Deciding the richest car producing company is gonna to be hard. As all car producing companies compete with themselves with a new and spectacular model of cars every year. Though when considering their net-worth, the difference is clear enough for anyone to know. Based on the reports and records offered to the masses.
Even though its been really challenging as they keep trying their best to come out to the top. Toyota Motor Corp still has the upper hand as the richest car producing company.
History Of The Richest Car Producing Company (Toyota)
Toyota Motor Corporation is a Japanese automobile manufacturer. It is a multinational company and has its headquarters in Toyota Aichi, Japan.
Toyota company was founded by Kiichiro Toyoda in 1933. This was as a division the Toyoda Automatic Loom Works, Ltd. Which was later called Toyota industries Corporation. It was a Japanese manufacturer founded by Toyoda Sikachi his father.
It released its first-ever production car, the Model AA sedan which was released in 1936. They later incorporated the division to Toyota Motor Company, Ltd the following year.
And it was headed by Kiichiro. They changed the Company’s name to Toyota which was more pleasing in Japanese.
They later established more related companies which include the Toyoda Machine Works, Ltd. Which was in 1941, and Toyota Auto Body, Ltd. Which was in 1945.
The company later concentrated on the production of trucks. As they suspended the production of passenger trucks during the second world war.
They were later faced with an extreme financial challenge. As the company nearly went into bankruptcy due to the result of the wrecked facilities after world war II.
They suspended making passenger cars until 1947 when they introduced the model SA. In the 1950’s they were back to full operation.
The company studying American Automobile Manufacturers carefully in order to regain competitiveness. The executives of the Toyota company toured the production ground of some corporations.
This was in order to observe the latest automobile technology. Which they later implemented in their own facilities. This yields an immediate increase in their efficiency.
In the year 1958, the Toyota company released the Toyopet sedan. It was their first model to be marketed in the US. Though it lacks horsepower even with its high price. Which makes it to be poorly received.
They also released the Land Cruiser. It was a 4 x 4 utility vehicle which was more successful. And it was released in 1958.
They later redesigned the Toyopet for American drivers, and it was released as the Toyota Corona. Thus, marking the first major success of the company in the united states.
The company expanded at a rapid rate. As they began exporting a large number of automobiles to the foreign markets in the 1960s and 1970s.
For many decades, Toyota remains japans largest automobile manufacturer. They began to trend in the American markets, as they have gained a good reputation when it comes to being fuel-efficient. And also its low cost, and most importantly a reliable vehicle.
The total net worth of this automobile company is approximately $236 billion dollars.