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Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Momkhana goes drifting with a V8 minivan in the 'burbs

Ken Block probably never expected that he would launch countless imitators when he released Gymkhana years ago, but by now we've seen the concept broadened for everything from toy cars to Crazy Carts. The latest parody is Momkhana, and it moves the setting to the suburbs for a trip to the shoe store. Before you completely write off the idea, though, keep in mind the vehicle making the commute is a drift-happy, rear-wheel drive Toyota Sienna boasting an LS3 V8 with an estimated 550 horsepower. The significant increase in muscle certainly makes a drive to the strip mall a lot more entertaining. In addition to the engine transplant, the minivan gets a massive handbrake to allow for big slides through the neighborhood. The clip replicates many of the classic stunts from Block's Gymkhana videos but in new, rather absurd surroundings. So instead of long, smoky donuts in a warehouse, they happen at the end of a cul-de-sac. If you're curious to see how the video was done, Famous Footwear, which created the clip, also made a featurette showing off some of the van's preparation and filming behind the scenes. News Source: Famous Footwear via YouTube, Carscoops Toyota Minivan/Van Performance Videos gymkhana toyota sienna

US-built Corollas will soon be exported to Latin America, Caribbean

Toyota has announced plans to export the American-made Corolla south, to 18 countries in Latin America and the Caribbean by 2014. The move follows statements made to The Wall Street Journal by Toyota's South American leader, Steve St. Angelo, that spoke to Toyota's resolve in emerging American markets.
Toyota is expected to begin export production in April, with initial production of 7,500 Corollas in the first year, courtesy of its Tupelo, Mississippi assembly plant. Years of unpredictable swings in the value of the Japanese yen has seen Toyota push its manufacturing operations in other countries, particularly the US, where its builds ten different models.
Scroll down to read the full press release from Toyota.