[9][13] Lacking an engine powerful enough to drive on US highways, however, the Crown failed to win over American drivers and incurred a significant loss for the company.
[9][13][15] The experience was a turning point for Toyoda, who later wrote that he became "determined to develop a high-quality passenger car that would perform well anywhere in the world".
[16] Before stepping down as president in 1992, Toyoda drove the adoption of the Toyota Development Center System, organizing the company in "clusters" that would help foster creativity and innovation.
[16] Under Toyoda's leadership, Toyota expanded its global footprint by manufacturing vehicles in local markets, starting with North America.
[20][9] In 1983, Toyoda opened discussions with General Motors to form a joint venture to take over a GM factory in California.
[9] After successfully building Toyota's reputation as a manufacturer of affordable compact cars, in 1989, the company introduced the Lexus brand of luxury automobiles to the US market, as Toyoda aimed to design a vehicle that could compete with German models.
[13] Even after he was no longer involved in day-to-day management of the company, Toyoda remained personally interested in car design, and was an enthusiastic participant at test-drive events into his later years.
[12][20] Taking the helm of the powerful business lobbying organization in the aftermath of the Japanese asset price bubble, Toyoda helped to navigate tense trade relations with the US.
[12] When his younger brother Tatsuro Toyoda, the new president of Toyota Motor Corporation, was unable to join discussions with US Ambassador Walter Mondale due to illness, Shoichiro stepped in as chairman of Toyota to negotiate the voluntary purchase of more American parts to help alleviate the US trade deficit with Japan, roughly half of which was due to automobiles.
[21][13] He was survived by his wife, daughter, and son Akio Toyoda, who has served as president of Toyota Motor Corporation for 14 years and stepped down from the post in April 2023.