Three years earlier, in 1934, while still a department of Toyota Industries, it created its first product, the Type A engine, and, in 1936, its first passenger car, the Toyota AA. The company was founded by Kiichiro Toyoda in 1937 as a spinoff from his father's company Toyota Industries to create automobiles. It did so in 2012 according to OICA, and in 2013 according to company data. As of July 2014, Toyota was the largest listed company in Japan by market capitalization (worth more than twice as much as #2-ranked SoftBank) and by revenue. Toyota is the world's first automobile manufacturer to produce more than 10 million vehicles per year. Toyota was the largest automobile manufacturer in 2012 (by production) ahead of the Volkswagen Group and General Motors. In July of that year, the company reported the production of its 200-millionth vehicle. In 2013 the multinational corporation consisted of 333,498 employees worldwide and, as of November 2014, is the twelfth-largest company in the world by revenue. On February 3, 2016, Toyota announced that it would shut down the Scion brand in August 2016, with selected models being re-branded as Toyota vehicles for the 2017 model year.Toyota Motor Corporation is a Japanese automotive manufacturer headquartered in Toyota, Aichi, Japan. The Scion name, meaning the descendant of a family or heir, refers both to the brand's cars and their owners. The brand was launched originally with promises of short product cycle and value based partly on low dealer margins which became difficult to keep as sales fell after the economic downturn. The first Scion models, the xA hatchback and xB wagon, went on sale in California in 2003, followed by a sports coupe, the tC, and a nationwide U.S. launch in 2004. A successor to the xA, the xD, premiered in 2008, and the Scion marque expanded to Canada in 2010. The Scion lineup uses a one-trim, simplified purchase process, and the marque has relied upon guerrilla andviral marketing techniques. Founded in 2002, Scion's long-term goal is to appeal to Generation Y consumers. Scion is a brand of vehicles produced by Toyota Motor Corporation for the North American market.
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