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Toyota outpaces Detroit rivals in profitability per vehicle

As the world's highest volume automaker in 2014, you would probably expect Toyota to project a healthy financial outlook for the end of its fiscal year on March 31. But thanks in large part to the weak value of the yen and a large number of export vehicles, the automaker could make about four times more than General Motors, despite selling just a few hundred thousand more cars than its Detroit competitor last year. Toyota forecasts the equivalent of $24.5 billion in earnings for the fiscal year, compared to $6.5 billion from GM in 2014. According to an analysis by The Detroit News, the Japanese automaker is expecting average earnings of $2,726 on each vehicle it sells, versus $994 from Ford and $654 from GM. The key to this massive success has less to do with Toyota's products and much more in the company's location. The yen's value to the dollar is at its lowest point in decades. Also, according to The News, the automaker exports about 45 percent of its Japan-assembled vehicles, meaning bigger profits in the conversion to foreign currencies. Coupled with strong demand in the US, and the business looks even better. Automakers in the US are peeved by Toyota's currency-based boost. According to The News, there are allegations of manipulation of the yen's value, and Ford president of the Americas Joe Hinrichs calls the problem the "major trade barrier of the 21st century." He thinks the Japanese companies are making about $2,000 per exported vehicle due to the conversion. Intriguingly, it wasn't that long ago when Japanese automakers were moving operations from the country due to the strong value of the yen to the dollar curtailing profits. Infiniti shifted production, and there were fears that Toyota might close some of its factories, as well. Related Video: News Source: The Detroit NewsImage Credit: Shizuo Kambayashim / AP Photo Earnings/Financials Plants/Manufacturing Toyota toyota earnings toyota profit

At meeting with automakers, Trump launches new attack on NAFTA

WASHINGTON — Ten American and foreign automakers went to the White House on Friday to push for a weakening of U.S. fuel efficiency standards through 2025, while President Donald Trump used the occasion to launch a fresh attack on the North American Free Trade Agreement that has benefited the companies. A draft proposal circulated by the U.S. Transportation Department would freeze fuel efficiency requirements at 2020 levels through 2026, rather than allowing them to increase as previously planned. Trump's administration is expected to formally unveil the proposal later this month or in June. "We're working on CAFE standards, environmental controls," Trump told reporters at the top of the meeting, referring to the Corporate Average Fuel Economy standards for cars and light trucks in the United States. Trump said he wants automakers to build more vehicles in the United States and export more vehicles. But much of the hour-long meeting focused on NAFTA. Trump blasted the pact involving the United States, Canada and Mexico as "terrible" and noted that negotiations to make changes sought by his administration were ongoing. "NAFTA has been a horrible, horrible disaster for this country and we'll see if we can make it reasonable," Trump said. Automakers have called NAFTA a success, allowing them to integrate production throughout North America and make production competitive with Asia and Europe, and have noted the increase in auto production over the past two decades with the deal in place. They have warned that changing NAFTA too much could prompt some companies to move production out of the United States. The chief executives of General Motors Co, Ford Motor Co, Fiat Chrysler, along with senior U.S. executives from Toyota Motor Corp, Volkswagen AG, Hyundai Motor Co, Nissan Motor Co, Honda Motor Co , BMW AG and Daimler AG met with Trump, as did the chief executives of two auto trade groups. Major automakers reiterated this week they do not support freezing fuel efficiency requirements but said they want new flexibility and rule changes to address lower gasoline prices and the shift in U.S. consumer preferences to bigger, less fuel-efficient vehicles.

Toyota, Morgan Spurlock say hydrogen can be bullsh*t

Toyota wants the world to know that it's not full of crap about hydrogen as the future of fuel. Months before the Mirai arrives at dealers on the West Coast, the automaker is trying to get the word out through documentary series called Fueled by Everything. In the first episode, director Morgan Spurlock (best known for Super Size Me) shows how to make the futuristic fuel cell sedan run on a load of dung. After some processing, anyway. The whole point of the series is to show viewers the myriad sources available to generate hydrogen, and Toyota starts at an attention-grabbing extreme. A pickup truck takes a bed full of cow manure and demonstrates the steps needed to make it into hydrogen for the Mirai. Of course, the new model gets lots of screen time, too. For those in the audience curious to learn more, Toyota also digs a little deeper into the generation process on the series' website. Fueled by Bullsh*t Toyota Taps Morgan Spurlock to Direct First Video in "Fueled by Everything" Series TORRANCE, Calif. (April 22, 2015) – Sometimes reality stinks. Toyota has tapped award-winning documentary filmmaker Morgan Spurlock to show how calling hydrogen fuel cell vehicles "bullsh*t" isn't far from the truth. "Fueled by Bullsh*t" is the first online video in a multi-part "Fueled by Everything" series aimed to educate a broad audience about the innovative ways hydrogen fuel can be made from renewable sources. Spurlock directed the 3-minute piece which features a dairy farmer and mechanical engineer as they follow cow manure from a mooing supply source to its ultimate use in powering the hydrogen fuel cell electric Toyota Mirai. "This project gave us the opportunity to dive into a world that most people don't understand but has the potential to change our world," said Spurlock. "Witnessing manure, something most of us view as being pretty disposable, being transformed into hydrogen fuel to power a car was pretty remarkable. I think this short film is pretty compelling evidence of what could be possible in the years ahead." Beyond high quality dung, hydrogen can be manufactured from other renewable energy sources like solar, wind and biogas from landfills. These production methods can result in a domestic and locally sourced fuel that powers the Mirai while emitting only water vapor from the tailpipe. The multi-series video campaign is launching through the Toyota Mirai website (www.toyota.com/mirai) and additional digital properties with paid online media support.