The release of a new Toyota used to bring about as much buzz as your local youth pastor sitting on his chair backward and asking, "You know who was a really groovy guy?" So when former President and CEO Akio Toyoda declared "no more boring cars" in 2017, we were more than skeptical. Almost everything the company made from the late 1990s right on up until 2015 was a snoozefest. But Toyoda was the man in charge, and he was sick of the company's boring reputation.
After the financial crisis and a massive recall (that eventually lead to a billion-dollar class-action lawsuit settlement) surrounding unintended acceleration left Toyota in the red in 2009, the company's status as the world's largest automaker was genuinely at risk. At the same time, Toyoda was appointed CEO and president. He was thrown right into the fire and has said that his tenure over the last 13 years has been about survival. It's no wonder that Toyota vehicles were so inoffensively styled for so long: The automaker was trying to stay alive by playing it safe.
But a number of key new products — plus Toyota's unique ability to weather the coronavirus pandemic, having already dealt with supply chain issues in the wake of the devastating 2011 Tohoku earthquake and tsunami — resulted in Toyota being the best-selling automaker in the world (and one of its most interesting) in 2022. So how did this happen? Certainly not overnight.