The world's economy is such that even Toyota Motor Corporation, whose upward arc seemed unstoppable, says that it expects its first operating loss this fiscal year. Given Toyota's past success, however - it's the world's fifth largest corporation and was running neck and neck with GM to win the 2008 global sales derby - expect Toyota to weather the current economic storm.

Toyota traces its start to 1926, when Sakichi Toyoda founded a loom works. Now called Toyota Industries, it still makes looms (now computerized) and sewing machines. The company made its first vehicles 75 years ago and created Toyota Motor Corp. two years later (1937).

Toyota cars first arrived in America in 1957, but the under-powered Crown barely registered on the public's radar. The company's second try, the 1965 Toyota Corona, had far better results. Corolla, the world's all-time top-selling vehicle, followed in 1968.

The 1971 Celica (the model survived until 2005) won Motor Trend's Import Car of the Year award, the first of four in the 1970s, and, by 1975, Toyota was outselling all import nameplates. It was the first importer to top a million in U.S. vehicle sales and started making cars here in 1984.

With a philosophy called the "Toyota way" that emphasizes low defects, reliability and just-in-time locally made vehicles, the automaker's growth continued in the 1980s with Tercel (1980-98) and 4Runner (1983-present). Toyota completed a prosperous decade by launching its Lexus luxury brand in 1989.

The 1990s saw the arrival of many models still on the market. These include the very popular Camry (1992), the full-size Avalon sedan and compact Tacoma pickup (both 1995), the mid-size RAV4 sport utility (1996), and the Camry Solara and Sienna minivan (both 1998). Production in Japan topped 100 million vehicles in 1999 and the half-ton Tundra pickup (2000) capped the 20th century. That same year, the second-generation Avalon became the first Toyota designed and built in America.

The new models kept on coming in the new century. The mid-size Highlander and full-size Sequoia SUVs (2001) got things started, followed by the Matrix crossover (2003), the sub-compact Yaris (2006) and the FJ Cruiser (2007). Toyota also introduced Scion, a make aimed at younger buyers. In 2002, Toyota made its 10 millionth North American vehicle and started exporting - to Japan. A year later, Toyota sold its 30 millionth vehicle in the U.S. and passed Ford to take the number two slot in world auto sales.

No Toyota history is complete without mentioning Prius, the best-selling gas/electric hybrid. The vehicle, which helped the company become the largest seller of hybrids in America, debuted in Japan in 1997 and reached our shores four years later. The third generation Prius was unveiled less than two weeks ago. It's one of three Toyota hybrids along with Camry and Highlander models.

Any Toyota history should also consider its racing pedigree. Toyota races in Formula 1 Grand Prix and has numerous driver and manufacturer championships. There's also an Indy 500 victory and wins at the 24 Hours of Daytona, 12 Hours of Sebring and the Pikes Peak Hill Climb. Last year, Tundra won NASCAR's Craftsman Truck Series, while Toyotas, Lexuses or Scions won Grand-Am, USAC, NHRA, NASCAR Busch Series and off-road races. And Camry is now a player on NASCAR's top Nextel Cup circuit.

The only two current Toyota models not mentioned above are the all-new-for-2009 Venza crossover and Toyota's oldest model, the Land Cruiser luxury SUV, which was born in the late 1940s. And even though it must deal with its first down year, Toyota can take pride in how far it's climbed since making its first vehicle 75 years ago.