2001 Toyota Celica Gt on 2040-cars

Auto blog

Toyota investing $750M, adding 600 jobs at 5 U.S. plants

BUFFALO, W.Va. — Toyota on Thursday announced it is investing an additional $750 million at five U.S. plants that will bring nearly 600 new jobs, including the production of two hybrid vehicles for the first time at its Kentucky facility. It marks yet another expansion of the Japanese automaker's U.S. presence, bringing to nearly $13 billion the amount it will spend by 2021. The latest investments are at facilities in Alabama, Kentucky, Missouri, Tennessee and West Virginia. Those same facilities were part of a 2017 announcement by Toyota for a $374 million investment to support production of its first American-made hybrid powertrain. Toyota Motor North America CEO Jim Lentz said the latest investments "represent even more examples of our long-term commitment to build where we sell. By boosting our U.S. manufacturing footprint, we can better serve our customers and dealers and position our manufacturing plants for future success with more domestic capacity." Toyota's Georgetown, Kentucky, facility will get a $238 million infusion to produce hybrid versions of Lexus ES 300 sedans starting in May and the Rav4 SUV starting in January 2020, the company announced. It also includes $288 million to increase annual engine capacity at Toyota's Huntsville, Alabama, facility. The plant will add 450 jobs to accommodate new four-cylinder and V6 engine production lines. Last year Toyota and Mazda announced plans to build a $1.6 billion joint-venture plant in Huntsville that will eventually employ about 4,000 people. Toyota also is spending $62 million on equipment to boost production of Toyota and Lexus cylinder heads at its Bodine Aluminum facility in Troy, Missouri, as part of its cost-saving New Global Architecture production strategy to share common parts and components among different vehicles. A $50 million expansion and equipment upgrade at its Bodine plant in Jackson, Tennessee, will add 13 jobs and produce engine blocks while doubling the capacity of hybrid transaxle cases and housings. And Toyota will add 123 jobs and spent $111 million to expand its plant and purchase equipment in Buffalo, West Virginia, to double the capacity of hybrid transaxles. Previously, Toyota also announced a $600 million investment at its Princeton, Indiana, plant to increase the capacity of its Highlander SUV and to incorporate the new production strategy, and $170 million to launch the 2020 Corolla on a new production line in Blue Springs, Mississippi.

Toyota ending Prius Plug-In production in June

The fourth-generation Toyota Prius and it's potential 58 miles per gallon fuel economy isn't due until later this year at the earliest, and some folks suspect it will be well into next year. But at least you'll still be able to buy one until it arrives; the same can't be said for the plug-in Prius - "Pip" to its friends - that will cease production this June. Nathan Kokes, a marketing representative in Toyota's Advanced Technology division, made the announcement on the forum Prius Chat without giving any reason for the decision. Inside EVs says there about 1,100 Prius PHVs in stock at dealers, which would last for just under three months at the average sales rate this year. Assuming no changes in production to boost stocks, that would give you until the end of summer to fulfill your first-generation Prius PHV dreams, then there'd be a drought for an unknown length of time. For the conspiracy theorists looking to the sales numbers or the Mirai launch for cause, Kokes did join the chat thread once after the announcement to say that "will have plenty of Prius Plug-in Hybrids to sell long after [June]," and, "production plans and product cadence are in no way timed to any external incentive (i.e., CA HOV sticker), competitive product or the upcoming Mirai launch." With Toyota having delayed the standard car to get it just right, there's no telling how long the plug-in version will take since it aims to satisfy high-order customer demands like wireless charging and more electric range, and perhaps the rather long list of "minor" changes that include things like more paint options, HVAC operation, the placement of the charge port, and more driver convenience features. Related Video: News Source: Prius Chat via Inside EVs Green Plants/Manufacturing Toyota Car Buying Hatchback Hybrid toyota prius plug-in

These are the cars with the best and worst depreciation after 5 years

The average new vehicle sold in America loses nearly half of its initial value after five years of ownership. No surprise there; we all expect that shiny new car to start depreciating as soon as we drive it off the lot. But some vehicles lose value a lot faster than others. According to data provided by iSeeCars.com, trucks and truck-based sport utility vehicles generally hold their value better than other vehicle types, with the Jeep Wrangler — in both four-door Unlimited and standard two-door styles — and Toyota Tacoma sitting at the head of the pack. The Jeep Wrangler Unlimited's average five-year depreciation of 30.9% equals a loss in value of $12,168. That makes Jeep's four-door off-roader the best overall pick for buyers looking to minimize depreciation. The Toyota Tacoma's 32.4% loss in initial value means it loses just $10,496. The smaller dollar amount — the least amount of money lost after five years — indicates that Tacoma buyers pay less than Wrangler Unlimited buyers, on average, when they initially buy the vehicle. The standard two-door Jeep Wrangler is third on the list, depreciating 32.8% after five years and losing $10,824. Click here for a full list of the top 10 vehicles with the least depreciation over five years. On the other side of the depreciation coin, luxury sedans tend to plummet in value at a much faster rate than other vehicle types. The BMW 7 Series leads the losers with a 72.6% drop in value after five years, which equals an alarming $73,686. BMW's slightly smaller 5 Series is next, depreciating 70.1%, or $47,038, over the same period. Number three on the biggest losers list is the Nissan Leaf, the only electric vehicle to appear in the bottom 10. The electric hatchback matches the 5 Series with a 70.1% drop in value, but since it's a much cheaper vehicle, that percentage equals a much smaller $23,470 loss. Click here for a full list of the top 10 vehicles with the most depreciation over five years.