For the sixth year in a row, Toyota has earned a notable achievement: Being ranked on Fortune’s 2020 World’s Most Admired Companies list. Simply being ranked upon that list is quite impressive, but when you consider that Toyota’s spot on that list is under “Top Automaker,” it gets even better. We can’t say that we here at Westbury Toyota are all that surprised, considering all that Toyota has proven it is capable of doing. To give a little more insight as to why the automaker has earned this prestigious ranking for a sixth year in a row, we have put together an in-depth look on Fortune’s ranking methodology – and how Toyota earned its spot.
It is well known that the “World’s Most Admired Companies” List is essentially a report card for the reputation that corporations have garnered through the year. Taken into account when creating the list are elements such as peer reviews and company surveys given by important players such as industry analysts, senior executives, and directors. When compiling the list, Fortune reviews nine separate attributes, all of which are considered imperative in making a company a success on a global scale. Fortune gave Toyota a high ranking in all categories, which we’ve listed below:
As you can see, Toyota is ranked highest among all automakers for very valid reasons. Fortune gave the company an overall score of 8.40, which is why it finds itself among the top 30 of the world’s most admired companies. What’s more, the other two highest ranking automakers come in at 32 (BMW) and 115th (Daimler).
Toyota has long been one of the world’s most successful automakers, and for six years it has been made clear that they are also among one of the most liked in their industry. Toyota has strived to introduce innovations into several phases of the automaking process that streamline, reduce emissions, increase efficiency, and integrate ever-evolving, useful technology meant to simplify and improve the day-to-day task that is driving.
The scope of Toyota’s vision for a better world is also another reason it ranks as high as it does on this list. Consider the scope of its initiatives revealed earlier this year at the Consumer Electronics Show (CES), in particular that of Woven City. The city, to be built across a 17-acre expanse at the base of Mount Fuji in Japan, will be an urban prototype focused on improving every aspect of urban living. This lofty goal is to be accomplished through use of power alternatives like hydrogen fuel cells and by using the urban area as a testing ground for numerous mobility solutions, such as personal support robots, battery electric vehicles (BEVs), and fully automated Mobility as a Service (Maas) vehicles.
The concept of Woven City is one of finding solutions, and that is something Toyota has proven time and again it is dedicated to exploring not only on the automotive front, but in making advancements that can better the quality of life for everyone. Toyota’s commitment to global improvement is clearly an admirable one, so it is easy to see just how it managed to snag the “Top Automaker” spot on Fortune’s prestigious list.