Toyota Europe’s gear shift from automobile to mobility company

Established in 1937, Toyota is one of the largest automobile manufacturers in the world. In 2020, it was the third-bestselling passenger car brand in Europe. Yet, in 2018, Toyota president Akio Toyoda set out his vision for transforming Toyota from a heavyweight manufacturer into a provider of mobility services.

Sensing a shift in demand from ownership to on-demand usership, Toyota began preparing its European organization for the introduction and integration of new mobility services into its existing business of making and selling cars. By the end of 2021, Toyota had established KINTO as a mid-sized mobility player active in nine European countries with 110,000 cars under management.

The transformation rationale

In the space of eight years (2010-2018) the European market had shifted significantly from private ownership towards corporate fleets, with two out of three new cars being sold to companies. Also, corporates increasingly opted for full service leasing contracts…