World's Largest Automobile Manufacturer, world record set by Toyota

November 26, 2024

Toyota City, Aichi, Japan--Toyota Motor Corporation, commonly known as Toyota (TYO: 7203; NAG: 7203; NYSE: TM; LSE: TYT), a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan, was founded by Kiichiro Toyoda; producing about 10 million vehicles per year, it sets the world record for being the World's Largest Automobile Manufacturer, according to the WORLD RECORD ACADEMY.

"Toyota Motor Corporation, 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. (Wikipedia)

"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."

"As of 2024, the Toyota Motor Corporation produces vehicles under four brands: Daihatsu, Hino, Lexus and the namesake Toyota.

"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." (Wikipedia)

"Toyota Motor Corp. engages in the manufacture and sale of motor vehicles and parts. It operates through the following segments: Automotive, Financial Services, and All Others," the Forbes says.

"The Automotive segment designs, manufactures, assembles and sells passenger cars, minivans, trucks, and related vehicle parts and accessories. It is also involved in the development of intelligent transport systems.

"The Financial Services segment offers purchase or lease financing to Toyota vehicle dealers and customers. It also provides retail leasing through lease contracts purchase by dealers."

"Although second by revenue, Toyota Motor Corporation is the largest car company in the world based on vehicles sold. And getting to a mind-blowing 10.5 million units per year doesn’t happen by accident," the Luxe Digital says.

"Toyota recently unveiled a facility dedicated to battery electric vehicle (BEV) development and next-gen battery research. By 2026, two all-new BEV SUVs will be made in the US, coming with affordable pricing and impressive ranges stretching over 500 miles (800 km).

"This company sits behind the logo of four different brands: its namesake, Toyota, Daihatsu, and Hino, and the distinguished luxury brand Lexus. The Toyota Motor Corporation also has minority stakes in other automotive manufacturers, including Subaru, Volvo, and Mazda."

"Toyota Motor (7203.T), opens new tab retained its crown as the world's top-selling automaker for the fourth consecutive year after posting record annual sales of 11.2 million vehicles in 2023, though its chairman apologised on Tuesday for scandals at three group companies," the Reuters says.

"The Japanese automaker reported a 7.2% jump in global group sales last year, including those at small-car maker Daihatsu and truck unit Hino Motors (7205.T), opens new tab."

"The Japanese manufacturer said Tuesday it had sold a record 11.2 million vehicles worldwide in 2023, including its Daihatsu and Hino lineups. That represented an increase of 7.2% versus the previous year," the CNN reports.

"Warren Buffett-backed BYD has generated a lot of buzz lately after it surpassed Tesla as the world’s biggest seller of electric vehicles (EVs) at the end of last year.

"That compared with 104,000 battery-powered vehicles sold by Toyota, which has long lagged behind in the global EV race. The company, which is a leader of hybrid cars, sold 3.7 million electric vehicles total in 2023 when including hybrids."

"Toyota Motor Corporation, Japanese parent company of the Toyota Group. It became the largest automobile brand and manufacturer in the world for the first time in 2008, surpassing General Motors," the Britannica says.

"Many of its about 1,000 subsidiary companies and affiliates are involved in the production of automobiles, automobile parts, and commercial and industrial vehicles. Headquarters are in Toyota City, an industrial city east of Nagoya, Japan.

"In 2023, the ranking of the world’s largest car brands was topped by Toyota with a market share of around 10.7 percent. The Toyota brand is owned by Japan's Toyota Motor Corporation, the world's largest motor vehicle manufacturer," the Statista says.

"In light of growing environmental awareness and increasing efforts to connect vehicles, automotive manufacturers are faced with a variety of new challenges. Market trends such as the shift to lighter materials, as well as the trend towards electric and autonomous vehicles are set to revolutionize the industry."