The 2021 World Car Person of the Year is Toyota Motor Corporation (TMC) President and CEO Akio Toyoda.
The World Car Awards jury, comprised of more than 90 eminent worldwide journalists, presented the honor.
According to the World Car Awards, “The charismatic CEO and President of Toyota Motor Corporation, Akio Toyoda, has spent years effectively reinventing his business. Under his direction, Toyota maintained profitability in 2020 despite COVID-19, safeguarding jobs all around the world. In the Connected, Autonomous, Shared and Electric (CASE) age, he has continued Toyota’s steady pace of progress and started building the Woven Metropolis, an exciting, real-world prototype city of the future. All the while being a driver who is actively involved in racing.
President Toyoda said on the World Car Awards “Thank you very much for this wonderful honor on behalf of the 360,000 Toyota Team members that make up the company worldwide. If it’s alright with you, though, I would want to modify the title of this award from car “person” to car “people,” as it is the combined efforts of all of our global employees, retailers, and suppliers that have truly made Toyota what it is today. And as for me, I could not be a CEO who is luckier or more appreciative.
He went on to acknowledge and thank the whole automotive industry for its contributions: “At Toyota, we consider it a great blessing that we were able to maintain the employment of our team members during COVID-19 and carry on with our efforts to address the challenges facing our sector in the future. As a corporation, we’re dedicated to inventing fresh approaches to promote the welfare of the world and everyone on it.
“The present has been a challenging time in world history. But it has also served to remind us that what really counts are the people. And if we at Toyota can make a small difference in how happy they are, I will always strive to achieve that.
After earning a law degree from Keio University and a master’s degree in business management from Babson College in the United States, Akio Toyoda joined TMC in 1984. He joined the TMC board of directors in 2000 after working in a variety of business-related roles both domestically and abroad. Before taking on the position of TMC President in 2009, he later held several senior and executive vice president positions.
The World Car Person of the Year award was established in 2018 to recognize and honor a person who has significantly impacted the global automobile sector over the course of the previous year. It is one of the six honors given each year by the World Car Awards program, which was started in 2003.
In This Article...
What is the CEO pay at Toyota?
According to a report from Japan’s Financial Services Agency on Tuesday, the Japanese auto giant paid its CEO Akio Toyoda a total of 184 million yen (US$1.86 million) in salary and bonuses.
Who is the current CEO of Toyota?
Toyoda is the grandson of Kiichiro Toyoda, the founder of the Toyota Motor Corporation, and the great-grandson of Sakichi Toyoda, the founder of Toyoda Automatic Loomworks. He was born in Nagoya on May 3, 1956, to Hiroko ne Mitsui and Shoichiro Toyoda. Since the days when his carpenter-farmer great-great-grandfather, Ikichi Toyoda, taught his son fabrication and carpentry, Toyoda’s family line has controlled the highest management of the family companies. When Katsuaki Watanabe was demoted to Vice-Chairman following the quality control problem, Akio Toyoda was the leading candidate to take over the family firm. [2] [3]
Who is the world’s highest-paid CEO?
On the Fortune 500, Apple is ranked third. Elon Musk, CEO of SpaceX and Tesla, came in first place on the 2021 Fortune 500 list of highest-paid CEOs. Musk “realized” remuneration from executing some Tesla stock options granted in 2018 in 2021, totaling roughly $23.5 billion.
What is the net value of Toyota?
On this page, you can check Toyota’s Net Worth, History, Assets, Income, Liabilities, Net Income, Total Employees, and a lot more information. Toyota has a net value of roughly $282 billion. Toyota’s net value is estimated by Japanese media to be $300 billion, but according to news reports from other countries, we think it will actually be closer to $236 billion. Japanese people founded Toyota. Toyota was established in 1937, but its founder had already begun producing automobiles a year earlier. In 1937, the firm was given the name Toyota Motor Company.
If you were born in the 1990s, you are probably aware that Toyota is considered to represent the future of the automobile industry due to its estimated one million dollar per hour investment in R&D. The most durable vehicles are thought to be Toyotas. These vehicles are thought to last at least twenty years. A city in Japan is called after Toyota since the firm is so significant there.
As we’ve already indicated, Toyota’s management carefully considers what will happen in the future. Toyota has made an approximately $1 billion investment in artificial intelligence in light of this. Despite being regarded as a separate entity, Toyota Japan employs 80% people outside of Japan. Six hundred thousand people are reportedly employed there, with 80 percent of them working outside of Japan.
Since 1957, when the Toyota first arrived in America, there has been no turning back. Toyota is supposed to be the brand with the fastest sales, and it is said that this vehicle spends the least amount of time in showrooms. Toyota is regarded as an eco-friendly and reliable brand of vehicle. Toyota is considered to produce vehicles that are the least harmful to the environment. We’re referring to vehicles that use fossil fuels. Check out the wealth of Google, Amazon, Apple, Facebook, and the other tech giants.
Is Toyota a family-run company?
Toyota is the third-largest automaker in the world and a pioneer in the development of alternative fuel vehicles. Kiichiro Toyoda established the firm in 1937 because he was adamant that his family’s enterprise should diversify into the rapidly growing industry of vehicle production. Eiji Toyoda took over as CEO of the Toyota Motor Corporation after his cousin Kiichiro Toyoda resigned in 1950. The business grew under his direction and became a well-known global brand. He also managed the introduction of their brand’s luxury car, the Lexus.
Toyota has distinguished itself from Detroit’s Big Three (Ford, Chrysler, and General Motors) over the course of its history not only in terms of production quality but also in terms of corporate culture. Toyota attempted to maintain good staff morale by providing frequent exercise breaks, in contrast to the American auto industry titans who were happy to expose their workers to the hardships of life on the assembly line. They unveiled “The Toyota Waya collection of principles” in 2001, emphasizing respect for individuals and ongoing development of the business’ management and production procedures.
Lean manufacturing and just-in-time production are two more innovative methods of auto manufacture that Toyota pioneered. Initially regarded as strange curiosities, they have since been adopted by many automakers all over the world.
Toyota has made a name for itself as a global innovator in the development and marketing of electric hybrid automobiles. The Prius, the company’s emblematic hybrid vehicle, has now sold more than six million units globally. More than 10 million automobiles have been sold when the combined sales of all hybrid Toyota and Lexus models are taken into account.
Who is the owner of Toyota?
Sakichi Toyoda created the first mechanical loom in the world and founded the Toyoda Spinning and Weaving Company in 1918, which is where Toyota got its start in the weaving business of Japan. Since a loom would stop and wouldn’t continue to produce faulty cloth and use up thread if an issue arose, his method reduced faults and enhanced yields. The Toyota Production System still relies heavily on the jidoka concept, which calls for engineering machinery to automatically halt and alert users to issues right away.
The loom so impressed the Platt Brothers, a British company, that they paid 100,000 in 1929 for the production and sales rights. Sakichi handed his son Kiichiro the money so that he might advance automobile technology at Toyoda. The Model AA, the company’s first ever passenger automobile, was introduced as a result in 1936, and the Toyota Motor Company was established in 1937. In addition to its own factories, manufacturing subsidiaries, and affiliates in Japan, Toyota today produces automobiles and parts under the Toyota and Lexus brands all over the world. Production of Toyota vehicles outside of Japan started in Brazil in 1959.
Take a look at Toyota’s past, beginning with the founder Sakichi Toyoda’s birth. It charts the company’s growth from the time Toyota Motor Corporation was founded in 1937 until the sale of the two millionth Prius hybrid.
How does Toyota generate revenue?
Government assistance is unavoidable, according to United Auto Workers and American automakers. Taxpayer-funded cash infusions are required to safeguard a crucial industry, keep people employed, and preserve Detroit’s status as one of business’ “shining beacons.”
Despite these allegations, the biggest automaker in the world managed to earn $245 billion in revenue for the fiscal year 2021 in addition to continuing to exist independently. Toyota Motor Corp. (TM) earns money through three main business divisions: production of non-automobiles machinery and other ventures, financial services, and automotive.
Key Takeaways
- Toyota passed Volkswagen to take the title of biggest automaker in the world in 2021.
- The Toyota Camry, which is the most popular sedan in the US, is made by Toyota.
- In 2021, Toyota recorded global sales of $27.2 trillion yen, or roughly $245 billion.
- Toyota also produces forklift trucks and other industrial machines in addition to passenger cars.
- Toyota’s sales of automobiles account for almost 90% of its revenue. The company’s financial services division and other commercial operations account for a smaller share of its revenue.