About Toyota

Today, we will be learning more about a popular car brand name. The name is Toyota. Toyota, with less than 100 years of history, has grown enormously. In fact, Toyota employees more than 300 thousand people world wide and, as of July 2012, it is the eleventh largest company in the world by revenue.

In 1924, Toyoda had started building automatic loom and not long after the patent was sold to a British company, which gave Toyoda the capital it needed for to start the automotive division. Thus in 1930, Toyoda began research on small gasoline-powered engines and in 1933, the Automobile Department was established as a division of Toyoda Automatic Look Works.

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Shortly after, in 19367,Toyota began the production of its first car, the Model AA. However, it was Toyota's Crown model the first passenger car made in Japan to be exported to the United States. By 1972, Toyota reached the mark of 10 million vehicles produced.

By the early 1980s, Toyota responded to stiff tariffs by building production plains in the United States. Furthermore, the 1973 oil crises pushed consumers to look for small cars with better fuel economy. The rest is almost history, well, not before mentioning Toyota's great achievement of overtaking Ford Motor in annual sales in 2003 and exceeding General Motors in 2006.