Dr. Albert Wessels, the founder of Toyota South Africa, believed the Toyota company should have a symbol associated with it. So his passion for horses led to the development of a unique identity for "Toyota South Africa" – namely the addition of a white stallion encircled in a red background. However, this symbol was never placed on any vehicle. In the '70s the circle was replaced with a red square with rounded edges. Toyota did not have a worldwide logo until October of 1989 which was introduced then to commemorate its 50th year anniversary. Before that, there were no guidelines for the use of the brand name of TOYOTA. Hope this helps.
It's still a horse !!
I'm glad I could tease you guys and maybe make you a little angry BUT most of all make you SMILE !!
BTW. I am a huge Ferrari Fan and think this is one of their most beautiful designs yet to date!