How Toyota Became A Highly Profitable Company, The Critical Success Factors Behind Toyota's Success As A Highly Profitable Automotive Manufacturer, Toyota's Growth Strategies For Long Term Revenue Growth, And The Future Outlook Of Toyota

This essay sheds light on how Toyota became a highly profitable company, identifies the critical success factors behind Toyota's success as a highly profitable automotive manufacturer, demystifies Toyota's growth strategies for long term revenue growth, and reveals the future outlook of Toyota in the digital era. Toyota is a highly profitable multinational company that produces a host of automobiles, such as sedans, sports utility vehicles, crossover utility vehicles, trucks, and minivans. Not every automobile produced by Toyota is a gasoline-powered automobile. Toyota has for instance been able to produce hybrid electric vehicles, plug-in hybrid-electric vehicles, battery electric vehicles, hydrogen fuel-cell vehicles, and even autonomous vehicles. Toyota has also been able to produce humanoid robots. Unbeknownst to most people, Toyota was founded in 1937 and became highly profitable in 2018 to the extent of generating $22,446,000,000 in net income and $264,416,000,000 in sales revenue in 2018. Even though Toyota has been able to operate profitably for decades, Toyota reached a new pinnacle of profitability in 2018 in which Toyota generated $22,446,000,000 in net income 2018. In 2021, Toyota generated $21,105,000,000 in net income and $255,817,000,000 in sales revenue. Even though Toyota has been able to operate profitably throughout the 2010s, Toyota reached a new pinnacle of profitability in 2018 in which Toyota generated $22,446,000,000 in net income in 2018. Toyota’s net income of $21,105,000,000 in 2021 was close to their net income of $22,446,000,000 in 2018 and was only 5.8% less than their 2018 net income. Toyota's net income generated in 2021 for instance is a far cry from their net income generated in 2020. Toyota's net income in 2020 was $19,101,000,000 while its net income in 2021 was $21,105,000,000 which ultimately means that Toyota’s net income amplified by about 10.49% from 2020 to 2021, an increase of over 10% in this one year period. In spite of the recent innovations in their product lines, Toyota’s net income of $22,446,000,000 in 2018 was not surpass in 2019, 2020, nor 2021. Toyota’s net income of $22,446,000,000 in 2018 is however apt to be surpassed in the coming years as worldwide demand for automobiles surges. Toyota became profitable in 2018 primarily as a result of there being increased demand in 2018 for Toyota vehicles. Toyota produces a host of product offerings. Toyota offers their target market a myriad of disparate types of vehicles choose from purchasing. Toyota is deemed to be one of the utmost largest multinational automotive manufacturers in the world. Toyota also produces vehicular parts as well as accessories for their vehicles. Toyota is a dominant market competitor in the global automobile market due to having a significant market share in the global automobile market. As of 2021, it is estimated that Toyota has obtained at least 10.5%-12.2% of the market share in the global automobile market. Toyota vehicle’s are appealing to customers due to being deemed fuel efficient vehicles that are comprised of quality components. Since Toyota vehicles are comprised of quality components, they ultimately yield lower vehicle maintenance costs than vehicles from other car brands. While maintaining a Toyota vehicle is by no means cheap, it is far less expensive to maintain a Toyota vehicle, such as a Toyota Corolla L Sedan or Toyota Yaris Sedan, than it is to maintain vehicles from other car brands. Furthermore, much to the relief of Toyota vehicle owners, Toyota vehicles also yield lower vehicle repair costs than vehicles from other car brands since Toyota vehicles are comprised of quality components. Toyota manufacturers their product offerings. Toyota’s product offerings are available for sale at automotive dealerships that sell Toyota vehicles, such as Toyota dealerships. It is estimated that Toyota vehicles are available for sale in over “one hundred and seventy countries and territories” in the world. It is estimated that Toyota has at least twenty “research and development centers” in the world. It is estimated that Toyota has at least seventy one manufacturing factories worldwide. It is estimated that Toyota has thousands of dealerships around the world. It is estimated that Toyota has around 6,000 dealers in Japan for instance. Toyota vehicles are highly desirable vehicles since they are deemed to be fuel efficient vehicles that are comprised of high quality components. Toyota vehicles are able to be driven for a prolonged period of time and yield lower vehicle maintenance costs and lower vehicle repair costs than vehicles from other car brands.