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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.

5,000 Toyota Prius V models recalled due to airbag issue

Toyota has issued a recall of roughly 5,000 Prius V hybrids. All of the affected vehicles are from model years 2014 and 2015. The problem with the hybrid MPVs centers on its Occupant Classification System. According to the company, the OCS is responsible for activating and deactivating the passenger's side airbag, and in the affected models, the system may not have been calibrated correctly. Should a crash occur, the passenger front airbag may not deploy. The company reports there have been no injuries or fatalities related to the OCS faulty calibration. Owner will be notified and will, naturally, be asked to report in for a free recalibration. TOYOTA RECALLS CERTAIN 2014-2015 MODEL YEAR PRIUS V VEHICLES TORRANCE, Calif. – Toyota Motor Sales, U.S.A., Inc., today announced plans to conduct a safety recall of approximately 5,000 Model Year 2014-2015 Prius V vehicles. In the involved vehicles, the front passenger seat is equipped with an Occupant Classification System (OCS), which activates / deactivates the passenger seat air bag system depending on the weight of the seat occupant. There is a possibility that some OCS's may not have been calibrated properly during the vehicle manufacturing process. Under some conditions, this could result in no deployment of an airbag, increasing the risk of an injury to a front seat passenger in the event of crash. Toyota is not aware of any injuries or fatalities caused by this condition. Owners of the involved vehicles will receive a notification by first class mail. Toyota dealers will recalibrate the Occupant Classification System properly. Detailed information is available at www.toyota.com/recall and by calling Toyota Customer Service at 1-800-331-4331. ###

Detroit 3 to implement delayed unified towing standards for 2015

Car buyers have a responsibility to be well-informed consumers. That's not always a very simple task, but some guidelines are self-evident. If you live in a very snowy climate, you generally know a Ford Mustang or Chevrolet Camaro might not be as viable a vehicle choice as an all-wheel drive Explorer or Traverse, for example. If you want a fuel-efficient car, it's generally a good idea to know the difference between a diesel and a hybrid. But what if it's kind of tough to be an informed consumer? What if the information you need is more difficult to come by, or worse, based on different standards for each vehicle? Well, in that case, you might be a truck shopper. For years, customers of light-duty pickups have had to suffer through different ratings of towing capacities for each brand. For 2015 model year trucks, though, that will no longer be a problem. According to Automotive News, General Motors, Ford and Chrysler Group have announced that starting with next year's models, a common standard will be used to measure towing capacity. The Detroit Three will join Toyota, which adopted the Society of Automotive Engineers' so-called SAE J2807 standards way back in 2011. The standard was originally supposed to be in place for MY2013, but concerns that it would lower the overall stated capacity for trucks led Detroit automakers to pass. Ford originally passed, claiming it'd wait until its new F-150 was launched to adopt the new standards, leading GM and Ram to follow suit. Nissan, meanwhile, has said it will adopt the new standards as its vehicles are updated, meaning the company's next-generation Titan should adhere to the same tow ratings as its competitors. While the adoption of SAE J2807 will be helpful for light-duty customers, those interested in bigger trucks will still be left with differing standards. There is no sign of the new tow standards being adopted for the heavy-duty market.