Category: Automotive History
History Of Toyota Automobile. The Toyota Motor Corporation is an automobile manufacturer of Japan, with headquarters in Toyota in Aichi in Japan. The business is the first automobile manufacturer in the world to manufacture in excess of 10 million vehicles annually. As of the year July 2014, Toyota was the biggest listed corporation in Japan by market capitalization and revenue, with the worth more than two times as that of the second ranked automobile manufacturer, the SoftBank.
History Of Toyota Automobile
The company was established by Kiichiro Toyoda to create automobiles in the year 1937 as a by-product of Toyota Industries, the company, owned by his father. In 1934, though still a department of Toyota Industries, it manufactured its first merchandise, the Type-A engine. Later in 1936, the business manufactured the Toyota AA, the first passenger car of the business, with a selling price of 3,350 yen, which is 400 yen less expensive than GM or Ford cars. At first, vehicles were marketed under the name "Toyoda", the family name of the founder of the corporation.
During September 1936, the business organized a public competition to design a fresh logo. Among 27,000 entries, the pleasing entry was the three katakana letters of Japan for "Toyoda" inside a circle. The newly fashioned word was branded and the business was registered as the Toyota Motor Company in August 1937.
The small-sized cars of Toyota were marketed with the name Toyopet from September 1947. The first car was sold as the Toyopet SA, but it as well, incorporated other automobiles. The Toyota SA was called by the nickname, the Toyopet because of its small size. However, when Toyota finally stepped into the automobile market of America during 1957 with the Toyopet Crown, the name was not well acknowledged because of connotations of pets and toys. Soon, the name was dropped from the market, but it continued in other automobile markets pending the mid-1960s.
The United States had started placing rigid import tariffs on some vehicles by the early 1960s. The professed 1964 "chicken tax" placed a 25% duty on imported light motor vehicles. Toyota, Honda Motor Co. and Nissan Motor Co. started constructing plants in response to the tariff in the country in the early 1980s.
During 1982, the Toyota Motor Corporation was formed by combining the Toyota Motor Company and Toyota Motor Sales. After two years, Toyota stepped into a joint project with General Motors, known as NUMMI, which is the short form of the New United Motor Manufacturing, Inc. It started operating a vehicle-manufacturing plant in Fremont in California. The plant was an old one of General Motors, which had been stopped manufacturing of vehicles for two years. Then, during the last part of the 1980s, Toyota started to set up innovative brands, with the opening of Lexus in 1989, their luxury division.
Toyota started to diverge from manufacturing compact cars in the 1990s by adding several bigger and more comfortable vehicles, such as the T100, the Camry Solara and the Scion brand to its array. It also started manufacturing the best-selling hybrid car of the world, the Prius, in the year 1997. Then, Toyota decided to register itself on the London and New York Stock Exchanges in 1999.
Then in 2001, the Toyo Trust and Banking of Toyota merged with two other banks to shape UFJ Bank. Toyota managed to go into the work group of the Formula One in 2002 and set up joint ventures with the motoring companies of France, such as Peugeot and Citroën. Toyota introduced a modernized full-sized motor vehicle, the Tundra in 2007, manufactured in two American plants, one in Indiana and one in Texas.
In 2011, Toyota, together with great parts of the automotive industry of Japan, suffered from a sequence of natural calamities. It is projected to lose the manufacture of 150,000 vehicles to the tsunami and manufacture of 240,000 vehicles to the floods. Then, Toyota declared a recall of 7.43 million automobiles worldwide in October 2012 to repair faulty power window switches, the major recall since that of the Ford in 1996.
The Toyota Company consisted of 333,498 workers all over the world in 2013. Worldwide, and as of the early 2014, it is the world’s fourteenth-biggest company by revenue. As on date, Toyota manufactures five brands of automobiles, such as the Lexus, Toyota brand, Scion, Hino and Ranz.
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