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Toyota outpaces Detroit rivals in profitability per vehicle

As the world's highest volume automaker in 2014, you would probably expect Toyota to project a healthy financial outlook for the end of its fiscal year on March 31. But thanks in large part to the weak value of the yen and a large number of export vehicles, the automaker could make about four times more than General Motors, despite selling just a few hundred thousand more cars than its Detroit competitor last year. Toyota forecasts the equivalent of $24.5 billion in earnings for the fiscal year, compared to $6.5 billion from GM in 2014. According to an analysis by The Detroit News, the Japanese automaker is expecting average earnings of $2,726 on each vehicle it sells, versus $994 from Ford and $654 from GM. The key to this massive success has less to do with Toyota's products and much more in the company's location. The yen's value to the dollar is at its lowest point in decades. Also, according to The News, the automaker exports about 45 percent of its Japan-assembled vehicles, meaning bigger profits in the conversion to foreign currencies. Coupled with strong demand in the US, and the business looks even better. Automakers in the US are peeved by Toyota's currency-based boost. According to The News, there are allegations of manipulation of the yen's value, and Ford president of the Americas Joe Hinrichs calls the problem the "major trade barrier of the 21st century." He thinks the Japanese companies are making about $2,000 per exported vehicle due to the conversion. Intriguingly, it wasn't that long ago when Japanese automakers were moving operations from the country due to the strong value of the yen to the dollar curtailing profits. Infiniti shifted production, and there were fears that Toyota might close some of its factories, as well. Related Video: News Source: The Detroit NewsImage Credit: Shizuo Kambayashim / AP Photo Earnings/Financials Plants/Manufacturing Toyota toyota earnings toyota profit

Toyota's Mirai fuel cell car gets its own special showroom

If the car's unique, the showroom better be as well. That's the approach Toyota is taking with the Mirai, its first production hydrogen fuel-cell electric vehicle. In fact, the model is getting its own special showroom starting this Friday. The Japanese automaker is opening the showroom in Tokyo. The facility takes up two floors totaling about 1,800 square feet and, from the pictures, it looks to have a very Zen-like quality. Toyota will be displaying one Mirai vehicle and will have another vehicle available for public test drives available every Friday. Toyota started selling the Mirai in Japan late last year and has announced plans to debut the car in the US – starting in California – this fall at a base price of $57,500, or a lease option of $499 a month for 36 months ($3,649 is due at signing). Earlier this year, Toyota said it was going to bump production to 2,000 vehicles next year (and 3,000 in 2017) from 700 units this year. With such a ramp-up in store, Toyota will spend about $170 million increasing production capacity of the fuel-cell vehicle. That total probably doesn't take into account the stylish new Tokyo showroom. Related Videos: New Toyota Mirai Showroom in Downtown Tokyo Offers a Glimpse of the Future Tokyo, Japan, April 13, 2015-On Friday, Toyota will open a showroom to highlight the groundbreaking Mirai fuel cell vehicle, which went on sale last December. Located within a hydrogen station operated by Iwatani Corporation in Tokyo's Minato Ward, the space will serve as a hub for sharing information on fuel cell vehicles and hydrogen, with the aim of promoting a hydrogen-based society. In addition to having one Mirai on display and another for test drives, the showroom will use videos and other media to raise awareness about the features of the vehicle, the benefits of hydrogen and more. Overview of the Toyota Mirai Showroom Location 4-6-15 Shiba-Koen, Minato-ku, Tokyo Opening April 17, 2015 Floor area 1st floor84 m2; 2nd floor81 m2 Hours 9:00-17:00 Closed Tuesday (The Iwatani hydrogen station is closed on Saturdays, Sundays, and holidays) Display vehicles 1 Test ride vehicles 1 (available to public on Fridays only) Website http://toyota.jp/mirai/showroom/ (Japanese only)

Aston Martin will race the Valkyrie hypercar at Le Mans in 2021

Aston Martin will challenge for outright victory in the Le Mans 24 Hours race in 2021 with its Valkyrie hypercar, the British luxury sportscar maker announced on Friday after race organizers rewrote the rules. The governing FIA, who oversee the World Endurance Championship, and race organizers Automobile Club de L'Ouest, revealed earlier that hypercar derivatives would replace prototypes as the top category starting in the 2020-21 season. Aston Martin will field two works Valkyries, powered by V12 normally-aspirated engines, as part of a multi-year commitment to a championship currently dominated by Japanese manufacturer Toyota. The announcement comes 60 years after Aston Martin's sole overall triumph at Le Mans in 1959 with Britain's Roy Salvadori and American Carroll Shelby. Le Mans winner Toyota, meanwhile, has committed to staying in the WEC after 2020 subsequent to the hypercar rules. The Japanese manufacturer said in a statement before this weekend's race at Le Mans' Sarthe circuit that it would continue in 2021 with a hybrid-powered prototype based on the GR Super Sport road car. Track testing of the new car will begin next year. Defending champions Toyota will start on pole position on Saturday after sweeping the front row in qualifying for the third year in succession. "This new era of competition is a fantastic opportunity to demonstrate our credentials not only as a race team against some of the best in the business, but also as a sportscar manufacturer," said Toyota Gazoo president Shigeki Tomoyama. The 2021 Le Mans will also be the 100th anniversary of Aston's first entry at the Circuit de la Sarthe. "I think you'd say from the brand's point of view, there's a little bit of unfinished business to be done," Group Chief Executive Andy Palmer told Reuters. Top Formula One designer Adrian Newey, who has won championships with Williams, McLaren and Red Bull, helped create the Valkyrie. The limited edition road legal version costs in the region of 2.5 million pounds ($3.17 million). "We don't under-estimate the difficulty of an outright win at Le Mans and you never under-estimate the tenacity and resources of Toyota," said Palmer. "On the other hand, we're not coming just to make up the numbers. We're coming here to give it a bloody good shot." Palmer said the new regulations would significantly reduce the costs of competing, without giving details about the likely budget, and hoped commercial rivals McLaren and Ferrari would take up the challenge.