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Scion was Toyota's lost generation

Toyota's top North American leader was succinct in explaining the reasons for killing Scion. "It's the right decision at the right time," Jim Lentz said. It's hard to disagree. In a strong market that saw 17.5 million sales last year, Scion volume dipped three percent. Its product lineup has withered for years, which is always a telltale sign a brand doesn't have the full support of its owner. Though enthusiasts love the FR-S sports car, it's the fruit of a joint project with Subaru that also produced the BRZ. Scion's coolest car has a twin sold by one of its rivals. After the FR-S launched in 2012, Scion got nothing – squat – in the way of new products until the iA and iM arrived late last year, IHS senior analyst Stephanie Brinley noted. "[Scion] was not successful in building a visual brand identity or product personality," she said. Lentz, Scion's first vice president and now CEO of Toyota's North American division, admitted the market has changed. "Younger customers have a different mindset," he said. In the early oughts, a brand that catered to a youthful demographic made some sense, and this is one front where Toyota can declare victory. Seventy percent of Scion's buyers were new to Toyota, and the average age was 36 years old. The problem is, not enough of them buy Scions anymore. Scion hit a highwater sales mark of 173,034 vehicles in 2006 and hasn't come close to reaching that since. The recession hurt Scion, too. It bottomed out in 2010 with just 45,678 sales, a time when the rest of the industry was beginning to recover. There was a brief uptick (73,507) in 2012, but Scion failed to capitalize on that momentum and sales fell for three more years. Toyota is calling Scion's pending death a "transition" back to the main company. Sure, most of the cars will be rebadged Toyotas, like the FR-S, iA, and iM. The C-HR, an attractive future crossover that would have given Scion a boost, will go into production as a Toyota. But make no mistake: This is a failure. Toyota is closing a brand in the same way General Motors scrapped Oldsmobile, Ford shuttered Mercury, and Chrysler dropped Plymouth. Those brands languished for years. Toyota moved quicker to put the fork in Scion, which prevented it from becoming a long-term drain on the parent company. Lentz was dead on. It's the right time. News & Analysis News: Sergio Marchionne is against a Ferrari SUV Analysis: His exact words were, "you have to shoot me first," Bloomberg reported.

Toyota tops Kelley Blue Book's Resale Value Awards

Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers - mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced in the same week as the ALG Residual Value Awards, and there were many similarities between both lists, especially when it came to Toyota.
To come up with its winners, KBB measures depreciation over the first five years of ownership, and looks for the cars it expects to hold its value the best after this time; on average, the report says the 2013 model year vehicles will lose 61.8 percent of its value in five years. Of the 22 categories, 15 slots were filled by Toyota, Honda and Nissan products, while the Camaro and Porsche (Cayenne and Panamera) each took home a pair of awards. If Toyota has anything to be upset about in this list of cars, it's that categories for Hybrid/Alternative Energy Car and Electric Vehicle went to the Ford Fusion and Chevrolet Volt, respectively.
The overall top 10 models for the best resale value in 2013 are, in alphabetical order:

Recharge Wrap-up: Toyota allowed to inspect own hydrogen tanks, Telsa tour reveals expansion

Japan's Ministry of Economy, Trade and Ministry has certified Toyota to self-inspect its high-pressure hydrogen tanks. The approval allows more freedom in production timing, as outside inspectors previously had to be on site during the manufacture of hydrogen tanks for vehicle prototypes. Toyota has passed the stringent standards to become a registered manufacturer of the 700-bar hydrogen tanks, which the company will use in its upcoming fuel cell vehicle (FCV). With the improved efficiency this certification allows in the manufacturing process, Toyota believes it will help to lower the cost of the FCV. Read more in the press release below. A look inside Telsa's fremont Factory shows thriving activity and increased capacity. Analyst Trip Chowdhry, in a rare tour of the factory, describes a bustling facility capable of producing the Model X and Model III alongside the Model S. A part of the floor labeled "Driver Assist" suggests to Teslarati that Tesla is researching a self-driving car. Chowdhry reports that the factory lobby was "busy with European suppliers and Asian suppliers." He also found an energized workforce and culture similar to Silicon Valley startups. Read more at International Business Times. Mahindra has introduced a premium version of the e2o electric car, made in partnership with Reva. The car features a range of almost 75 miles, power steering, infotainment, rear-view parking camera, driver information display and an emergency power reserve feature, called REVive, offering an extra five miles of range activated through a smartphone. Mahindra also launched a program called "Goodbye Fuel, Hello Electric" in which customers pay to use the e2o by the mile. Learn more at The Indian Express. Toyota Approved to Self-inspect and Manufacture Hydrogen Tanks for FCVs Toyota City, Japan, August 29, 2014-Toyota Motor Corporation has received approval from Japan's Ministry of Economy, Trade and Industry (METI) to self-inspect and manufacture high-pressure hydrogen tanks for fuel cell vehicles (FCVs). This makes Toyota the first company to become a registered manufacturer of 70 MPa (700 bar) hydrogen tanks under Japan's High Pressure Gas Safety Act, revised in 1997 by METI. Toyota will now be able to increase the efficiency of the process of manufacturing safe high-pressure hydrogen tanks that ensure customer confidence.