In 1924, Sakichi Toyoda invented the Toyoda Model G Automatic Loom. The principle of jidoka, which means the machine stops itself when a problem occurs, became later a part of the Toyota Production System. Looms were built on a small production line. In 1929, the patent for the automatic loom was sold to the British company Platt Brothers, generating the starting capital for the automobile development. The production of Toyota automobiles was started in 1933 as a division of Toyoda Automatic Loom Works devoted to the production of automobiles under the direction of the founder's son, Kiichiro Toyoda.Its first vehicles were the A1 passenger car and the G1 in 1935. The Toyota Motor Co. was established as an independent company in 1937 Toyoda Standard Sedan AA 1936 Vehicles were originally sold under the name "Toyoda" (トヨダ), from the family name of the company's founder, Kiichirō Toyoda. In April 1936, Toyoda's first passenger car, the Model AA, was completed. The sales price was 3,350 yen, 400 yen cheaper than Ford or GM cars. House of Toyota founder Kiichiro Toyoda, near Toyota City In September 1936, the company ran a public competition to design a new logo. Of 27,000 entries, the winning entry was the three Japanese katakana letters for "Toyoda" in a circle. But Rizaburo Toyoda, who had married into the family and was not born with that name, preferred "Toyota" (トヨタ) because it took eight brush strokes (a lucky number) to write in Japanese, was visually simpler (leaving off the diacritic at the end), and with a voiceless consonant instead of a voiced one (voiced consonants are considered to have a "murky" or "muddy" sound compared to voiceless consonants, which are "clear"). Inside the house of Toyota founder Kiichiro Toyoda, near Toyota City Since toyoda literally means "fertile rice paddies", changing the name also prevented the company from being associated with old-fashioned farming. The newly formed word was trademarked and the company was registered in August 1937 as the Toyota Motor Company. From September 1947, Toyota's small-sized vehicles were sold under the name "Toyopet" (トヨペット).The first vehicle sold under this name was the Toyopet SA,but it also included vehicles such as the Toyopet SB light truck, Toyopet Stout light truck,Toyopet Crown, Toyopet Master, and the Toyopet Corona. The word "Toyopet (Japanese article)" was a nickname given to the Toyota SA due to its small size, as the result of a naming contest the Toyota Company organized in 1947. However, when Toyota eventually entered the American market in 1957 with the Crown, the name was not well received due to connotations of toys and pets.The name was soon dropped for the American market, but continued in other markets until the mid-1960s. By the early 1960s, the US had begun placing stiff import tariffs on certain vehicles. The so-called "chicken tax" of 1964 placed a 25% tax on imported light trucks.In response to the tariff, Toyota, Nissan Motor Co. and Honda Motor Co. began building plants in the US by the early 1980s. Toyota received its first Japanese Quality Control Award at the start of the 1980s and began participating in a wide variety of motorsports. Due to the 1973 oil crisis, consumers in the lucrative US market began turning to small cars with better fuel economy. American car manufacturers had considered small economy cars to be an entry-level product, and their small vehicles employed a low level of quality to keep the price low. Conservative Toyota held on to rear-wheel-drive designs for longer than most; while a clear first in overall production they were only third in production of front-wheel-drive cars in 1983, behind Nissan and Honda. In part due to this, Nissan's Sunny managed to squeeze by the Corolla in numbers built that year. In 1982, the Toyota Motor Company and Toyota Motor Sales merged into one company, the Toyota Motor Corporation. Two years later, Toyota entered into a joint venture with General Motors called the New United Motor Manufacturing, Inc, NUMMI, operating an automobile-manufacturing plant in Fremont, California. The factory was an old General Motors plant that had been closed for two years. Toyota then started to establish new brands at the end of the 1980s, with the launch of their luxury division Lexus in 1989. In the 1990s, Toyota began to branch out from producing mostly compact cars by adding many larger and more luxurious vehicles to its lineup, including a full-sized pickup, the T100 (and later the Tundra), several lines of SUVs, a sport version of the Camry, known as the Camry Solara, and the Scion brand. They would also launch newer and arguably more iconic iterations of their sports cars, namely the MR2, Celica, and Supra during this era, all of which have already become icons of the 1990s. With a major presence in Europe, due to the success of Toyota Team Europe, the corporation decided to set up Toyota Motor Europe Marketing and Engineering, TMME, to help market vehicles in the continent. Two years later, Toyota set up a base in the United Kingdom, TMUK, as the company's cars had become very popular among British drivers. Bases in Indiana, Virginia, and Tianjin were also set up. In 1999, the company decided to list itself on the New York and London Stock Exchanges.