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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.

Toyota's Texas move could boost state's economy by $7.2B in 10 years

They say everything is bigger in Texas, and apparently that includes the Toyota's effect on the economy. The giant Japanese automaker's new headquarters in Plano, TX, will add an estimated $7.2 billion to the state over the next 10 years, according to a new study commissioned by the city and cited by Bloomberg.
The benefits appear to be an absolute steal compared to the direct incentives that Plano and the state are giving Toyota. The report finds that by the time the automaker's campus is complete in 2018, it could have 3,650 full-time workers there at an average salary of $104,000. The city has prepared $6.75 million in grants, plus property tax discounts, according to Bloomberg. In addition to that, the state is offering the business $40 million in incentives from its Texas Enterprise Fund. This is still a fraction of what Toyota is estimated to bring in.
Toyota announced in April that it would move its US operations to Plano after being headquartered in California since 1957. The move affects thousands of employees from the sales and engineering divisions. The first workers will arrive there this fall, but Toyota will eventually have a whole campus in Plano by late 2017. The move is expected to save it huge amounts in taxation and offer employees a lower cost of living. Toyota North America CEO Jim Lentz also says that the Texas location puts the headquarters closer to more of the business' factories in the south. Texas certainly appears to be showing it some southern hospitality.

Recharge Wrap-up: Audi to build Q6 e-tron in Brussels, Boris Johnson test drives Toyota Mirai

Audi will build the Q6 e-tron at its factory in Brussels, Belgium. Production for the electric vehicle - which will be based on the concept car from the Frankfurt Motor Show in September - is slated for 2018. Its expected driving range of about 311 miles should help make it competitive against the Tesla Model X. Audi's Brussels plant is also where the A1 is made. It employs about 2,500 workers and produced about 115,000 vehicles in 2014. Read more from Automotive News Europe. During a visit to Toyota Headquarters, London Mayor Boris Johnson confirmed that Transport for London will be the UK's first Toyota Mirai customer. Mayor Johnson traveled to Japan on a three-day trade mission, and took a test drive of the fuel cell vehicle. "By embracing this technology of the future, we aim to consolidate hydrogen's role as a practical alternative fuel for the 21st century and beyond," says Johnson. "I am sure that Transport for London will provide the ideal environment for us to see everything Mirai can do and, in doing so, take another great step towards improving air quality in our city and protecting the health of Londoners." Read more from Toyota, or at Green Car Congress. The South Coast Air Quality Management District (SCAQMD) has delivered 12 electric commercial lawn mowers to government and nonprofit organizations in San Bernardino County. The donation of the electric mowers is part of a demonstration program to promote zero-emissions equipment. At prices ranging from $3,000 to $20,000, the electric mowers cost about 25 percent more than their gas-powered counterparts, but their lower operating costs can make up for the price difference in about two years. In addition, they produce about half the noise, and save about 600 pounds of harmful emissions per year. SCAQMD plans to deliver five more of the mowers as part of the same program. Read more in the press release below. SCAQMD Launches Nation's Largest Zero-Emission Commercial Lawn Mower Demonstration Program in San Bernardino SAN BERNARDINO, Calif., Oct. 13, 2015 /PRNewswire-USNewswire/ -- The South Coast Air Quality Management District today delivered a dozen new, battery-electric commercial lawn mowers to agencies in San Bernardino County as part of a long-term demonstration program to promote the zero-emission equipment.