Crompton & Company, a British firm, introduced an iron wire electric toaster in 1893. Iron wire toasters were unreliable and prone to catch fire.
The first electric toasters were patented and sold around 1909. General Electric, Hotpoint and Simplex all had electric toasters on the market at this time. But they were NOT automatic - these were manual toasters - no timer and no pop-up.
In 1909 the General Electric D-12 became the first commercially successful electric toaster. It used a nickel chromium alloy, which made the toasters more reliable and nonflammable.
The first Automatic Pop-up toaster was marketed in June 1926 by McGraw Electric Co. in Minneapolis under the name Toastmaster 1-A-1. The retail price was $13.50.