A logo of Toyota Motor Corp. at a dealer Wednesday, May 11, 2022, in Tokyo. Toyota’s flagship model in Japan, the Crown, is going on sale around the world for the first time, including in the U.S. (AP Photo/Eugene Hoshiko, File)
Toyota Chief Executive Akio Toyoda poses in front of its new Crown family of vehicles in Chiba, near Tokyo Friday, July 15, 2022. Toyota’s flagship model in Japan, the Crown, is going on sale around the world for the first time, including in the U.S. (Kyodo News via AP)
Toyota's new Crown family of vehicles are unveiled in Chiba, near Tokyo Friday, July 15, 2022. Toyota’s flagship model in Japan, the Crown, is going on sale around the world for the first time, including in the U.S. (Kyodo News via AP)TOKYO (AP) — Toyota’s flagship model in Japan, the Crown, is going on sale around the world for the first time, including in the U.S.
“I’m so excited to announce today that this new Crown family of vehicles will be offered not just in Japan but globally for the very first time,” its Chief Executive Akio Toyoda told reporters Friday.
“A car that could very well be our crowning achievement.”
The 16th generation Crown, set to begin production in January, comes in four varieties — a crossover with a hybrid system; a sedan that is most similar to the Crowns seen on Japanese streets; a sport-utility vehicle and a wagon crossover called the “estate,” the company said.
The Crown will go on sale in 40 nations, with Toyota Motor Corp. aiming for 200,000 vehicles in annual global sales. The cheapest version starts at 4.35 million yen ($31,000) in Japan.
Toyota, Japan's top automaker, sells about 10 million vehicles globally a year. It has a successful global luxury lineup called Lexus, whose cheapest models sell for about $35,000 in the U.S.
The Crown’s history parallels the rise of Toyota and of the modern Japanese economy, with the first sedan going on sale in Japan in 1955. “Some day a Crown,” was a tagline over the years. But the cars are not well-known abroad.
Toyoda called the Crown “the pride of Japan.” Company founder Kiichiro Toyoda, his grandfather, came up with the name.
“Nothing will make me happier than Japan’s Crown becoming loved by everyone around the world,” said Toyoda.
___
Yuri Kageyama is on Twitter https://twitter.com/yurikageyama
Before you consider Toyota Motor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Toyota Motor wasn't on the list.
While Toyota Motor currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
