Toyota is now the most popular car brand not only in the United States, but in the world. In 2015, they sold more than 10 million cars worldwide, surpassing their competitors. Toyota has been at the top of the list of most cars sold for seven out of the last eight years. This is why Toyota is widely known for their contributions to globalization. This company has ultimately affected 170 different countries around the world. More specifically, growing the Toyota brand to the United States, has been a great influence on the economy.
Toyota’s Entrance to the United States
Toyota came to the United States on October 31, 1957. Since then, it has grown remarkably to become one of the most popular car manufacturers in the United States today. However, it has not always been at the top. When the company was first established in the U.S., only 288 vehicles were available. Out of the 288 cars, only one was a Land Cruiser (this model is still around today). The rest were a model called Toyopet Crown. Those two cars did not sell as well as they wanted, so they created a new car in 1965 called the Corona. This car became very popular in the United States and Toyota was starting to build their reputation for having quality and reliable cars. Then in 1968, Toyota released the Corolla, which is the world’s most popular car with over 30 million cars sold in more than 140 countries. This is when the brand “Toyota” really started to have an effect on the United States. In less than ten years, Toyota became the leading car manufacturer that sold imported cars. Now, fast forward to today and Toyota has continued to grow and essentially dominate the U.S. market. Toyota has greatly affected the U.S. economy in many different ways since expanding their company overseas.
Toyota Gives Americans Jobs
Globalization can really benefit the country that the company is expanding to. Even though Toyota is a Japanese company, it still has a major contribution to the U.S. economy. The biggest way the United States benefited from Toyota coming into the country is that it created many jobs. Based on a study done in 2011, Toyota has created more than 365,000 jobs in the United States. Unemployment rates has always been a concern for the country, especially after the recession toward the end of the 2000’s.
Many Americans expressed interest in working for Toyota. The process of obtaining a job at Toyota’s assembly line is difficult. The applicants have to complete multiple training sessions to be able to get the job. Its purpose is to separate the great workers from all the applicants. Once hired, Toyota trains their employees to learn all of the assembly jobs to be able to complete any necessary job. This benefits the employees because it makes them more skilled and therefore, more important to the company. Thus, leading to a more secure job and that is a priority for all employees.
Toyota Sales are off the Charts!
Another way that Toyota impacts the U.S. economy is from their sales. Toyota has built their brand to become one of the top car manufacturers in the world. In 2015, Toyota dominated the U.S. market by having two of their cars as #1 and #2 on the list of bestselling cars. The Camry had a total of 361,111 cars sold, while the Corolla model sold 306,693. This is significant because this shows that Americans are buying more foreign cars than American cars such as Ford and Chevrolet. This shows that globalization is becoming more prevalent in today’s world. It is amazing that Toyota can accomplish such a feat. Toyota is certainly not the oldest car manufacturer in the market, but they are competing and winning against the older companies such as Ford. To expand that further, Toyota are outcompeting these American companies in their own backyard!
To summarize, Toyota becoming a globalized company has definitely impacted the United States’ economy for the better. First of all, Toyota has created many jobs and involved so many different workers to run their company successfully. Second, Toyota is one of the leading seller in cars in the U.S. When Toyota first came to the United States back in 1957, their company was small, starting with less than 300 cars and eventually discontinuing one of their main cars. However, Toyota bounced back and created a series of different cars that started to make the name “Toyota” a household name.
Overall, Toyota has had an enormous impact and will continue to have an enormous impact on the United States’ economy.
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