In the year 1937, Kiichiro Toyoda founded Toyota in Toyota, Aichi, Japan as a Japanese automotive firm manufacturer. Toyota Motor Corporation products include Automobiles, Luxury Vehicles, Commercial Vehicles and Engines under five brands including the Toyota Brand, Hino, Lexus, Ranz and Daihatsu. Owing to their innovative hybrid and environmental technology, they are the leaders in the automotive industry.
In any business, there are several companies & brands which compete with each other by offering similar products & services.
For any company to thrive, it is not only important for them to improve their own products, but to also look at what their competitor is offering.
Below we look at the top 12 competitors of Toyota.
Honda is one of the largest manufacturers of automobiles and motorcycles in the world. It is a Japanese multinational company which operates in North America, Asia and Europe. Honda is also known for the manufacture of aircrafts and power equipment.
Ford Motor Company is a US based global leader in the automobile manufacturing industry operating both in commercial vehicles and private cars market. The company was established in 1903 by Henry Ford. After more than 100 years, the firm is one of the largest automobile player in the world.
A Japanese manufacturer of automobiles headquartered in Yokohama, Japan, Nissan is one of the iconic and well recognized brands of the world. Under its Infiniti, Datsun and Nissan brands it manufactures and sells cars. It also has performance wing, Nismo which produced in house tuning products for enhanced performance.
Chevrolet, formally known as Chevrolet Division of General Motors, is an automobile division of American manufacturers General Motors. It was founded in the year of 1911 by Louis Chevrolet and William Durant. It headquarters in Detroit, Michigan, USA with its operation in all parts of the world.
FIAT Chrysler Automobile(FCA) group owns the group brand FIAT. FIAT and Chrysler merged to form the group FCA. FIAT was founded in the year 1899.
Mitsubishi electric is an Japanese conglomerate which has its business expansions spread over almost every sector of the industry. Though world has been knowing Mitsubishi as a car manufacturer, it also has its presence in plethora of sectors including chemicals, industrial finance, metals, energy, machinery and daily living essentials. The conglomerate founded Yataro Iwasaki in the 20th century, has now gown in to a multinational that operates across 200+ different locations worldwide.
7. Maruti Suzuki:
Subsidiary of the Japanese automotive manufacturing company Suzuki, Maruti Suzuki was founded in 1981 and is headquartered in New Delhi. Beginning a new chapter in the history of automobiles, Maruti Suzuki India launched the 800, a runaway success which stood for reliability and ease of ownership. Also known as the people’s car manufacturer, it faces stiff competition from other automotive giants such as Hyundai, Ford, Honda, Tata etc.
8. Tata Motors:
Tata Motors is headquartered in Mumbai, India and is an Indian automotive manufacturing company. Its products ranges from trucks, cars, passenger vans, buses military vehicles and construction equipment. Tata Motors was founded in the year 1945 as locomotive manufacturer and in collaboration with Daimler-Benz AG it’s manufactured its first commercial vehicle in 1954.
Skoda, a Czech automobile manufacturer, has lived a journey of over a century and a quarter. Skoda carries with itself enough experience to manufacture best in the class automobile, that it does. The brand eventually fell under the Volkswagen umbrella and since then has been competing with its parent brand as well.
Founded in 1937 in Wolfsburg, Germany by German Labour Front, Volkswagen is the largest automobile manufacturer in the world. It is the biggest company within the Volkswagen group comprising such brands Audi, Lamborghini, Bentley, Scania, MAN, Skoda and SEAT. Literally translating into ‘People’s car’ Volkswagen was started as a mass market producer of affordable cars in Germany at a time when only 1 out of every 50 Germans could afford a car.
The Volvo brand, Latin meaning ‘I roll’ is one of the most recognizable brands across the world and identified with a promise of superior performance and reliability. Volvo, the parent brand of Volvo is a world renowned company headquartered in Sweden with operations spread across Europe, America, Africa, Asia and Australia. It manufactures and sells Volvo trucks, cars, construction equipment, buses etc.
Hyundai motor company is a Korean car manufacturer company. It employs about 75000 people worldwide. It has an annual capacity of 1.6 million units.
To conclude, the above article highlights the various competitors which compete with Toyota. This understanding helps to evaluate the various external business factors for any company.
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