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Unintended acceleration settlement hits Toyota's Q4 bottom line

Depending on how you want to look at things, the US Attorney's Office $1.2-billion dollar settlement with Toyota in March over its unintended acceleration recall was either a big blow to the company or completely inconsequential. From January to March, net income fell five percent to 297 billion yen ($2.89 billion), compared to 313.9 billion yen ($3.05 billion) a year ago. However, the automaker still posted record full-year profits worldwide.
Operating profit also fell in the US by 9 percent to $498.1 million for the quarter, but sales were up by 6 percent to 581,261 vehicles. According to Automotive News, global revenue was still up from January to March by about 13 percent and vehicle sales were up 6 percent to 2.58 million units.
However, the payment to the feds did little to hold the company back last year. For the fiscal year ending March 31, 2014, Toyota had net income of 1.82 trillion yen ($17.7 billion), compared to 962.1 billion yen ($9.5 billion) in the last fiscal year. Total vehicle sales were also up.

Toyota Yaris iA, Mazda CX-3 sales show crossover formula isn't an automatic win

While 2017 was another watershed year for crossovers, in one interesting case, a crossover had its lunch eaten by its sedan counterpart. In the past year, Toyota sold nearly 36,000 Yaris iAs, a sedan that is identical to the foreign-market Mazda2 in everything but Toyota's ugly front bumper. In the same time frame, Mazda sold just over 16,000 CX-3s, a subcompact crossover based on the Mazda2. Not only that, but the Yaris iA saw an increase of around 8,000 units over 2016, and the CX-3 sold about 2,000 fewer units than in 2016. View 29 Photos There are a few reasons this is surprising. First of course is that the crossover market is surface-of-the-sun hot right now, so much so that primarily crossover-building brand Subaru saw its best sales year ever last year. Even Mazda's other crossovers, the CX-5 and CX-9 saw better sales in 2017 than in 2016. But on paper, the CX-3 has a number of advantages compared to the Yaris iA. The CX-3 has a larger 2.0-liter four-cylinder that makes about 40 more horsepower than the 1.5-liter engine in the Toyota. Also, while the cargo area behind the rear seats in the CX-3 is about one cubic foot smaller than the iA, it has the added flexibility of being a hatchback, and thus having more capability when it comes to large, bulky items. And of course, the CX-3 is quite a shapely machine compared with the awkward, angry-looking iA. That's not to say the iA doesn't have any of its own advantages. It gets 3 more mpg in the city and 6 more on the highway than the CX-3. It also costs roughly $3,000 to $4,000 less than a CX-3 and can be found at more dealers than the Mazda. But it's still surprising that a car, especially a sedan, can outsell a mechanically very similar crossover. Apparently the formula of adding more ground clearance and plastic fenders isn't foolproof. Then again, maybe it's not such a big deal to Mazda, since the CX-3's total sales were just over a tenth that of the Mazda CX-5. Related Video:

Oh, Kei Go: Toyota set to enter JDM minicar market?

Toyota is looking to get bigger... by going smaller. The Japanese automaker is looking to enter the kei car market, a popular segment in its homeland. Kei cars are small vehicles with restrictions on length (11.15 feet), width (4.86 feet), engine size (660 cubic centimeters) and power output (63 horsepower). Currently, Toyota is the only Japanese automaker not producing vehicles for this segment, but that is set to change, according to a report from The Wall Street Journal.
Thanks to its relationship with Daihatsu, Toyota can jump right into the kei car game. Daihatsu is one of the largest producer of kei vehicles and it is currently owned by Toyota.
Although kei cars are restricted in terms of size and power, they are not restricted by technology. Automakers utilize different drive configurations, powertrains and amenities to keep their cars fresh. Daihatsu and Toyota plan to work together to produce Toyota-branded kei cars. The two companies will utilize Toyota's knowledge of electric and hybrid systems to produce efficient little vehicles for the Japanese market.