Founded in 1937 in Japan, the Toyota Motor Corporation became one of the automotive market leaders in terms of both vehicle production and sales. As of 2020, it was the leading motor vehicle manufacturer worldwide based on global sales, overtaking the Volkswagen Group. The Toyota brand is the company's best-selling subsegment with around eight million vehicles sold in 2020. At just over two million units, alternative fuel vehicles are gaining in importance for Toyota. The company made strides in the electric vehicle market by being the first and largest automobile company to offer a hybrid car in its line-up. The Toyota Prius was such a success that the company also began to provide a hybrid option for some of its other models, such as the Camry and the Avalon.
Spotlight on the company's history
The Toyota Motor Corporation is a Japanese-based multinational automotive manufacturer that produces cars, trucks, and motorcycles under four brands, including the luxury brand Lexus and the commercial vehicles brand Hino. The focus of the company is the automotive industry, but Toyota is also involved in the field of robotics and material handling.
Toyota was stalled from recovering financially from the worldwide recession that started in 2008 by a series of recalls and natural disasters not just in Japan, but in other production center locations, such as Thailand. Toyota's revenue finally surged back in 2013, and, despite recent problems with air-bag inflators, the manufacturer’s namesake brand consistently ranked among the most valuable car brands within the global automotive sector. As of 2021, it came in second only to Tesla, beating out other competitors such as Mercedes-Benz or Honda. Valued at just under 27 billion U.S. dollars that year, Toyota recorded a slight drop in performance as a result of the COVID-19 pandemic. The company’s net revenue dipped to just over 27 trillion Japanese yen, down from close to 30 trillion Japanese yen in 2020. Vehicle production also contracted by some 14.4 percent year-on-year, including production of vehicles sold under the manufacturer’s Daihatsu and Hino brands.
North America was the main international market for Toyota vehicle sales, with sales volumes just above the domestic market. In 2003, Toyota introduced the Millennial-aimed brand Scion to North American consumers, but the 2007 financial crisis greatly impacted the subdivision’s sales and Toyota abolished the brand in August 2016.
The Toyota RAV4 was the best-selling sport utility vehicle in the United States five years later, in the first half of 2021, and came first in SUV models worldwide rankings in 2020, dwarfing other models by some 258,800 sales. Concurrently, the Toyota Corolla was the most popular passenger car globally, selling over 1.1 million vehicles. Honda, Volkswagen, and Ford were some of the brand’s main competitors, with Volkswagen the only competitor recording higher 2020 sales revenue than Toyota. All these manufacturers experienced a similar slump in their revenue due to the pandemic. Japan-based Honda recorded a drop of over one trillion Japanese yen in revenue between 2020 and 2021, standing some 14 trillion Japanese yen under Toyota’s revenue. That same year, Honda’s automobile segment reported North America as its main international market, much like Toyota.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
In the following 4 chapters, you will quickly find the 24 most important statistics relating to "Toyota".