2014 Toyota Tundra Sr5 on 2040-cars

Auto blog

Japanese police raid Toyota HQ following Hamp arrest

Less than a week after Toyota's new global communications officer and first female senior executive, Julie Hamp, was arrested for allegedly bringing illegal painkillers into Japan, local police have raided the company's headquarters, Japan's Asahi newspaper claims. Details are remarkably scarce at this stage, and it's entirely unclear what police were looking to find at Toyota HQ. According to Reuters, Toyota has been completely quiet on the subject of the raid. It seems logical that police would execute a search on Hamp's office in a bid to find any additional illegal medication, but that is, of course, pure speculation. Hamp has been in headlines since June 18, when Tokyo police arrested her at her hotel. Allegedly, 57 pills of Oxycodone, a powerful, highly addictive, and easily abused painkiller, was sent to Hamp from the US. And while it may have been obtained here in the States with a legal prescription, that doesn't change the fact that it, along with some over-the-counter medications, remain illegal under Japanese law. The embattled exec has had some big-name support since her arrest, though. Akio Toyoda, the head of Toyota Motor Corporation, stepped out on Sunday and said, "We are confident...that once the investigation is complete, it will be revealed there was no intention on Julie's part to violate any law." Thus far Hamp has claimed ignorance, although that might not protect her from what one expert told Reuters could result in years in prison. Should any additional information become available, we'll be sure to update this post. News Source: ReutersImage Credit: Mark Renders / Getty Images Government/Legal Toyota julie hamp

Toyota reports huge quarterly profit increase, raises forecast for the year

Toyota isn't just the world's largest automaker - so far its the biggest winner for quarterly profits. With an enormous $5.5 billion take during Q2, Toyota took advantage of the weak Japanese yen and strong US demand to record a 94-percent improvement in profit over the same period from last year. So far, Toyota brought in larger profits than Ford and General Motors combined.
Toyota is showing no signs of slowing down either, as it has bumped up its forecast for full-year global production, going from 9.94 million to 10.12 million vehicles, on the back of a 13-percent drop in the buying power of the Japanese yen versus the US dollar. That strong exchange rate is largely responsible for Toyota's big jump in profits, although it also managed to shift 1.3 million vehicles in the US market this year. Strong Camry sales have also helped. But while Toyota is raking in the cash, it actually saw a small drop in market share, down 0.1 percent to 14.3 percent of the US market.
As is the case with most automakers, Toyota seems flummoxed by Europe, where it recorded less than one percent of its revenue. Still, as Automotive News points out, Toyota only maintains a 4.5-percent market share in Europe and is far less dependent on the continent than other manufacturers. Toyota also struggled at home, much like Honda. With 525,777 units sold, JDM sales were down almost 51,000 units, although Toyota still saw its operating profit jump from $3.5 billion to $4.6 billion.

Details about next-gen Toyota Prius emerge

The Toyota Prius is undeniably the king of the hybrid market in the United States, with a 39.4 percent market share in 2013. With the next-generation Prius likely to go on sale in 2015, Toyota is trying to build an even more efficient hybrid to keep its control of the market.
Keeping cost down will be one of the major concerns of the new Prius. The next generation will ride on the new, modular Toyota New Global Architecture platform. The lighter underpinnings will improve efficiency and will reduce production costs by allowing for more shared components among vehicles. Toyota will not reveal how many vehicles will use the new platform. But even with the cheaper platform, price will remain a concern. Toyota is still deciding whether all versions of the next Prius will use lithium-ion batteries or whether some models will stick with the heavier nickel-metal hydride batteries to keep cost down.
Of course, the reason most people buy the Prius is because of its great fuel efficiency. Toyota will aim for at least an 8 percent improvement in fuel economy in the next Prius, which would increase it to 58 miles per gallon city and 52 mpg highway.