Toyota has historically been the world’s largest automaker by market capitalization. Its valuation has often exceeded that of other major vehicle manufacturers because of its global scale, profitability, hybrid leadership, and strong balance sheet.
Toyota Motor Corporation was founded in Japan and sells vehicles under brands including Toyota, Lexus, Daihatsu, and Hino. The company became especially associated with hybrid vehicles through the Prius, launched in Japan in 1997.
Automaker rankings can change as share prices move and as investors reassess electric vehicles, batteries, software, and autonomous driving. Toyota’s market capitalization is therefore not the same as its annual production ranking. Tesla and BYD have at various times attracted higher valuations or stronger investor enthusiasm in specific periods.