* High sales volumes: Toyota is the world's largest automaker by volume, selling more than 10 million vehicles in 2021. This gives the company significant economies of scale, which allows it to produce vehicles at a lower cost than its competitors.
* Efficient production: Toyota is known for its efficient production methods, which help to minimize waste and reduce costs. The company's factories are highly automated, and Toyota also uses a number of innovative production techniques, such as "just-in-time" manufacturing.
* Strong brand reputation: Toyota has a strong brand reputation for reliability and durability. This reputation has helped the company to command a premium price for its vehicles, and it has also made Toyota a popular choice for businesses and fleets.
* Diversified operations: In addition to its automotive business, Toyota also has a number of other businesses, including financial services, heavy equipment, and marine products. This diversification helps to reduce the company's risk profile and provides a source of revenue growth.
Toyota's profitability has allowed the company to invest heavily in research and development. This investment has led to the development of new technologies, such as hybrid and electric vehicles, which have helped Toyota to maintain its competitive edge.
