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Toyota on Tuesday forecast a sharp drop in sales and operating profit over the coming year as the Japanese giant suffers from the "wide-ranging, significant and serious" fall-out from the coronavirus pandemic that has shredded the global auto market. The manufacturer said its operating profit for the fiscal year ending in March 2021 was expected to dive 79.5 percent and declined to even give a forecast for net profit. Toyota also forecast a near-20 percent drop in annual sales, with every region suffering a slump, led by Europe and Asia.
GM has put in a litany of protocols to keep workers safe as they return to manufacturing plants later in May.
Owners of Toyota Prius, Camry and Avalon Hybrids hit the automaker with a class-action lawsuit regarding a brake defect according to Hagens Berman.
Japanese auto giant Toyota said Friday it would keep its Chinese factories shut until February 16, extending its suspension by a week amid the growing coronavirus crisis. "After considering various factors including guidelines from local and regional governments... we've decided to continue our suspension of production at all Toyota plants in China until February 16," spokesman Aaron Fowles told AFP. The virus has now claimed more than 630 lives, mainly in China, but has also spread to several other countries and played havoc with global supply chains.
Japanese car giant Toyota on Thursday reported a surge in net profit on record sales for the nine months to December, and upgraded its full-year profit forecasts. Toyota said net profit for April-December surged 41.4 percent on-year to 2.0 trillion yen ($18 billion) with sales up 1.6 percent at 22.8 trillion yen, the highest ever for the period. The profit jump was mainly due to strong revenue, cost-cutting efforts and gains in shares it holds.
Toyota on Friday said it was moving assembly operations for its popular Tacoma pickups from the United States to Mexico but pledged that no US jobs would be affected. The announcement came a day after the US Senate approved the new US-Mexico Canada Agreement on trade, which importantly revamps the rules for manufacturing and cross-border trade in autos. Since 2010, the Tacoma has been produced at a plant in San Antonio, Texas that employs 3,200 workers with an annual capacity of 208,000 vehicles.
Japanese car giant Toyota said Thursday it is investing nearly $400 million in a company working on commercialising electric flying cars for "fast, quiet and affordable air transportation services". The investment in Joby Aviation comes as the automaker looks to expand into new sectors as the industry rapidly transforms, with president Akio Toyoda pledging to move the firm "from a car manufacturer to a mobility company". "Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky," Toyoda said in a statement announcing the investment.
Japanese car giant Toyota on Thursday reported record net profit and sales for the first half, with cost-cutting efforts helping to boost its balance sheet. The maker of the Camry sedan and Prius hybrid reported net profit rose 2.6 percent to 1.27 trillion yen ($11.7 billion) in April-September. The company kept its full-year net profit forecast at 2.15 trillion yen and operating profit at 2.4 trillion yen on sales of 29.5 trillion yen, though it made a minor change to its forecast for pre-tax profit.
Toyota showcases its next-generation hydrogen-powered Mirai model at Wednesday's Tokyo Motor Show, but with the technology still lagging behind electric, the Japanese firm is hoping for an Olympic boost. The automaker is a lead sponsor of the global sporting event through 2024, and will include around 500 of the new fuel-cell vehicles in a 3,700-strong fleet to be used during the Tokyo Games next summer. Adoption of fuel-cell electric vehicles (FCEVs) has been slow compared with electric cars powered by lithium-ion batteries.
While top U.S. auto giants General Motors (GM) and Ford (F) issue vehicle recalls recently, recreational vehicle manufacturer Winnebago Industries (WGO) inks a deal to buy Newmar.
Toyota said on Wednesday it will take a nearly five-percent stake in small-car specialist Suzuki Motor, the latest tie-up in the rapidly changing global auto industry. The smaller partner in turn will buy Toyota shares worth 48 billion yen through the market, which amounts to roughly 0.2 percent of the firm. Toyota and Suzuki had in 2017 signed a memorandum of understanding to discuss an operational tie-up.
Greg Migliore, editor-in-chief of Autoblog, believes it'd be a 'brilliant move' for Volkswagen to really look at buying Tesla and it will give it a 'critical edge'.
The city of Rexburg will be honored in a special ceremony at 10:30 am Thursday, Aug. 22, in front of hundreds of students and dignitaries at Madison Middle School, 575 W. 7th St., as one of five winning cities in the annual Wyland National Mayor’s Challenge for Water Conservation. The event will recognize the efforts of Rexburg residents who pledged in April to reduce water use by 42 million gallons over the next year and make lifestyle changes to guard against future water shortages. Presented each April by the Wyland Foundation and Toyota, with support from the U.S EPA, National League of Cities, The Toro Company, Earth Friendly Products – maker of ECOS, and Conserva Irrigation, the mayor’s water challenge addresses the growing importance of educating consumers about the many ways they use water.