The founder of the company visited a fortune teller for advice before starting. She told him to change the "d" to a "t." She also told him that the car names should start with "c," which is why so many Toyota model names do.
There are lots of reasons I have read. Such as the number of brush strokes in Japanese, another is the actual meaning of the word. Toyoda has more to do with farming and Toyota has a totally different meaning.
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