2008 Toyota 4runner Limited on 2040-cars

Auto blog

2022 Toyota Tundra, Rivian R1T, Blackwing, and Hyundai Kona N Line | Autoblog Podcast #701

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski for a robust week of reviews and news discussion. They start with what they've been driving, and it's a pretty impressive list. The Toyota Tundra and Rivian R1T hold down the truck end of things, with Hyundai Kona N Line and Cadillac CT5-V Blackwing making an appearance on the enthusiast side. The updated Polaris Slingshot rounds things out. Next, they pivot to news, where Maverick guarantees a little more truck talk. That's followed by GM's new 1,000-horsepower monument to crate motor displacement, Stellantis searching for battery partners, details of the new Honda Civic Si and Tesla's massive third-quarter performance. Then, they spend a listener's money. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #701 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving:2022 Toyota Tundra 2022 Rivian R1T 2022 Cadillac CT5-V Blackwing 2022 Hyundai Kona N Line 2021 Polaris Slingshot News 2022 Ford Maverick EPA numbers Chevy's ZZ632 crate engine Honda Civic Si teasers Tesla Q3 profit Stellantis battery deal is one of many to come Spend My money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives.  

Toyota and Mazda invest another $830 million into Alabama crossover plant

The joint-venture car factory Mazda and Toyota are building in Alabama just got more expensive. The two companies agreed to invest another $830 million into the factory, bringing total cost up from the initial $1.6 billion to about $2.3 billion. In their press release, the companies noted that the money is going to improve production processes and accommodations for design changes to vehicles built there. The companies announced the factory back in January 2018. Both companies will build a crossover model. Details are scant, but we know they're both new models that haven't been announced or teased yet. Mazda's crossover will be a North American-specific model that should go into production in 2021. Toyota initially planned to build Corollas at the plant, but changed course to a crossover a little later. The factory will be able to produce as many as 300,000 cars a year, divided equally between Mazda and Toyota for 150,000 apiece. The companies plan to hire around 4,000 people to work there, and 600 have already been hired. Applications for production jobs will be accepted later this year, and there aren't any mentions about major delays from the pandemic, so we expect Mazda's production targets haven't really changed. Related Video:     Plants/Manufacturing Mazda Toyota Crossover

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.