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Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.

Drive like a prince: Join us for a walk through Monaco's car collection

Small, crowded, and a royal pain in the trunk lid to drive into during rush hour, Monaco sounds like an improbable location for a huge car museum. And yet, this tiny city-state has been closely linked to car culture for over a century. It hosts two major racing events every year, many of its residents would qualify for a frequent shopper card if Rolls-Royce issued one, and Prince Rainier III began assembling a collection of cars in the late 1950s. He opened his collection to the public in 1993 and the museum quickly turned into a popular tourist attraction. The collection continued to grow after his death in April 2005; it moved to a new facility located right on Hercules Port in July 2022. Monaco being Monaco, you'd expect to walk into a room full of the latest, shiniest, and most powerful supercars ever to shred a tire. That's not the case: while there is no shortage of high-horsepower machines, the first cars you see after paying ˆ10 (approximately $11) to get in are pre-war models. In that era, the template for the car as we know it in 2023 hadn't been created, so an eclectic assortment of expensive and dauntingly experimental machines roamed whatever roads were available to them. One is the Leyat Helica, which was built in France in 1921 with a 1.2-liter air-cooled flat-twin sourced from the world of aviation. Fittingly, the two-cylinder spun a massive, plane-like propeller. Government vehicles get a special spot in the museum. They range from a Cadillac Series 6700 with an amusing blend of period-correct French-market yellow headlights and massive fins to a 2011 Lexus LS 600h with a custom-made transparent roof panel that was built by Belgian coachbuilder Carat Duchatelet for Prince Albert II's wedding. Here's where it all gets a little weird: you've got a 1952 Austin FX3, a Ghia-bodied 1959 Fiat 500 Jolly, a 1960 BMW Isetta, and a 1971 Lotus Seven. That has to be someone's idea of a perfect four-car garage.  One of the most significant cars in the collection lurks in the far corner of the main hall, which is located a level below the entrance. At first glance, it's a kitted-out Renault 4CV with auxiliary lights, a racing number on the front end, and a period-correct registration number issued in the Bouches-du-Rhone department of France. It doesn't look all that different than the later, unmodified 4CV parked right next to it. Here's what's special about it: this is one of the small handful of Type 1063 models built by Renault for competition.

Recharge Wrap-up: Toyota Prius, V earn IIHS awards, Mitsubishi Outlander PHEV approved for V2H

The Toyota Prius and Prius V have earned IIHS 2015 Top Safety Pick+ ratings. The Prius V was singled out for its improved performance in the small overlap crash test. Lexus CT models built after September 2014 were also given the distinguished safety rating. In all, eight vehicles from Toyota and Lexus earned Top Safety Pick+ awards, while four more from Toyota and Scion were named Top Safety Picks. Read more in the press release below. The Mitsubishi Outlander PHEV can now provide power to the home in Japan. The vehicle-to-home capability requires the CHAdeMO quick charging socket and either Mitsubishi's own Smart V2H system, or the EVPower Station or Tsubaki eLINK system. The Outlander PHEV gained vehicle-to-home approval alongside all-electric vehicles because its electric motor doesn't run when used in for this purpose. The system allows owners to power their homes during outages and emergencies, and the Outlander PHEV can also directly power appliances with its 1500W AC100V power feeder. Read more at Green Car Congress. The Electric Vehicle Institute has published an updated "Plug-In Around the EV World" poster. The poster depicts the various connector types used by EVs. It shows the standard AC connectors for the US and Europe, DC and combination connectors for fast charging and, of course, Tesla's own charging connector for the Model S. It also shows the standard plug types used around the world, which are color coded by country on a world map. See the Electric Vehicle Institute's poster here, or read more at Green Car Reports. Toyota Decks the Halls with IIHS 2015 'Top Safety Pick' Awards Eight Toyota and Lexus Models Earn Institute's Highest Top Safety Pick+ Four Toyota and Scion Vehicles Named Top Safety Picks December 23, 2014 TORRANCE, Calif., Dec. 23, 2014 - On the 12th day of Christmas, the Insurance Institute for Highway Safety (IIHS) gave to Toyota, 12 awards awarding. In fact, the automaker won more awards than any other automaker, including the most of the Institute's highest honor. In all, eight Toyota and Lexus vehicles earned a Top Safety Pick+ rating. IIHS in particular recognized the Prius V for its significantly improved performance all-around in the small overlap crash test – naming it a Top Safety Pick+. The Toyota Sienna was also the only minivan awarded the 2015 Top Safety Pick + designation. IIHS also recognized four additional Toyota and Scion vehicles as 2015 Top Safety Picks.