The company now sells more than 40 hybrid vehicle models around the world. Toyota was praised for being a leader in the development and sales of more fuel-efficient hybrid electric vehicles, starting with the introduction of the Toyota Prius in 1997. Toyota was the world's first automobile manufacturer to produce more than 10 million vehicles per year, a record set in 2012, when it also reported the production of its 200 millionth vehicle.

The booming economy also funded an international expansion that allowed Toyota to grow into one of the largest automakers in the world, the largest company in Japan and the ninth-largest company in the world by revenue, as of December 2020. In the 1960s, Toyota took advantage of the rapidly growing Japanese economy to sell cars to a growing middle-class, leading to the development of the Toyota Corolla, which became the world's all-time best-selling automobile. While still a department of Toyota Industries, the company developed its first product, the Type A engine, in 1934 and its first passenger car in 1936, the Toyota AA.Īfter World War II, Toyota benefited from Japan's alliance with the 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) that transformed the small company into a leader in the industry and was the subject of many academic studies.

Both companies are now part of the Toyota Group, one of the largest conglomerates in the world. The company was originally founded as a spinoff of Toyota Industries, a machine maker started by Sakichi Toyoda, Kiichiro's father. Toyota is one of the largest automobile manufacturers in the world, producing about 10 million vehicles per year.

It was founded by Kiichiro Toyoda and incorporated on August 28, 1937 ( ). Toyota Motor Corporation ( Japanese: トヨタ自動車株式会社, Hepburn: Toyota Jidōsha kabushikigaisha, IPA:, English: / t ɔɪ ˈ j oʊ t ə/, commonly known as simply Toyota) is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. Toyota Motor Manufacturing Indonesia (95%)įiscal Year 2021 (FY21) is April 1, 2020, to March 31, 2021.

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