
| Kiichiro Toyoda established Toyota in 1937 which is now head-quartered in Aichi, Japan. Toyota Motor Corporation is the world's largest automaker by sales revenue, relegating GM from its perch. Toyota owns and operates premier brands like Toyota, Lexus and Scion while owning half of another automotive brand, Daihatsu. Toyota tied up with the Kirloskar Group by forming Toyota Kirloskar Motor Private Limited which was established in October 1997. The shareholders of Toyota Motors are Toyota Motor Corporation holding a share of 89% while Kirloskar group holds 11%. Sensing the importance of India as a market, Toyota started its operations here by launching the Corolla which was the segment leader for a long time. The Camry was introduced to rival the Honda Accord here but failed to capture the buyer's mind owing to its high sticker price. The Land Cruiser Prado occupies the place of pride, competing against the likes of formidable contenders like the Mitsubishi Montero. Toyota Innova invigorated the image of MPVs and has been selling in good numbers. In 1997, Toyota began production of the world's best selling hybrid car, the Toyota Prius. Later in 2002, it started the IMV project, "Innovative International Multi-purpose vehicle" to optimize global manufacturing and supply systems for pickup trucks and multipurpose vehicles. Toyota Kirloskar sells 4 car models in India. It stopped producing the Toyota Qualis to make way for the Toyota Innova, which was launched in India in 2005. The most expensive car from Toyota is the Land Cruiser Prado. |