Toyota Named 'World's Most Admired Motor Vehicle Company' By Fortune
For the fourth year in a row, Toyota took the top spot for the motor vehicles industry.
I’m sure everyone has heard of the Fortune 500 list. It’s a compilation of the 500 largest U.S. companies ranked by total revenue. Fortune also comes out with a “World’s Most Admired” list every year. In 2018, for the fourth consecutive year, Toyota took the top spot on that list.
Fortune collaborated with Korn Ferry on the survey. The process starts with a list of about 1,500 candidates; this includes the 1,000 largest U.S. companies ranked by revenue and non-U.S. companies with revenues of at least $10 billion or more. Then the list is cut down to the highest-revenue companies in each industry, giving them 680 companies across 29 countries. The top businesses are picked from that pool, then executives who worked at the companies in that group voted. Over 3,900 executives, directors, and securities analysts responded to the surveys to identify the 10 companies they admired the most.
Not only did Toyota take top honors in the motor vehicle group, but it also ranked among the top 50 overall most admired companies. The whole list will be published on January 22, but can already be found online. Toyota moved up five spots in the overall ranking from where it was placed last year.
After hearing about the news, Jim Lentz, CEO of Toyota Motor North America, said, "Toyota is honored to be listed among the world’s most admired companies once again, and to be recognized as the most admired auto company in the world for the fourth year in a row. This ranking acknowledges the many successes of our global team who are committed to advancing sustainable, next-generation mobility for our customers.”
In case you were wondering, the number two ranking in the motor vehicles industry belonged to BMW, but Toyota was ranked number one in nearly every key attribute of reputation.