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Toyota’s recipe for success

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By Alex Taylor III
FORTUNE senior editor
CNN Money

Toyota alone earned more than all the rest of the world’s 12 largest auto manufacturers combined — $11.4 billion. And it is pioneering a new technology for the 21st century that will shrink gasoline consumption and limit greenhouse gases.


By early in the next decade, Toyota expects to be selling one million hybrids a year. Since no other automaker can even approach that quantity, Toyota is way out in front — which would seem an unusual place to be for a company that lagged behind its Japanese competitors in opening assembly plants in the U.S. and moving into China.

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