Profile: Toyota Motor Corp (TM)
6 Mar 2014
TOYOTA MOTOR CORPORATION is a Japan-based company mainly engaged in the automobile business and financial business.The Company operates through three business segments. The Automobile segment is engaged in the design, manufacture and sale of car products including passenger cars, minivans and trucks, as well as the related parts and accessories. The Finance segment is involved in the provision of financial services related to the sale of the Company's products, as well as the leasing of vehicles and equipment. The Others segment is involved in the design, manufacture and sale of housings, as well as information and communication business.
Toyota produces and sells passenger cars, minivans and commercial vehicles, such as trucks. Toyota’s subsidiary, Daihatsu Motor Co., Ltd. (Daihatsu), produces and sells mini-vehicles and compact cars. Hino Motors, Ltd. (Hino), also a subsidiary of Toyota, produces and sells commercial vehicles, such as trucks and buses. Toyota also manufactures automotive parts, components and accessories for its own use and for sale to others. Toyota’s vehicles can be classified into two categories: conventional engine vehicles and hybrid vehicles. Toyota’s product line-up includes subcompact and compact cars, mini-vehicles, mid-size, luxury, sports and specialty cars, recreational and sport-utility vehicles, pickup trucks, minivans, trucks and buses. The Company’s subcompact and compact cars include the four-door Corolla sedan. The Yaris, marketed as the Vitz in Japan, is a subcompact car. Toyota introduced the micro premium car iQ in October 2008.
Mini-vehicles are manufactured and sold by Daihatsu. Daihatsu manufactures mini-vehicles, passenger vehicles, commercial vehicles and auto parts. Mini-vehicles are passenger cars, vans or trucks with engine displacements of 660 cubic centimeters or less. Daihatsu sold approximately 601 thousand mini-vehicles and 182 thousand automobiles on a consolidated basis during fiscal 2009. Toyota’s mid-size models include the Camry. Camry models include the Camry Solara sport coupe.
In North America, Europe and Japan, Toyota’s luxury line-up consists primarily of vehicles sold under the Lexus brand name. Lexus models also include luxury sport-utility vehicles sold in the United States, such as the GX, the RX, the LX, as well as the SC and the IS F. As of May 31, 2009, the Lexus brand line-up in Japan includes the LS, GS, IS, RX, SC and IS F. Toyota brand’s full-size luxury car, the Crown, was remodeled in February 2008, and the Crown Majesta was remodeled in March 2009. Toyota also sells the Century limousine in Japan. In Japan and other markets, Toyota sells the Lexus SC two-door sports coupe, and in the United States the Scion tC, a sport car model targeted to young drivers.
Toyota sells a variety of sport-utility vehicles and pickup trucks. Toyota sport-utility vehicles available in North America include the Sequoia, the 4Runner, the RAV4, the Highlander, the FJ Cruiser and the Land Cruiser, and pickup trucks available are the Tacoma and Tundra. The Tacoma, the Tundra and the Sequoia are manufactured in the United States. Toyota’s product line-up includes trucks (including vans) up to a gross vehicle weight of five tons and micro-buses, which are sold in Japan and in overseas markets. Trucks and buses are also manufactured and sold by Hino, a subsidiary of Toyota. Hino’s product line-up includes large trucks with a gross vehicle weight of over 11 tons, medium trucks with a gross vehicle weight of between five and 11 tons, and small trucks with a gross vehicle weight of up to five tons.
Toyota Financial Services Corporation is Toyota’s wholly owned subsidiary, which oversees the management of Toyota’s finance companies worldwide and the expansion into new automobile related product areas. Toyota Motor Credit Corporation is Toyota’s principal financial services subsidiary in the United States. Toyota also provides financial services in 32 other countries and regions through various financial services subsidiaries, including Toyota Finance Corporation in Japan, Toyota Credit Canada Inc. in Canada, Toyota Finance Australia Ltd. in Australia, Toyota Kreditbank GmbH in Germany and Toyota Financial Services (UK) PLC in the United Kingdom.
Toyota Motor Credit Corporation provides a range of financial services, including retail financing, retail leasing, wholesale financing and insurance. Toyota Finance Corporation also provides a range of financial services, including retail financing, retail leasing, credit cards and housing loans. Toyota’s other finance subsidiaries provide retail financing, retail leasing and wholesale financing. In October 2008, Toyota established Toyota Financial Services Vietnam in Vietnam. As of March 31, 2009, approximately 63.6% of Toyota’s finance receivables were derived from financing operations in North America, 14.1% from Japan, 11.0% from Europe, 3.8% from Asia and 7.5% from other areas. Approximately 45% of Toyota’s unit sales in the United States included a financing or lease arrangement with Toyota during fiscal 2009.
Toyota provides insurance services in the United States through Toyota Motor Credit Corporation’s wholly owned subsidiary, Toyota Motor Insurance Services, Inc (TMIS) and its wholly owned insurance company subsidiaries. Their principal activities include marketing, underwriting and claims administration. TMIS also provides coverage related to vehicle service agreements and contractual liability agreements through Toyota dealers to customers. In addition, TMIS also provides coverage and related administrative services to affiliates of Toyota Motor Credit Corporation. Toyota dealerships in Japan and in other countries and regions also engage in vehicle insurance sales. As of March 31, 2009, Toyota Finance Corporation has approximately seven million card holders, of which approximately 43,000 are Lexus credit card holders.
All Other Operations
Toyota is involved in a number of other non-automotive business activities. Toyota is also engaged in the manufacture and sale of prefabricated housing. Toyota also operates a Japanese-language Website, GAZOO.com. Gazoo was established as a membership Internet service linking Toyota, its national dealer network and Gazoo members, and has provided information on new and used Toyota automobiles and related services, as well as online shopping capabilities. Toyota also offers the theft detection service, the vehicle tracking service, the operator support service and so on as standard to enhance services, which is focused to provide safety and security for G-BOOK and G-Link users.
The Company competes with General Motors, Ford, Chrysler, Honda, Nissan, Volkswagen, Opel, Renault and Peugeot.
Toyota Motor Corp
TOYOTA-SHI ACH 471-8571
Company Web Links
- CORRECTED-U.S. engine maker backed by Bill Gates forms second China venture
- VW rethinks Skoda and Seat strategy in mass-market struggle
- U.S. engine maker backed by Bill Gates forms second China venture
- Australia new vehicle sales edge up in Feb-VFACTS
- UPDATE 2-VW budget car plan stalls as struggles to meet cost targets