How Toyota Does It

(FORTUNE Magazine) - In an industry where so many others are sputtering, Toyota (Research) is a runaway train. It produces nearly 50% more automobiles than it did in 2001, and this year it will almost certainly pass General Motors to become the world's largest car company by volume. In 2005 it earned $11.4 billion--more than all other major automakers combined. Now it has become the first non-U.S. company to break into the top ten on our America's Most Admired list. In a word, and here we paraphrase the unspoken opinion of its competitors, "Yikes!" To find out what Toyota has that the other guys don't, we sent our resident auto maven ALEX TAYLOR III to Japan. He came back with a remarkable tale that shows how this secretive company is changing the world: the untold story of the hybrid car. Top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.