Japanese automotive brand Toyota, has had a tough couple of years. Natural disasters in Japan and Thailand caused parts shortages that curtailed vehicle production. The company gained and then lost the crown of top selling car brand in the world.
But one of the company’s many brands has managed to bring a smile to the face of executives at the aggressive automaker that is building factories in Thailand, China and Brazil to catch up with other manufacturers and gain market share in developing markets. The Toyota Corolla has now chalked up global sales of 37.5 million units since production began in 1966 and it is now the world’s best selling car ever.
That means that roughly one Corolla has been sold somewhere in the world, every 40 seconds for the past 40 years. The Corolla’s success can be put down to the fact that it has always been inexpensive to buy, run and service and was always reliable.
Such basic principles are a recipe for a successful brand.