Toyota Motor Corporation

Toyota Motor Corporation, Japanese Toyota Jidosha KK is the Japanese parent company of the Toyota Group. It became the largest automobile manufacturer in the world for the first time in 2008. Most of its nearly 600 subsidiary companies are involved in the production of automobiles, automobile parts and commercial and industrial vehicles. Headquarters are in Toyota city, an industrial city east of Nagoya, Japan.
Toyota Motor Corporation began in 1933 as a division of the Toyoda Automatic Loom Works, Ltd. (Later Toyota Industries Corporation, now a subsidiary), and a Japanese manufacturer founded by Toyoda Sakichi. Its first production car, the Model AA Sedan, was released in 1936. The following year the division was incorporated as the Toyota Motor Company, Ltd. An automotive spin-off headed by Toyota Kiichiro, Sakichi’s son. Toyota subsequently established several related companies, including Toyoda Machine Works, Ltd. (1941), and Toyota Auto Body, Ltd. (1945). However, faced with wrecked facilities and a chaotic economy in the aftermath of World War 2, the company was forced to temporarily suspend its automotive production.
By the 1950s Toyota’s automobile production factories were back in operation and to gain competitiveness the company began a careful study of American automobile manufacturers, owing to perceived U.S. technical and economic superiority. Toyota executives toured the production facilities toured the production facilities of corporations, including the Ford Motor Company, to observe the latest automobile manufacturing technology and in turn implemented it in their own facilities, yielding a nearly immediate increase in efficiency.
The company experienced significant growth well into the 21st century, with innovations such as its luxury brand, Lexus (1989), and the first mass-produced hybrid-powered vehicle in the world, the Prius (1997). In 1999 Toyota was listed on both the London Stock Exchange and the New York Stock Exchange. The company continued to expand to new markets-specifically targeting younger buyers with the launch of its Scion brand (2003) and unveiling the world’s first luxury hybrid vehicle, the Lexus RX 400h (2005). However, the company subsequently faced significant financial challenges: plummeting sales stemming from the global financial crisis of 2008 as well as an international safety recall of more than eight million vehicles in 2010, which temporarily halted the production and sales of several of its top models. Beginning in 2014, millions of vehicles manufactured by Toyota and several other car companies were recalled by regulators in the United States because of potentially malfunctioning airbags produced by the Japanese automotive-parts supplier Takata. The recall was “the largest and most complex safety recall in U.S. history”, according to the National Highway Traffic Safety Administration.
Today Toyota has assembly plants and distributors in many countries. In addition to automotive products. Its subsidiaries manufacture rubber and cork materials, steel, synthetic resins, automatic looms and cotton and woolen goods. Other deal in real estate prefabricated housing units and the import and export of raw materials. (Encyclopedia Britannica, 2018).