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Revision as of 18:44, 16 December 2024 by Harris7 (talk | contribs) (Undid revision 1263447488 by Harris7 (talk))(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff) Japanese automotive manufacturer This article is about the Japanese car manufacturer. For other uses, see Toyota (disambiguation).This article relies excessively on references to primary sources. Please improve this article by adding secondary or tertiary sources. Find sources: "Toyota" – news · newspapers · books · scholar · JSTOR (December 2023) (Learn how and when to remove this message) |
[REDACTED] Logo used since October 2, 1989 | |
Headquarters in Toyota, Japan | |
Native name | トヨタ自動車株式会社 |
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Romanized name | Toyota Jidōsha kabushikigaisha |
Company type | Public |
Traded as | |
ISIN | JP3633400001 |
Industry | Automotive |
Founded | August 28, 1937; 87 years ago (1937-08-28) |
Founder | Kiichiro Toyoda |
Headquarters | 1 Toyota-chō, Toyota City, Aichi, Japan |
Area served | Worldwide |
Key people |
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Products | Automobiles |
Production output |
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Services | Banking, financing, leasing |
Revenue | ¥45.1 trillion (US$410.89 billion) (2024) |
Operating income | ¥5.35 trillion (US$48.77 billion) (2024) |
Net income | ¥4.94 trillion (US$45.06 billion) (2024) |
Total assets | ¥90.11 trillion (US$821.09 billion) (2024) |
Total equity | ¥35.24 trillion (US$321.09 billion) (2024) |
Owner | Toyota Group through cross ownership:
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Number of employees | 375,235 (FY23) |
Divisions | |
Subsidiaries |
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Website | global |
Toyota Motor Corporation (Japanese: トヨタ自動車株式会社, Hepburn: Toyota Jidōsha kabushikigaisha, IPA: [toꜜjota], English: /tɔɪˈjoʊtə/, commonly known as simply Toyota) is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on August 28, 1937. Toyota is the largest automobile manufacturer in the world, producing about 10 million vehicles per year.
The company was founded as a spinoff of Toyota Industries, a machine maker started by Sakichi Toyoda, Kiichiro's father. Both companies are now part of the Toyota Group, one of the largest conglomerates in the world. 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.
After 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.
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. 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. 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. By September 2023, total production reached 300 million vehicles.
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 original Toyota Prius in 1997. The company now sells more than 40 hybrid vehicle models around the world. More recently, the company has also been criticized for being slow to adopt all-electric vehicles, instead focusing on the development of hydrogen fuel cell vehicles, like the Toyota Mirai, a technology that is much costlier and has fallen far behind electric batteries in terms of adoption.
As of 2024, the Toyota Motor Corporation produces vehicles under four brands: Daihatsu, Hino, Lexus and the namesake Toyota. The company also holds a 20% stake in Subaru Corporation, a 5.1% stake in Mazda, a 4.9% stake in Suzuki, a 4.6% stake in Isuzu, a 3.8% stake in Yamaha Motor Corporation, and a 2.8% stake in Panasonic, as well as stakes in vehicle manufacturing joint-ventures in China (FAW Toyota and GAC Toyota), the Czech Republic (TPCA), India (Toyota Kirloskar) and the United States (MTMUS).
Toyota is listed on the London Stock Exchange, Nagoya Stock Exchange, New York Stock Exchange and on the Tokyo Stock Exchange, where its stock is a component of the Nikkei 225 and TOPIX Core30 indices.
History
Main article: History of Toyota1920s–1930s
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In 1924, Sakichi Toyoda invented the Toyoda Model G Automatic loom. The principle of jidoka, which means the machine stops itself when a problem occurs, became later a part of the Toyota Production System. Looms were built on a small production line. In 1929, the patent for the automatic loom was sold to the British company Platt Brothers, generating the starting capital for automobile development.
Under the direction of the founder's son, Kiichiro Toyoda, Toyoda Automatic Loom Works established an Automobile Division on September 2, 1933, and formally declared its intention to begin manufacturing automobiles on January 29, 1934. A prototype Toyota Type A engine was completed on September 25, 1934, with the company's first prototype sedan, the A1, completed the following May. As Kiichiro had limited experience with automobile production, he initially focused on truck production; the company's first truck, the G1, was completed on August 25, 1935, and debuted on November 21 in Tokyo, becoming the company's first production model. Modeled on a period Ford truck, the G1 sold for ¥2,900, ¥200 cheaper than the Ford truck. A total of 379 G1 trucks were ultimately produced.
In April 1936, Toyoda's first passenger car, the Model AA, was completed. The sales price was ¥3,250, ¥500 cheaper than Ford or GM cars. The company's plant at Kariya was completed in May. In July, the company filled its first export order, with four G1 trucks exported to northeastern China. On September 19, 1936, the Japanese imperial government officially designated Toyota Automatic Loom Works as an automotive manufacturer.
Vehicles were originally sold under the name "Toyoda" (トヨダ), from the family name of the company's founder, Kiichirō Toyoda. In late September 1936, the company ran a public competition to design a new logo. Of 27,000 entries, the winning entry was the three Japanese katakana letters for "Toyoda" in a circle. However, Rizaburo Toyoda, who had married into the family and was not born with that name, preferred "Toyota" (トヨタ) because it took eight brush strokes (a lucky number) to write in Japanese, was visually simpler (leaving off the diacritic at the end), and with a voiceless consonant instead of a voiced one (voiced consonants are considered to have a "murky" or "muddy" sound compared to voiceless consonants, which are "clear").
Since toyoda literally means "fertile rice paddies", changing the name also prevented the company from being associated with old-fashioned farming. The newly formed word was trademarked and the company began trading on August 27, 1937, as the Toyota Motor Company Ltd. Kiichiro's brother-in-law Rizaburo Toyoda was appointed the firm's first president, with Kiichiro as vice-president. Toyota Automatic Loom Works formally transferred automobile manufacturing to the new entity on September 29.
The Japanese and Taiwanese government supported the company by preventing foreign competitors Ford and General Motors from importing automobiles into Japan and Taiwan.
At the onset of World War II, Toyota almost exclusively produced standard-sized trucks for the Japanese Military, which paid one-fourth of the price in advance and the remainder in cash upon delivery.
1940s
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Japan was heavily damaged in World War II and Toyota's plants, which were used for the war effort, were not spared. On August 14, 1945, one day before the surrender of Japan, Toyota's Koromo Plant was bombed by the Allied forces. After the surrender, the U.S.-led occupying forces banned passenger car production in Japan. However, automakers like Toyota were allowed to begin building trucks for civilian use, in an effort to rebuild the nation's infrastructure. The U.S. military also contracted with Toyota to repair its vehicles.
By 1947, there was an emerging global Cold War between the Soviet Union and the U.S., who had been allies in World War II. U.S. priorities shifted (the "Reverse Course") from punishing and reforming Japan to ensuring internal political stability, rebuilding the economy, and, to an extent, remilitarizing Japan. Under these new policies, in 1949, Japanese automakers were allowed to resume passenger car production, but at the same time, a new economic stabilization program to control inflation plunged the automotive industry into a serious shortage of funds, while many truck owners defaulted on their loans. Ultimately, the Bank of Japan, the central bank of the country, bailed out the company, with demands that the company institute reforms.
1950s
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As the 1950s began, Toyota emerged from its financial crisis a smaller company, closing factories and laying off workers. Meanwhile, the Korean War broke out, and being located so close to the battlefront, the U.S. Army placed an order for 1,000 trucks from Toyota. The order helped to rapidly improve the struggling company's business performance. In 1950, company executives, including Kiichiro's cousin Eiji Toyoda, took a trip to the United States where they trained at the Ford Motor Company and observed the operations of dozens of U.S. manufacturers. The knowledge they gained during the trip, along with what the company learned making looms, gave rise to The Toyota Way (a management philosophy) and the Toyota Production System (a lean manufacturing practice) that transformed the company into a leader in the manufacturing industry.
Toyota started developing its first full-fledged passenger car, the Toyopet Crown, in 1952. Prior to the Crown, Toyota had been outsourcing the design and manufacturing of auto bodies, which were then mounted on truck frames made by Toyota. The project was a major test for Toyota, who would need to build bodies and develop a new chassis that would be comfortable, but still stand up to the muddy, slow, unpaved roads common in Japan at the time. The project had been championed for many years by founder Kiichiro Toyoda, who died suddenly on March 27, 1952. The first prototypes were completed in June 1953 and began extensive testing, before the Crown went on sale in August 1955. The car was met with positive reviews from around the world.
After the introduction of the Crown, Toyota began aggressively expanding into the export market; the company entered Saudi Arabia for the first time in 1955 with Land Cruisers, following an agreement reached with Abdul Latif Jameel (founder of his company of the same name); Toyota also brought Land Cruisers into neighboring Yemen in 1956. In 1958, Toyota established a production facility in Brazil, the company's first outside of Japan.
Toyota entered the United States market in 1958, attempting to sell the Toyopet Crown. The company faced problems almost immediately. The company had to confront for the first time how its name sounded to native speakers of the English language; namely, "Toyota" has the English word "toy" in its first syllable. Toyota Motor Sales, USA's first sales administrator James F. McGraw bluntly told his new Japanese supervisors after joining the company in 1959: "'Toy' sounds like a toy and toys break". The Crown was a flop in the U.S. market, with buyers finding it overpriced and underpowered (because it was designed for endurance on the bad roads of Japan, not high-speed performance on the good roads of America). In response, exports of the Crown to the United States were suspended in the early 1960s in favor of the Land Cruiser and the Tiara.
After Kiichiro's death, his cousin Eiji Toyoda led the company for the two decades. Eiji helped establish the company's first plant independent from the Loom Works plant.
1960s–1970s
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At the start of the 1960s, the Japanese economy was booming, a period that came to be known as the Japanese economic miracle. As the economy grew, so did the income of everyday people, who now could afford to purchase a vehicle. At the same time, the Japanese government heavily invested in improving road infrastructure. To take advantage of the moment, Toyota and other automakers started offering affordable economy cars like the Toyota Corolla, which became the world's all-time best-selling automobile.
Toyota also found success in the United States in 1965 with the Toyota Corona compact car, which was redesigned specifically for the American market with a more powerful engine. The Corona helped increase U.S. sales of Toyota vehicles to more than 20,000 units in 1966 (a threefold increase) and helped the company become the third-best-selling import brand in the United States by 1967. Toyota's first manufacturing investment in the United States came in 1972 when the company struck a deal with Atlas Fabricators, to produce truck beds in Long Beach, in an effort to avoid the 25% "chicken tax" on imported light trucks. By importing the truck as an incomplete chassis cab (the truck without a bed), the vehicle only faced a 4% tariff. Once in the United States, Atlas would build the truck beds and attach them to the trucks. The partnership was successful and two years later, Toyota purchased Atlas.
In Southeast Asia, Toyota made efforts to establish domestic production in the Philippines and Indonesia in early 1970s. In the Philippines, it partnered with local company Delta Motor Corporation. Toyota assisted Delta Motor with capital procurement and technology transfers. In 1973, Delta Motor commenced operations at a new plant, beginning local production of engine blocks for the Toyota Corona 12R engine and other parts. In Indonesia, Toyota established Toyota Astra Motor as a joint venture with local partner Astra International in 1971, and conducted significant retooling at the PT Gaya Motor assembly plant. The plant began assembling various models, including the Toyota Corona, Toyota Land Cruiser, large trucks, and the Toyota Corolla, with production surpassing 10,000 vehicles by 1973. For both countries, Toyota developed a basic utility vehicle (BUV) with the local partners to meet local needs and support technology transfers, in response to domestic production policies in Asia. The first prototype of the BUV was completed in January 1975. The BUV was launched as the Toyota Tamaraw in the Philippines in December 1976, and as the Toyota Kijang in June 1977. The vehicle was well received in both countries.
The energy crisis of the 1970s was a major turning point in the American auto industry. Before the crisis, large and heavy vehicles with powerful but inefficient engines were common. But in the years after, consumers started demanding high-quality and fuel-efficient small cars. Domestic automakers, in the midst of their malaise era, struggled to build these cars profitably, but foreign automakers like Toyota were well positioned. This, along with growing anti-Japanese sentiment, prompted the U.S. Congress to consider import restrictions to protect the domestic auto industry.
The 1960s also saw the slight opening of the Japanese auto market to foreign companies. In an effort to strengthen Japan's auto industry ahead of the market opening, Toyota purchased stakes in other Japanese automakers. That included a stake in Hino Motors, a manufacturer of large commercial trucks, buses and diesel engines, along with a 16.8 percent stake in Daihatsu, a manufacturer of kei cars, the smallest highway-legal passenger vehicles sold in Japan. That began what became a long-standing partnership between Toyota and the two companies.
1980s
After the successes of the 1970s, and the threats of import restrictions, Toyota started making additional investments in the North American market in the 1980s. In 1981, Japan agreed to voluntary export restraints, which limited the number of vehicles the nation would send to the United States each year, leading Toyota to establish assembly plants in North America. The U.S. government also closed the loophole that allowed Toyota to pay lower taxes by building truck beds in America.
Also in 1981, Eiji Toyoda stepped down as president and assumed the title of chairman. He was succeeded as president by Shoichiro Toyoda, the son of the company's founder. Within months, Shoichiro started to merge Toyota's sales and production organizations, and in 1982 the combined companies became the Toyota Motor Corporation. The two groups were described as "oil and water" and it took years of leadership from Shoichiro to successfully combine them into one organization.
In Japan, Toyota offered mid-level luxury cars that were a class below the Crown and Century and offered hardtop coupes and sedans. The Supra, Mark II, Cresta and Chaser offered several trim packages with different engine displacements to provide buyers with annual road tax advantages. At the same time, sports cars like Celica, Corolla Levin and Sprinter Trueno sold very well.
Efforts to open a Toyota assembly plant in the United States started in 1980, with the company proposing a joint-venture with the Ford Motor Company. Those talks broke down in July 1981. Eventually in 1984, the company struck a deal with General Motors (GM) to establish a joint-venture vehicle manufacturing plant called NUMMI (New United Motor Manufacturing, Incia}} | style="text-align:right;" |327,675 |- !6 | Thailand | style="text-align:right;" |265,949 |- !7 | Australia | style="text-align:right;" |230,439 |- !8 | Canada | style="text-align:right;" |227,460 |- !9 | India | style="text-align:right;" |222,069 |- !10 | Philippines | style="text-align:right;" |200,031 |}
Outside of Japan, as one of the world's largest automotive manufacturer by production volume, Toyota has factories in most parts of the world. The company assembles vehicles in Argentina, Belgium, Brazil, Canada, Colombia, the Czech Republic, France, Indonesia, Mexico, the Philippines, Poland, Russia, South Africa, Thailand, Turkey, the United Kingdom, the United States, and Venezuela.
Additionally, the company also has joint venture, licensed, or contract factories in China, France, India, Malaysia, Pakistan, Taiwan, the United States, and Vietnam.
North America
Main article: Toyota Motor North AmericaToyota Motor North America is headquartered in Plano, Texas, and operates as a holding company for all operations of the Toyota Motor Corporation in Canada, Mexico, and the United States. Toyota's operations in North America began on October 31, 1957, and the current company was established in 2017 from the consolidation of three companies: Toyota Motor North America, Inc., which controlled Toyota's corporate functions; Toyota Motor Sales, U.S.A., Inc. which handled marketing, sales, and distribution in the United States; and Toyota Motor Engineering & Manufacturing North America which oversaw operations at all assembly plants in the region. While all three companies continue to exist in legal name, they operate as one company out of one headquarters campus.
Toyota has a large presence in the United States with six major assembly plants in Huntsville, Alabama, Georgetown, Kentucky, Princeton, Indiana, San Antonio, Texas, Buffalo, West Virginia, and Blue Springs, Mississippi. In 2018, Toyota and Mazda announced a joint venture plant that will produce vehicles in Huntsville, Alabama, starting in 2021.
It has started producing larger trucks, such as the new Tundra, to go after the full-size pickup market in the United States. Toyota is also pushing hybrid electric vehicle in the US such as the Prius, Camry Hybrid, Highlander Hybrid, and various Lexus products. Toyota never introduced diesel motor options in its North American products, including pickup trucks.
Toyota Canada Inc., which is part of Toyota Motor North America, handles marketing, sales, and distribution in Canada. Toyota Motor Manufacturing Canada operates three assembly plants: two in Cambridge, Ontario and one in Woodstock, Ontario. In 2006, Toyota's subsidiary Hino Motors opened a heavy duty truck plant, also in Woodstock, employing 45 people and producing 2,000 trucks annually.
Europe/Western Asia
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Top 10 Toyota and Lexus vehicle production by country, 2023 | ||
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Rank in Toyota |
Location | Vehicle production |
1 | Japan | 3,370,752 |
2 | China | 1,752,748 |
3 | United States | 1,229,516 |
4 | Thailand | 621,156 |
5 | Canada | 525,787 |
6 | India | 328,776 |
7 | Indonesia | 278,141 |
8 | France | 271,745 |
9 | Mexico | 250,013 |
10 | Brazil | 212,389 |
Toyota Motor Europe is headquartered in Brussels, Belgium, and oversees all operations of the Toyota Motor Corporation in Europe and western Asia. Toyota's operations in Europe began in 1963. Toyota has a significant presence in Europe with nine production facilities in Kolín, Czech Republic, Burnaston, England, Deeside, England, Onnaing, France, Jelcz-Laskowice, Poland, Wałbrzych, Poland, Ovar, Portugal, Saint Petersburg, Russia, and Arifiye, Turkey. Toyota also operates a joint venture plant with Citroën and Peugeot in Valenciennes, France.
Australia
Main article: Toyota AustraliaIn 1963, Australia was one of the first countries to assemble Toyotas outside Japan. However, in February 2014, Toyota was the last of Australia's major automakers to announce the end of production in Australia. The closure of Toyota's Australian plant was completed on October 3, 2017, and had produced a total 3,451,155 vehicles. At its peak in October 2007, Toyota manufactured 15,000 cars a month. Before Toyota, Ford and GM's Holden had announced similar moves, all citing an unfavorable currency and attendant high manufacturing costs.
Company strategy
The Toyota Way
Main article: The Toyota WayThe Toyota Way is a set of principles and behaviors that underlie the company's approach to management and production (which is further defined as the Toyota Production System).
The company has been developing its corporate philosophy since 1948 and passing it on as implicit knowledge to new employees, but as the company expanded globally, leaders officially identified and defined the Toyota Way in 2001. Toyota summarized it under two main pillars: continuous improvement and respect for people. Under the continuous improvement pillar are three principles: challenge (form a long-term vision), kaizen (a continual improvement process), and genchi genbutsu ("go and see" the process to make correct decisions). Under the respect for people pillar are two principles: respect and teamwork.
In 2004, Dr. Jeffrey Liker, a University of Michigan professor of industrial engineering, published The Toyota Way. In his book, Liker calls the Toyota Way "a system designed to provide the tools for people to continually improve their work." According to Liker, there are 14 principles of The Toyota Way that can be organized into four themes: (1) long-term philosophy, (2) the right process will produce the right results, (3) add value to the organization by developing your people, and (4) continuously solving root problems drives organizational learning. The 14 principles are further defined in the Misplaced Pages article on The Toyota Way.
Toyota Production System
Main article: Toyota Production SystemThe Toyota Way also helped shape the company's approach to production, where it was an early pioneer of what would become known as lean manufacturing. The company defines the Toyota Production System under two main pillars: just-in-time (make only what is needed, only when it is needed, and only in the amount that is needed) and Jidoka (automation with a human touch).
The origin of the Toyota Production System is in dispute, with three stories of its origin: (1) that during a 1950 trip to train with the Ford Motor Company, company executives also studied the just-in-time distribution system of the grocery store company Piggly-Wiggly, (2) that they followed the writings of W. Edwards Deming, and (3) they learned the principles from a WWII US government training program (Training Within Industry).
After developing the Toyota Production System in its own facilities, the company began teaching the system to its parts suppliers in the 1990s. Other companies were interested in the instruction, and Toyota later started offering training sessions. The company also has donated the training to non-profit groups to increase their efficiency and thus ability to serve people.
Logo and branding
In 1936, Toyota entered the passenger car market with its Model AA and held a competition to establish a new logo emphasizing speed for its new product line. After receiving 27,000 entries, one was selected that additionally resulted in a change of its moniker to "Toyota" from the family name "Toyoda", which means rice paddy. The new name was believed to sound better, and its eight-stroke count in the Japanese language was associated with wealth and good fortune. The original logo was a heavily stylized version of the katakana characters for Toyota (トヨタ).
As the company started to expand internationally in the late 1950s, the katakana character logo was supplemented by various wordmarks with the English form of the company name in all capital letters, "TOYOTA."
Toyota introduced a worldwide logo in October 1989 to commemorate the 50th year of the company, and to differentiate it from the newly released luxury Lexus brand. The logo consists of three ovals that combine to form the letter "T", which stands for Toyota. Toyota says that the overlapping of the two perpendicular ovals inside the larger oval represents the mutually beneficial relationship and trust between the customer and the company while the larger oval surrounding both of these inner ovals represents the "global expansion of Toyota's technology and unlimited potential for the future". The new logo started appearing on all printed material, advertisements, dealer signage, and most vehicles in 1990.
In countries or regions using traditional Chinese characters, e.g. Hong Kong and Taiwan, Toyota is known as "豐田". In countries using simplified Chinese characters (e.g. China and Singapore), Toyota is written as "丰田" (pronounced as Fēngtián in Mandarin Chinese and Hɔng Tshan in Minnanese). These are the same characters as the founding family's name "Toyoda" in Japanese.
Toyota still uses the katakana character logo as its corporate emblem in Japan, including on the headquarters building, and some special edition models still use the "TOYOTA" wordmark on the grille as a nod to the company's heritage.
On July 15, 2015, the company was delegated its own generic top-level domain, .toyota.
Sport sponsorships
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Toyota sponsors several teams and has purchased naming rights for several venues, and even competitions, including:
- Toyota Alvark Tokyo, basketball team
- Toyota Arena, Ontario, California
- Toyota Cup
- Toyota Center, Houston, Texas
- Toyota Center, Kennewick, Washington
- Toyota Field, San Antonio, Texas
- Toyota Park, Bridgeview, Illinois
- Toyota Sports Center, El Segundo, California
- Toyota Stadium, Georgetown, Kentucky
- Toyota Stadium, Frisco, Texas
As of 2017, Toyota is an official sponsor of Cricket Australia, the England and Wales Cricket Board and the Australian Football League.
In March 2015, Toyota became a sponsor for the Olympic Games and Paralympic Games in the form of supplying vehicles and communications between vehicles, starting in 2018. In May 2024, Toyota announced that it will not be extending the contract after the 2024 games in Paris, due the company reportedly being unhappy with how the IOC has used its sponsorship money. Toyota hopes to retain its contract with the International Paralympic Committee.
Toyota had previously sponsored football clubs Fortuna Köln (1998–2000), Valencia (2003–2008), Fiorentina (1999–2002 and 2004–2010), Perugia (2002–2004), Catania (2003–2004) and Valenciennes (2005–2012).
See also
- Automotive industry in Japan
- List of Toyota engines
- List of Toyota manufacturing facilities
- List of Toyota transmissions
- List of Toyota vehicles
- Nagoya Grampus, formerly the company's football club and still sponsored by them
- Toyota model codes
- Toyota Verblitz, the company's rugby team
- Toyota War, a conflict between Libya and Chad which saw a heavy use of Toyota's pickup trucks.
Notes
- The logo's wordmark has been in use since October 1977.
References
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Moreover, during the war, Toyota manufactured standard-sized trucked almost exclusively for the army, which paid one-fourth of the price in advance and the balance in cash on delivery.
- "Toyota Motor Corporation". Encyclopaedia Britannica. June 14, 2023.
During World War II the company suspended production of passenger cars and concentrated on trucks
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Bibliography
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- May, Matthew E. (2006). The Elegant Solution: Toyota's Formula for Mastering Innovation. New York: Free Press. ISBN 0-7432-9017-8.
External links
- Official website
- Business data for Toyota Motor Corp:
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