Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Toyota Corporation history
Companies and corporations

Toyota Corporation: the main stages of the formation of the brand

09.02.2022
2 min read

How Toyota became the largest corporation in the world

The Japanese corporation Toyota is the world’s largest automobile manufacturer. This brand is invariably associated with quality products, and cars are popular in different countries.
The history of the corporation began in 1933, when a new direction appeared in the textile company Toyoda Automatic Loom Works – automotive. The initiator of this direction was the eldest son of the business owner, Kiichiro Toyoda, thanks to whom the company’s products have become known throughout the world.
The first Toyota car was the Model A1, released in 1935, and a year later appeared a truck Model G1. The latter was the first product line, which was exported – four cars were purchased by Chinese customers. In 1937, the automobile line became a separate business – Toyota Motor.
After the end of World War II, the corporation began to actively rebuild, and in 1947 released the next model of the car. At the same time Toyota was going through a difficult financial situation, which led to disagreements between management and employees. In 1950 there was an employee strike, which was the first and so far the only one in the history of the company. The conflicting sides quickly came to an agreement, after which it was decided to change the corporate policy.Toyota CorporationThe new stage of development was the introduction in 1962 of a unique approach to business management Kanban, which allows optimizing all processes and reducing costs. The changes had their effect, and Toyota was able to increase production volumes and improve product quality.
The first attempt to enter the U.S. market was unsuccessful, but after a while the corporation revised its approach, and in 1965 the Corona model became a leader in popularity among Americans. In addition, Toyota cars through a dealer network were massively sold in African and Asian countries.
In 1966 a new Corolla model came out, which still had huge success worldwide. During the 1970s, Toyota significantly expanded production, built new plants, carried out mergers with other companies. In 1928 the Japanese corporation and American General Motors signed a cooperation agreement and began work on creating joint cars.
At the moment, the corporation is the largest manufacturer of cars, with the brand’s enterprises annually producing about 5.5 million units. Since 2002, Toyota has been developing a new direction – participation in Formula 1 car racing. Its representative offices and plants are located in different countries around the world. After Japan, the main market for the company’s products is the U.S., Asia and Europe come after them. In addition to manufacturing cars and buses, Toyota is engaged in insurance services and real estate transactions.

Tags: Companies and corporations
0
Previous Post How to make high inflation work for yourself: views of the analyst Next Post American businessman Charles Koch: activities and philosophy of life

You Might Also Like

Nestle company
Companies and corporations
How Nestle appeared: the history of the creation and development of the brand
20.04.2022
Costco Wholesale Corporation
Companies and corporations
Costco Wholesale Corporation: how does the largest American retailer operate?
16.03.2021
chemical corporation BASF
Companies and corporations
How BASF became a global leader
05.03.2025
Timberland
Companies and corporations
Timberland: how one of the most popular footwear brands evolved
03.04.2024
KNUTH
Companies and corporations
Development history of the German machine tool manufacturer KNUTH
19.10.2022
Allianz SE
Companies and corporations
The German company Allianz SE: the main stages of development
11.11.2021

Popular Posts

  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics