The Corolla, which went on sale in 1966, became Japan's most popular family car. By 1974, Corolla had become the largest selling car in the world, and a decade later, Toyota ranked second only to GM in the total number of cars produced. By the end of the 1980s, Toyota began building new brands and the luxury division, Lexus, was launched. "
After some setbacks in the early 1990s, the company began to grow further by focusing on international expansion and localization of production. In 1999, besides increasing the number of manufacturing centers and expanding sales networks worldwide, Toyota focused on localizing design, development, and purchasing in every country. Toyota propagated the Toyota Production System and its unique corporate culture, ‘The Toyota Way', throughout its global manufacturing units.
During the 2000s, Toyota registered strong sales in the US and Japan. In 2001, the company started two new plants in Europe and in 2002 it established a plant in Turkey to manufacture Corolla sedans for export markets.In April 2002, Toyota announced a new corporate strategy ‘2010 Global Vision' to achieve a 15% market share of the global automobile market by early 2010. By mid-2003,
Toyota had a presence in almost all the major segments of the automobile market that included small cars, luxury sedans, full-sized pickup trucks, SUVs, small trucks, and crossover vehicles. In the first quarter of 2007, Toyota replaced GM as the world's leading automaker, breaking the latter's 77-year reign. Based on market capitalization, Toyota was valued at almost 12 times GM's value. ...
The Corolla, which went on sale in 1966, became Japan's most popular family car. By 1974, Corolla had become the largest selling car in the world, and a decade later, Toyota ranked second only to GM in the total number of cars produced. By the end of the 1980s, Toyota began building new brands and the luxury division, Lexus, was launched. "
After some setbacks in the early 1990s, the company began to grow further by focusing on international expansion and localization of production. In 1999, besides increasing the number of manufacturing centers and expanding sales networks worldwide, Toyota focused on localizing design, development, and purchasing in every country. Toyota propagated the Toyota Production System and its unique corporate culture, ‘The Toyota Way', throughout its global manufacturing units.
During the 2000s, Toyota registered strong sales in the US and Japan. In 2001, the company started two new plants in Europe and in 2002 it established a plant in Turkey to manufacture Corolla sedans for export markets.In April 2002, Toyota announced a new corporate strategy ‘2010 Global Vision' to achieve a 15% market share of the global automobile market by early 2010. By mid-2003,
Toyota had a presence in almost all the major segments of the automobile market that included small cars, luxury sedans, full-sized pickup trucks, SUVs, small trucks, and crossover vehicles. In the first quarter of 2007, Toyota replaced GM as the world's leading automaker, breaking the latter's 77-year reign. Based on market capitalization, Toyota was valued at almost 12 times GM's value. ...