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Toyota racks up $18-billion profit

Toyota is looking strong at the end of the fiscal year with its net revenue showing six percent growth to the equivalent of $227 billion. Operating income grew to $23 billion in that period, a 20-percent jump, and net income increased to $18.1 billion, a 19-percent advancement. The company attributes the positive numbers to cost reductions and the weak yen compared to other currencies. Toyota increased its operating income in every major region, but despite these ballooning figures, total sales globally actually fell slightly to almost 9 million – 144,149 fewer than last year. The automaker's biggest division in terms of units was North America, and it accounted for 2.7-million vehicles during the fiscal year. Operating income amounted to $4.5 billion there. Meanwhile, Japan ranked as the most lucrative territory. Sales there fell by about 200,000 vehicles to a total of 2.15 million. However, operating income for the fiscal year more than doubled to $13.1 billion. In its forecasts for the next fiscal year, Toyota predicts global sales to remain roughly the same as this year at 8.9 million vehicles. Net revenue and net income are expected to make slight gains, though. Related Video: TMC Announces Financial Results for Fiscal Year Ended March 31, 2015 (All consolidated financial information has been prepared in accordance with U.S. generally accepted accounting principles) Toyota City, Japan, May 8, 2015-Toyota Motor Corporation (TMC) today announces its financial results for the fiscal year ended March 31, 2015. Consolidated vehicle sales totaled 8,971,864 units, a decrease of 144,169 units compared to the previous fiscal year. On a consolidated basis, net revenues for the period totaled 27.23 trillion yen, an increase of 6.0 percent. Operating income increased from 2.2921 trillion yen to 2.7505 trillion yen, while income before income taxes1 was 2.8928 trillion yen. Net income2 increased from 1.8231 trillion yen to 2.1733 trillion yen. Operating income increased by 458.4 billion yen. Major factors contributing to the increase included currency fluctuations of 280.0 billion yen and cost reduction efforts of 280.0 billion yen.

Toyota recalls pre-collision system on Avalon and ES models

Toyota is recalling 31,000 US examples of the 2013-2015 Avalon, Avalon Hybrid, Lexus ES350, and ES 300h because the Pre-Collision System could potentially cause an accident. According to the company, it's possible for the safety aid to misidentify a steel joint or plate in the road as a hazard and apply the brakes. The sudden, unexpected activation could lead to a crash. Toyota spokesperson Cindy Knight told Autoblog that the company has reports of two accidents in the US related to this issue, and there are also two alleged injuries. The company has no reports of fatalities. Toyota is taking a serious approach to deal with this problem. First, the company plans to disable the system on these sedans. Once the parts are available, dealers will replace the system with improved components. The company doesn't yet know when these repairs will begin, but owners should receive notification of the recall in November, according to Knight. Toyota isn't alone in needing to tweak safety equipment. Ford faced a similar issue when the company recalled 36,857 examples of the 2015 F-150 because passing a large, reflective semi could inadvertently activate the collision warning system. An update for the adaptive cruise control module software fixed the problem. TOYOTA RECALLS CERTAIN AVALON AND LEXUS ES VEHICLES TORRANCE, Calif., November 3, 2015 – Toyota Motor Sales, USA, Inc. today announced that it is conducting a safety recall of approximately 31,000 Model Year 2013-2015 Avalon, Avalon Hybrid, Lexus ES350 and ES300h sedans. In the involved vehicles, under certain situations, the PCS (Pre-Collision System) could interpret a steel joint or plate in the roadway as an object that triggers PCS activation. If this occurs, the PCS warning buzzer sounds and the system may apply the service brake automatically. Unexpected braking could increase the risk of a crash. For all involved vehicles, the PCS function will be disabled as an interim remedy. As the permanent remedy, Toyota dealers will replace PCS components with improved ones. Information about automotive recalls, including but not limited to the list of involved vehicles, is subject to change over time. For the most up-to-date Safety Recall information on Toyota, Lexus or Scion vehicles, customers should check their vehicle's status by visiting toyota.com/recall and entering the Vehicle Identification Number (VIN). Safety Recall inquiry by individual VIN is also available at the NHTSA site: safercar.gov/vin.

Toyota increasing Yaris Hybrid production to 222,000 this year in France

More fuel economy means more factory workers and more production for Toyota's most popular model in Europe. That simple equation explains why the Japanese automaker is boosting annual production of its gas- and hybrid-powered Yaris compact vehicles at its French factory. The new number will be about 222,000, a 15 percent increase. To do that, Toyota will need to add about 500 workers to bring its total there to more than 4,000, UK's The Green Car Website says. Vive le Toyota! Toyota updated the European Yaris in the middle of 2011 and added a hybrid version later that year, the model has many fans across the pond. It helps that they hybrid is rated (using the friendlier European standards) at a whopping 81 miles per gallon, a tremendous number for a car that costs approximately $26,000. Toyota could soon have a bit more room in the small hybrid segment, since it was reported recently that Honda would discontinue European sales of its Insight and CR-Z hybrids soon. That decision was made easier because of increasing competition from Toyota, which boosted hybrid sales in Europe last year by 43 percent. In contrast, both the CR-Z and Insight experienced more than a 60-percent plunge in European sales in 2013.