The Toyota Story
The Toyota Motor Corporation or commonly called as Toyota is presently considered as one of the largest automobile producers in the world in terms of sales and production. However, just like any other companies, it struggled hard for so many years in order to become what it is right now.
Toyota’s history started as a division of the Toyoda Automatic Loom Works, a textile company owned by Sakichi Toyoda. His son, Kiichiro Toyoda, was in charged with the research and development of the said division, which was focused on automobile production. From 1929-1930, he went to the United States and Europe to do further research on vehicle production and gasoline-powered engines. He was then supported by the Japanese government because of military applications due to their was against China. The division produced its first passenger car, the Model A1, in May 1935 using the first Type A Engine. On August of the same year, the G1 truck came out. Since the Model A1 was patronized by many when it first came out, mass production was started in 1936 as a Model AA passenger car.
In 1937, Toyota became a separate and independent company under the name Toyota Motor Corporation or TMC. It is believed that instead of Toyoda, the company was named Toyota due to several reasons. Toyota is much easier to pronounce and gives a separation between the family’s business and home life. Most importantly, the word “Toyota” takes eight strokes in Japanese alphabet which is believed to be lucky.
During the World War II, the company’s demand for military trucks went up, leading to a mass production of them with a design as simple as possible. After the war, Toyota was affected by Japan’s extreme economic crisis and was on the edge of bankruptcy. To address the problem, the company announced wage reductions and mass layoffs which led to the company’s first and only strike that lasted for two months. It was resolved with the resignation of its founder and president, Kiichiro Toyoda, who was then succeeded by the chief executive of Toyoda Automatic Loom Company, Taizo Ishida. By 1960, the company started expanding with a new research and development facility together with a gobal network of design. It joined partnership with Hino Motors and Daihatsu in Thailand, where the 10 millionth model was produced. At the end of the decade, it became famous in the major car markets worldwide, especially in Japan, Europe and North America.
At this moment, Toyota Motor Corporation is considered the third world’s largest automobile manufacturer with a 317,734 employees around the globe. The company is proud to say that its success lies in its goal to be a responsible corporate citizen in every community it operates, and its dedication to give a quality and outstanding product to every customer that puts trust in them.
For every Toyota, there’s a driver and a pink slip. If you’re looking to insure a vehicle you should do homework like Toyota has been doing for nearly a century. Compare quotes, and select the auto insurance policy that best suits your requirements based on risk tolerance and the cost. Insurance rates fluctuate greatly between insurers, so you’re best served by comparing many insurance quotes.