Toyota's Business Environment

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Introduction

Toyota created and revolutionised by Sakichi Toyoda the inventor of the world’s first automated loom in 1918. Sakichi sold his patent for the automatic loom for the sum of £100,000 in 1929 and then donated the proceeds to his son to develop automotive technology at Toyota. Production of the first prototype known as the Toyoda AA passenger vehicle begins in 1936, the Toyoda motor corporation began. The Toyoda family were superstitious and changed the letter ‘d’ to a ‘t’ as the letter ‘t’ only requires 8 strokes and 8 is a lucky number in Japan. Toyota Motor Corporation was formally founded on 28th August 1937 with a total investment of 12 million yen (approx. £300,000). Toyota is at the heart of global manufacturing, a company that has grown within 70 years to become the leading far eastern and world’s 2nd largest car manufacturer. Toyota a global business, building vehicles in factories on six continents around the world and employing more than a quarter of a million people. The United Kingdom is a key market for Toyota both in terms of sales and manufacturing, building two production centres. Toyota’s automotive business, including sales finance, accounts for more than 90% of the company’s total sales. Toyota totalled 8.81 million units from January 1, 2006 to December 31, 2006 making a new record. The unit sales consolidated to ¥21.03 trillion yen in the fiscal year to March 2006. Toyota is hoping for a 6% increase in the next financial year to over take General Motors and make Toyota the biggest car manufacturer in the world.

Toyota is split up into two sectors:
1.Automotive sector- Lexus is Toyota's brand name for its luxury vehicle division. Group companies owned by Toyota include, Daihatsu and HINO brand vehicles. 2.Non-Automotive - At present, Toyota is active in a number of areas in addition to its core business of automobile manufacturing-Areas including housing, financial services, communications, GAZOO, marine vehicles,...
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