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Toyota GT86 convertible on 'indefinite hold'

Bad news, sportscar fans. According to a new report from What Car?, Toyota has cancelled plans to produce a GT86 convertible, a model based on the FT-86 Open Concept that debuted at the 2013 Geneva Motor Show. In truth, Toyota never actually confirmed it would produce the budget-friendly droptop in the first place, but rumors have been flying since last year and Toyota reportedly showed its embattled Scion dealers a FR-S version of the convertible in August. Presumably, this means that a lidless variant of the Subaru BRZ is not in the cards, either.
The reason for the move is unknown, though What Car? reports "one possible cause is weight; Toyota did say that further work would be required on rigidity before the convertible could be launched, and that could have added extra bulk that conflict with the regular GT86's ethos of light weight and agile handling." It doesn't look like that work will happen anytime soon, as "sources now say that the car has now been delayed indefinitely, with no place in Toyota's product plan in either 2014 or 2015." Still holding out hope? What Car? says the project could be "fast-tracked" if management decides it wants to reboot the program down the road.
one possible cause is weight; Toyota did say that further work would be required on rigidity before the convertible could be launched, and that could have added extra bulk that conflict with the regular GT86's ethos of light weight and agile handling. - See more at: http://www.whatcar.com/car-news/toyota-gt86-cabriolet-cancelled/1214782#sthash.iStIkWnz.dpuf

Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.

Toyota moving US headquarters to Plano, Texas

It's official, Toyota is relocating its US operations to Plano, TX. And it won't be a symbolic 'all ranch and no cattle' gesture - the Japanese automaker, whose headquarters have been in California since 1957, has decided to base nearly all of its operations in the Lone Star State, including much of its engineering, finance and sales and marketing teams.
The move, which will see the establishment of a new headquarters campus in the Dallas suburb will not only affect employees at the company's current Torrance, CA Toyota Motor Sales USA campus, it will also touch the lives of thousands of employees at the company's other operations, including 1,000 workers at Toyota Motor Engineering & Manufacturing North America in Erlanger, KY and some New York-based staff as well. The Toyota Technical Center in Ann Arbor, MI is not facing relocation, however, and it actually stands to gain responsibilities as Toyota overhauls its US org chart. Toyota says that its reorganization will affect about 4,000 employees in total.
According to Automotive News, while Toyota is adopting an "'everyone is invited' stance for the relocation," some attrition is expected from employees who aren't interested in relocating southward from the Golden State. For its part, the automaker is reportedly making expenses-paid visits to Plano available to full-time staffers and spouses to help them make the relocation decision, as well as a lump-sump payment if they decide to go through with the move.