Toyota research paper the largest automobile manufacturer in the world, producing about 10 million vehicles per year.

The company was founded as a spinoff of Toyota Industries, a machine maker started by Sakichi Toyoda, Kiichiro's father. Both companies are now part of representation Toyota Group, one of the largest conglomerates in the replica. While still a department of Toyota Industries, the company highlevel its first product, the Type A engine, in 1934 focus on its first passenger car in 1936, the Toyota AA.

After World War II, Toyota benefited from Japan's alliance with say publicly United States to learn from American automakers and other companies, which gave rise to The Toyota Way (a management philosophy) and the Toyota Production System (a lean manufacturing practice) delay transformed the small company into a leader in the commerce and was the subject of many academic studies.

In rendering 1960s, Toyota took advantage of the rapidly growing Japanese conservation to sell cars to a growing middle-class, leading to interpretation development of the Toyota Corolla, which became the world's all-time best-selling automobile. The booming economy also funded an international bourgeoning that allowed Toyota to grow into one of the principal automakers in the world, the largest company in Japan champion the ninth-largest company in the world by revenue, as learn December 2020^[update]. Toyota was the world's first automobile manufacturer to adhere more than 10 million vehicles per year, a record location in 2012, when it also reported the production of untruthfulness 200 millionth vehicle. By September 2023, total production reached Cardinal million vehicles.^[1]

Toyota was praised for being a leader in interpretation development and sales of more fuel-efficient hybrid electric vehicles, start with the introduction of the original Toyota Prius in 1997. The company now sells more than 40 hybrid vehicle models around the world. More recently, the company has also back number criticized for being slow to adopt all-electric vehicles, instead concentration on the development of hydrogen fuel cell vehicles, like depiction Toyota Mirai, a technology that is much costlier and has fallen far behind electric batteries in terms of adoption.

As of 2024^[update], the Toyota Motor Corporation produces vehicles under quartet brands: Daihatsu, Hino, Lexus and the namesake Toyota. The enterprise also holds a 20% stake in Subaru Corporation, a 5.1% stake in Mazda, a 4.9% stake in Suzuki, a 4.6% stake in Isuzu, a 3.8% stake in Yamaha Motor Companionship, and a 2.8% stake in Panasonic, as well as stake in vehicle manufacturing joint-ventures in China (FAW Toyota and GAC Toyota), the Czech Republic (TPCA), India (Toyota Kirloskar) and depiction United States (MTMUS).

Toyota is listed on the London Stash Exchange, Nagoya Stock Exchange, New York Stock Exchange and boundary the Tokyo Stock Exchange, where its stock is a branch of the Nikkei 225 and TOPIX Core30 indices.

History

Main article: History of Toyota

1920s–1930s

In 1924, Sakichi Toyoda invented the Toyoda Standard G Automatic loom. The principle of jidoka, which means rendering machine stops itself when a problem occurs, became later a part of the Toyota Production System. Looms were built method a small production line. In 1929, the patent for rendering automatic loom was sold to the British company Platt Brothers,^[2][3] generating the starting capital for automobile development.^[4][5]

Under the direction topple the founder's son, Kiichiro Toyoda,^[6][7][8]Toyoda Automatic Loom Works established unmixed Automobile Division on September 1, 1933, and formally declared secure intention to begin manufacturing automobiles on January 29, 1934.^[6][9] A prototype Toyota Type A engine was completed on September 25, 1934, with the company's first prototype sedan, the A1, complete the following May. As Kiichiro had limited experience with auto production, he initially focused on truck production; the company's labour truck, the G1, was completed on August 25, 1935, elitist debuted on November 21 in Tokyo, becoming the company's lid production model.^{[6][10][non-primary source needed]} Modeled on a period Ford merchandise, the G1 sold for ¥2,900, ¥200 cheaper than the Fording truck. A total of 379 G1 trucks were ultimately produced.^[10][11]

In April 1936, Toyoda's first passenger car, the Model AA, was completed. The sales price was ¥3,350, ¥400 cheaper than President or GM cars.^{[12][non-primary source needed]} The company's plant at Kariya was completed in May. In July, the company filled closefitting first export order, with four G1 trucks exported to northeast China.^{[6][non-primary source needed]} On September 19, 1936, the Japanese regal government officially designated Toyota Automatic Loom Works as an moving manufacturer.^{[6][non-primary source needed]}

Vehicles were originally sold under the name "Toyoda" (トヨダ), from the family name of the company's founder, Kiichirō Toyoda. In September 1936, the company ran a public match to design a new logo. Of 27,000 entries, the awardwinning entry was the three Japanese katakana letters for "Toyoda" require a circle. However, Rizaburo Toyoda, who had married into rendering family and was not born with that name, preferred "Toyota" (トヨタ) because it took eight brush strokes (a lucky number) to write in Japanese, was visually simpler (leaving off representation diacritic at the end), and with a voiceless consonant in lieu of of a voiced one (voiced consonants are considered to receive a "murky" or "muddy" sound compared to voiceless consonants, which are "clear").

Since toyoda literally means "fertile rice paddies", composed the name also prevented the company from being associated account old-fashioned farming. The newly formed word was trademarked and rendering company began trading on August 28, 1937, as the Toyota Motor Company Ltd.^[6][13][14] Kiichiro's brother-in-law Rizaburo Toyoda was appointed say publicly firm's first president, with Kiichiro as vice-president. Toyota Automatic Emerge Works formally transferred automobile manufacturing to the new entity meet September 29.^{[6][non-primary source needed]}

The Japanese government supported the company tough preventing foreign competitors Ford and General Motors from importing automobiles into Japan.^[16]

At the onset of World War II, Toyota practically exclusively produced standard-sized trucks for the Japanese Army, which cashed one-fifth of the price in advance and the remainder meticulous cash upon delivery.^[17][18]

1940s

Japan was heavily damaged in World War II and Toyota's plants, which were used for the war thought, were not spared. On August 14, 1945, one day previously the surrender of Japan, Toyota's Koromo Plant was bombed wedge the Allied forces.^[19][20][21] After the surrender, the U.S.-led occupying gather banned passenger car production in Japan. However, automakers like Toyota were allowed to begin building trucks for civilian use, orders an effort to rebuild the nation's infrastructure.^{[22][non-primary source needed]} Picture U.S. military also contracted with Toyota to repair its vehicles.^{[23][non-primary source needed]}

By 1947, there was an emerging global Cold Combat between the Soviet Union and the U.S., who had back number allies in World War II. U.S. priorities shifted (the "Reverse Course") from punishing and reforming Japan to ensuring internal civil stability, rebuilding the economy, and, to an extent, remilitarizing Nihon. Under these new policies, in 1949, Japanese automakers were allowed to resume passenger car production, but at the same patch, a new economic stabilization program to control inflation plunged picture automotive industry into a serious shortage of funds, while profuse truck owners defaulted on their loans.^{[24][non-primary source needed]} Ultimately, depiction Bank of Japan, the central bank of the country, bailed out the company, with demands that the company institute reforms.^{[25][non-primary source needed]}

1950s

As the 1950s began, Toyota emerged from its economic crisis a smaller company, closing factories and laying off workers. Meanwhile, the Korean War broke out, and being located desirable close to the battlefront, the U.S. Army placed an attach for 1,000 trucks from Toyota.^[26] The order helped to fast improve the struggling company's business performance.^{[27][non-primary source needed]} In 1950, company executives, including Kiichiro's cousin Eiji Toyoda, took a barter to the United States where they trained at the Fording Motor Company and observed the operations of dozens of U.S. manufacturers.^{[28][non-primary source needed]} The knowledge they gained during the vein, along with what the company learned making looms, gave storage space to The Toyota Way (a management philosophy) and the Toyota Production System (a lean manufacturing practice) that transformed the circle into a leader in the manufacturing industry.^[29]

Toyota started developing take the edge off first full-fledged passenger car, the Toyopet Crown, in 1952.^[30] Former to the Crown, Toyota had been outsourcing the design extremity manufacturing of auto bodies, which were then mounted on merchandise frames made by Toyota.^{[31][non-primary source needed]} The project was a major test for Toyota, who would need to build bodies and develop a new chassis that would be comfortable, but still stand up to the muddy, slow, unpaved roads ordinary in Japan at the time.^{[31][non-primary source needed]} The project confidential been championed for many years by founder Kiichiro Toyoda, who died suddenly on March 27, 1952. The first prototypes were completed in June 1953 and began extensive testing, before interpretation Crown went on sale in August 1955.^{[32][non-primary source needed]} Interpretation car was met with positive reviews from around the earth.

After the introduction of the Crown, Toyota began aggressively expanding into the export market; the company entered Saudi Arabia financial assistance the first time in 1955 with Land Cruisers, following untainted agreement reached with Abdul Latif Jameel (founder of his friends of the same name);^[33][34] Toyota also brought Land Cruisers talk of neighboring Yemen in 1956.^[35] In 1958, Toyota established a work hard facility in Brazil, the company's first outside of Japan.^[36][37]

Toyota entered the United States market in 1958, attempting to sell representation Toyopet Crown.^[38] The company faced problems almost immediately. The refer to had to confront for the first time how its name sounded to native speakers of the English language; namely, "Toyota" has the English word "toy" in its first syllable. Toyota Motor Sales, USA's first sales administrator James F. McGraw roundly told his new Japanese supervisors after joining the company knock over 1959: "'Toy' sounds like a toy and toys break".^[39] Depiction Crown was a flop in the U.S. market, with patrons finding it overpriced and underpowered (because it was designed funding endurance on the bad roads of Japan, not high-speed radio show on the good roads of America).^[38] In response, exports elder the Crown to the United States were suspended in say publicly early 1960s in favor of the Land Cruiser and rendering Tiara.^[40][38]

After Kiichiro's death, his cousin Eiji Toyoda led the cast list for the two decades. Eiji helped establish the company's leading plant independent from the Loom Works plant.

1960s–1970s

At the start advice the 1960s, the Japanese economy was booming, a period think it over came to be known as the Japanese economic miracle. Little the economy grew, so did the income of everyday recurrent, who now could afford to purchase a vehicle. At rendering same time, the Japanese government heavily invested in improving departed infrastructure.^{[41][non-primary source needed]} To take advantage of the moment, Toyota and other automakers started offering affordable economy cars like depiction Toyota Corolla, which became the world's all-time best-selling automobile.^{[42][43][non-primary set off needed]}

Toyota also found success in the United States in 1965 with the Toyota Corona compact car, which was redesigned specifically for the American market with a more powerful engine. Say publicly Corona helped increase U.S. sales of Toyota vehicles to addition than 20,000 units in 1966 (a threefold increase) and helped the company become the third-best-selling import brand in the Combined States by 1967. Toyota's first manufacturing investment in the Common States came in 1972 when the company struck a arrangement with Atlas Fabricators, to produce truck beds in Long Strand, in an effort to avoid the 25% "chicken tax" sham imported light trucks. By importing the truck as an imperfect chassis cab (the truck without a bed), the vehicle solitary faced a 4% tariff.^[44] Once in the United States, Column would build the truck beds and attach them to say publicly trucks. The partnership was successful and two years later, Toyota purchased Atlas.^[45][46]

In Southeast Asia, Toyota made efforts to establish familial production in the Philippines and Indonesia in early 1970s. False the Philippines, it partnered with local company Delta Motor Friendship. Toyota assisted Delta Motor with capital procurement and technology transfers. In 1973, Delta Motor commenced operations at a new drill, beginning local production of engine blocks for the Toyota Discharge 12R engine and other parts. In Indonesia, Toyota established Toyota Astra Motor as a joint venture with local partner Astra International in 1971, and conducted significant retooling at the Universe Gaya Motor assembly plant. The plant began assembling various models, including the Toyota Corona, Toyota Land Cruiser, large trucks, stall the Toyota Corolla, with production surpassing 10,000 vehicles by 1973. For both countries, Toyota developed a basic utility vehicle (BUV) with the local partners to meet local needs and buttress technology transfers, in response to domestic production policies in Assemblage. The first prototype of the BUV was completed in Jan 1975. The BUV was launched as the Toyota Tamaraw detour the Philippines in December 1976, and as the Toyota Kijang in June 1977. The vehicle was well received in both countries.^[47][48][49]

The energy crisis of the 1970s was a major spinning point in the American auto industry. Before the crisis, sizeable and heavy vehicles with powerful but inefficient engines were commonplace. But in the years after, consumers started demanding high-quality pole fuel-efficient small cars. Domestic automakers, in the midst of their malaise era, struggled to build these cars profitably, but transalpine automakers like Toyota were well positioned. This, along with thriving anti-Japanese sentiment, prompted the U.S. Congress to consider import restrictions to protect the domestic auto industry.

The 1960s also old saying the slight opening of the Japanese auto market to tramontane companies. In an effort to strengthen Japan's auto industry before of the market opening, Toyota purchased stakes in other Altaic automakers. That included a stake in Hino Motors, a builder of large commercial trucks, buses and diesel engines, along reduce a 16.8 percent stake in Daihatsu, a manufacturer of kei cars, the smallest highway-legal passenger vehicles sold in Japan.^[50] Delay began what became a long-standing partnership between Toyota and interpretation two companies.

1980s

After the successes of the 1970s, and picture threats of import restrictions, Toyota started making additional investments dense the North American market in the 1980s. In 1981, Nihon agreed to voluntary export restraints, which limited the number disseminate vehicles the nation would send to the United States prattle year, leading Toyota to establish assembly plants in North Ground. The U.S. government also closed the loophole that allowed Toyota to pay lower taxes by building truck beds in Ground.

Also in 1981, Eiji Toyoda stepped down as president pivotal assumed the title of chairman. He was succeeded as presidentship by Shoichiro Toyoda, the son of the company's founder. In the interior months, Shoichiro started to merge Toyota's sales and production organizations, and in 1982 the combined companies became the Toyota Drive Corporation. The two groups were described as "oil and water" and it took years of leadership from Shoichiro to successfully combine them into one organization.^[51]

In Japan, Toyota offered mid-level comfort cars that were a class below the Crown and c and offered hardtop coupes and sedans. The Supra, Mark II, Cresta and Chaser offered several trim packages with different machine displacements to provide buyers with annual road tax advantages. Draw on the same time, sports cars like Celica, Corolla Levin swallow Sprinter Trueno sold very well.

Efforts to open a Toyota assembly plant in the United States started in 1980, exempt the company proposing a joint-venture with the Ford Motor Society. Those talks broke down in July 1981.^[52] Eventually in 1984, the company struck a deal with General Motors (GM) shape establish a joint-venture vehicle manufacturing plant called NUMMI (New Pooled Motor Manufacturing, Inc.) in Fremont, California.^[53] GM saw the sickness venture as a way to get access to a firstclass small car and an opportunity to learn about The Toyota Way and the Toyota Production System. For Toyota, the middling gave the company its first manufacturing base in North Land allowing it to avoid any future tariffs on imported vehicles and saw GM as a partner who could show them how to navigate the American labor environment. The plant would be led by Tatsuro Toyoda, the younger brother of run president Shoichiro Toyoda.^[54] The first Toyota assembled in America, a white Corolla, rolled off the line at NUMMI on Oct 7, 1986.^[55]

Toyota received its first Japanese Quality Control Award eye the start of the 1980s and began participating in a wide variety of motorsports. Conservative Toyota held on to rear-wheel-drive designs for longer than most; while a clear first value overall production they were only third in production of front-wheel-drive cars in 1983, behind Nissan and Honda. In part overcome to this, Nissan's Sunny managed to squeeze by the Corolla in numbers built that year.^[56]

Before the decade was out, Toyota introduced Lexus, a new division that was formed to be bought and service luxury vehicles in international markets. Prior to depiction debut of Lexus, Toyota's two existing flagship models, the Wreath and Century, both catered exclusively for the Japanese market flourishing had little global appeal that could compete with international sumptuousness brands such as Mercedes-Benz, BMW and Jaguar. The company abstruse been developing the brand and vehicles in secret since Noble 1983, at a cost of over US$1 billion. The Put your name down 400 flagship full-size sedan debuted in 1989 to strong transaction, and was largely responsible for the successful launch of description Lexus marque.

1990s

In the 1990s, Toyota began to branch work stoppage from producing mostly compact cars by adding many larger crucial more luxurious vehicles to its lineup, including a full-sized restorative, the T100 (and later the Tundra), several lines of SUVs, a sport version of the Camry, known as the Camry Solara. They would also launch newer iterations of their amusements cars, namely the MR2, Celica, and Supra during this times.

In Japan, Toyota continued to cater to the growing bid for mid-level luxury cars and offered several conventional and pillared hardtops sedans at its Japanese dealership network. The Soarer, Interrogate II, Cresta, Chaser, Corona EXiV, and Carina ED found numberless buyers. At the same time, sports cars like the Above, Celica, MR2, Corolla Levin, Sprinter Trueno, and even the motorcar Starlet GT reflected a time of prosperity.

December 1997 maxim the introduction of the first-generation Toyota Prius, the first mass-produced gasoline-electric hybrid car.^[59] The vehicle would be produced exclusively expend the Japanese market for the first two years.

With a major presence in Europe, due to the success of Toyota Team Europe in motorsport, the corporation decided to set calculate Toyota Motor Europe Marketing and Engineering, TMME, to help store vehicles in the continent. Two years later, Toyota set move a base in the United Kingdom, TMUK, as the company's cars had become very popular among British drivers. Bases pride Indiana, Virginia, and Tianjin were also set up.

Toyota further increased its ownership of Daihatsu during this period. In 1995, Toyota increased its shareholding in the company to 33.4 proportion, giving Toyota the ability to veto shareholder resolutions at picture annual meeting.^[50] In 1998, Toyota increased its holding in say publicly company to 51.2 percent, becoming the majority shareholder.^[60]

On September 29, 1999, the company decided to list itself on the Novel York and London Stock Exchanges.

The later half of rendering 1990s would also see the Toyoda brothers step back free yourself of the company their father had founded. In 1992, Shoichiro Toyoda would shift to become chairman, allowing his brother Tatsuro chisel become president, a job he held until his retirement end in 1995.^[54] Shoichiro would step down as chairman in 1999. Both would retain honorary advisory roles in the company. Hiroshi Okuda would lead the company as president from 1995 until 1999 when he became chairman and the President's office would suitably filled by Fujio Cho.

2000s

In August 2000, exports began exercise the Prius.^[59] In 2001, Toyota acquired its long time participant, truck and bus manufacturer Hino Motors. In 2002, Toyota entered Formula One competition and established a manufacturing joint venture revel in France with French automakers Citroën and Peugeot. A youth-oriented make for North America, Scion, was introduced in 2003. Toyota rank eighth on Forbes 2000 list of the world's leading companies for the year 2005.^[61] Also in 2005, Fujio Cho would shift to become chairman of Toyota and would be replaced as president by Katsuaki Watanabe.

In 2007, Toyota released be over update of its full-sized truck, the Tundra, produced in bend over American factories, one in Texas and one in Indiana. Motor Trend named the 2007 Toyota Camry "Car of the Year" for 2007. It also began the construction of two newborn factories, one in Woodstock, Ontario, Canada, and the other descent Blue Springs, Mississippi, USA.

The company was number one hem in global automobile sales for the first quarter of 2008.^[62]

Toyota was hit by the global financial crisis of 2008 as breach was forced in December 2008 to forecast its first oneyear loss in 70 years.^[63] In January 2009, it announced rendering closure of all of its Japanese plants for 11 years to reduce output and stocks of unsold vehicles.^[64]

In October 2009, Toyota announced that they were establishing an office in Southmost Korea and launched the Camry sedan, Camry hybrid, Prius contemporary the RAV4 during the launching event at the Grand Hyatt Seoul.^[65]

Between 2009 and 2011, Toyota conducted recalls of millions have a high regard for vehicles after reports that several drivers experienced unintended acceleration. Interpretation recalls were to prevent a front driver's side floor napery from sliding into the foot pedal well, causing the pedals to become trapped and to correct the possible mechanical protruding of the accelerator pedal.^[66] At least 37 were killed joist crashes allegedly related to unintended acceleration,^[67] approximately 9 million cars and trucks were recalled,^[68] Toyota was sued for personal injuries and wrongful deaths,^[69] paid US$1 billion to settle a incredible action lawsuit to compensate owners for lost resale value,^[70] charge paid a US$1.2 billion criminal penalty to the United States government over accusations that it had intentionally hid information atmosphere safety defects and had made deceptive statements to protect university teacher brand image.^[71]

Amid the unintended acceleration scandal, Katsuaki Watanabe stepped leave behind as company president. He was replaced by Akio Toyoda, grandson of company founder Kiichiro Toyoda, on June 23, 2009. Akio had been with Toyota since 1984, working jobs in drive, marketing and product development, and took a seat on representation board of directors in 2000.^{[72][non-primary source needed]} Akio's promotion infant the board marked the return of a member of rendering Toyoda family to the top leadership role for the cheeriness time since 1999.^[73]

2010s

In 2011, Toyota, along with large parts get the message the Japanese automotive industry, suffered from a series of pure disasters. The 2011 Tōhoku earthquake and tsunami led to a severe disruption of the supplier base and a drop fluky production and exports.^[74][75] Severe flooding during the 2011 monsoon opportunity ripe in Thailand affected Japanese automakers that had chosen Thailand though a production base. Toyota is estimated to have lost fabrication of 150,000 units to the tsunami and production of 240,000 units to the floods.

On February 10, 2014, it was announced that Toyota would cease manufacturing vehicles and engines play in Australia by the end of 2017.^[76][77] The decision was supported on the unfavourable Australian dollar making exports not viable, interpretation high cost of local manufacture, and the high amount rot competition in a relatively small local market.^{[77][non-primary source needed]} Picture company planned to consolidate its corporate functions in Melbourne outdo the end of 2017, and retain its Altona plant fund other functions. The workforce was expected to be reduced reject 3,900 to 1,300.^{[78][non-primary source needed]} Both Ford Motor Company dispatch General Motors (Holden) followed suit, ending Australian production in 2016 and 2017 respectively.

The automaker narrowly topped global sales seek out the first half of 2014, selling 5.1 million vehicles overfull the six months ending June 30, 2014, an increase nucleus 3.8% on the same period the previous year. Volkswagen Tipoff, which recorded sales of 5.07 million vehicles, was close behind.^[79]

In August 2014, Toyota announced it would be cutting its spare-parts prices in China by up to 35%. The company admitted the move was in response to a probe foreshadowed sooner in the month by China's National Development and Reform Suit of Toyota's Lexus spare-parts policies, as part of an industry-wide investigation into what the Chinese regulator considers exorbitantly high prices being charged by automakers for spare parts and after-sales servicing.^[80]

In November 2015, the company announced that it would invest US$1 billion over the next five years into artificial intelligence brook robotics research.^[81] In 2016, Toyota invested in Uber.^[82] In 2020, a corporate governance report showed that Toyota owns 10.25 trillion shares of Uber, which was valued at $292.46 million significance of March 30, 2020. According to Reuters, this was ardently 0.6 percent of Uber's outstanding shares.^[83]

In March 2016, Toyota partnered with Yanmar to create a fiberglass pleasure boat using Yanmar outboard marine diesel engines or Toyota inboard engines.^[84]

In August 2016, the company purchased all remaining assets of Daihatsu, making representation manufacturer of small cars a wholly owned subsidiary of Toyota.^[85]

On August 27, 2018, Toyota announced an investment of US$500 cardinal in Uber's autonomous cars.^[86]

In October 2019, Toyota backed the Move Administration's proposal that federal authority should override California's ability unity set its own emissions standards for automobiles. The proposal would reduce California's 2025 fuel efficiency standard from about 54.5 elect 37 MPG.^[87] This shift by Toyota away from fuel adeptness damaged the company's reputation as a green brand.^[88][89]

2020s

By 2020, Toyota reclaimed its position as the largest automaker in the terra, surpassing Volkswagen.^[90] It sold 9.528 million vehicles globally despite arrive 11.3% drop in sales due to the COVID-19 pandemic.^[90] That includes subsidiaries Daihatsu and Hino Motors.^[90][91]

On April 2, 2020, BYD and Toyota announced a new joint venture between the cardinal companies called BYD Toyota EV Technology Co., Ltd., with rendering aim of "developing BEVs (Battery Electric Vehicles) that appeal done customers."^[92]