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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.

2019 Chicago Auto Show Truck Roundup: Toyota, Ford, Chevy and Ram bring it

The 2019 Chicago Auto Show features an array of heavy-duty trucks, smaller trucks, other kinds of trucks, and well, more trucks. That means new versions of the 2020 Chevy Silverado Heavy Duty and 2020 Ford F-150 Super Duty, a refreshed 2020 Toyota Tacoma and a trick tailgate on the 2019 Ram 1500. Sound a little crazy? Morgan Stanley research says 68 percent of passenger vehicles sold in the United States last year were classified as light trucks. So actually, bring on the trucks! Here's some impressions on the Chicago reveals, plus our take on the 2020 Subaru Legacy sedan. — Toyota updated the 2020 Tacoma with some light but useful enhancements. An improved infotainment has new audio features and larger screens. The grilles and wheels are different, but nothing drastic. Toyota still offers nice differentiation across the Tacoma lineup, and the design tweaks are subtle but thoughtful. Toyota tends to stretch out the Tacoma's generations, so it's wise to keep modifying and iterating to keep pace in this competitive segment. — Staying with Toyota, the Land Cruiser Heritage Edition is a legit special model that fans of this historic nameplate will appreciate. An anchor of the Toyota line in the United States since 1958, the Land Cruiser's roots date to Toyota's 1951 BJ Series military vehicle. Two colors, Midnight Black and Blizzard Pearl, are exclusive to this model and look slick against the blacked-trimmed grille and lightly bronzed wheels. Inside, bronze stitching is used on the steering wheel, seats, center console and other parts. The best part? Land Cruiser spelled out in script on the rear pillar. It's a limited model (1,200 units) and pricing isn't out yet, but that badge is probably why you buy this SUV. — The 2020 Chevy Silverado HD gets imposing looks that differentiate it from the light-duty range, an eye-popping max towing capability of 35,500 pounds and some updated powertrain elements. A new gas-fed V8 that serves as the entry point is one of the highlights, and the 6.6-liter mill makes 401 hp and 464 lb-ft, up significantly over the old 6.0-liter. There's also a new Allison 10-speed transmission teaming with the Duramax diesel to achieve that lofty max towing figure. With an updated trailering system and a larger cabin, the Silverado HD range is comprehensively remade to fight Ram and Ford. — The 2020 Ford Super Duty is also redone, and like the Chevy line, it gets a new gas V8 checking in at 7.3 liters.

China sticking to its guns on EVs for the future

Automakers are obviously free to develop whatever next-gen, zero-emissions tech that they want. However, if a company wants to get on the good side of the Chinese government, that strategy better include some plug-in vehicles. The authorities there are lending major support to plug-ins at the moment, and its forcing the auto industry to play along. According to Bloomberg, Toyota, Volkswagen, Hyundai, and BMW are all launching dedicated EV brands with their joint venture partners, and as many as 40 electric models could hit the Chinese market this year alone. However, analysts don't think the vehicles are going to sell well. Instead, the launches are essentially a way for companies to play nice with the government and help get the approval to build factories in the country. Take Toyota as an example. The company is pushing the future of hydrogen hard with promotional films for the Mirai and engineers talking down fast-charging EVs. Still, the Japanese automaker is getting ready to launch two EV brands in China with its joint venture partners, according to Bloomberg. China's push for alternative fuels has been happening for a while, but it really kicked into high gear last year. The government has set a goal to improve fleet-wide economy by 40 percent by the end of the decade in order to spend less importing oil and for the population's health. The plan has shown some success so far with hybrid and EV sales growing early in 2015. Related Video: News Source: BloombergImage Credit: Kin Cheung / AP Photo Government/Legal Green BMW Hyundai Toyota Volkswagen Green Culture Technology Electric tax incentives chinese government