Toyota Motor Corporation

Toyota Motor Corporation History

▪ Toyota Motor Corporation began in 1933 as a division of the Toyoda Automatic Loom Works,
Ltd.,a Japanese manufacturer founded by Toyoda Sakichi.
▪ Its first production car, the Model AA sedan, was released in 1936.
▪ 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 II, the company was forced to temporarily
suspend its automotive production.
 Toyota Motor Corporation History

▪ 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 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.
▪ In 1957 Toyota Motor Sales, U.S.A., Inc., was established, and the following year the company
released the Toyopet sedan, its first model to be marketed in the United States.
 Toyota Motor Corporation History

▪ During the 1960s and ’70s the company expanded at a rapid rate and began exporting large
numbers of automobiles to foreign markets.
▪ Toyota acquired such companies as Hino Motors, Ltd. (1966), a manufacturer of buses and large
trucks; Nippondenso Company, Ltd., a maker of electrical auto components; and Daihitsu Motor
Company, Ltd. (1967).
▪ For several decades Toyota was Japan’s largest automobile manufacturer. The company
continued to thrive in the American market as well, gaining a reputation for its low-cost, fuel-
efficient, and reliable vehicles such as the Corolla, which was released in the United States in
1968.
 Toyota Motor Corporation History

▪ The company took its present name in 1982, when Toyota Motor Company was merged with
Toyota Motor Sales Company, Ltd.
▪ Two years later Toyota partnered with General Motors Corporation in the creation of New United
Motor Manufacturing, Inc., a dual-brand manufacturing plant in California, where Toyota began
U.S. production in 1986.
▪ 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).
 Toyota Motor Corporation History

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. Others deal in real estate, prefabricated
housing units, and the import and export of raw materials.
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