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Toyota racks up $18-billion profit

Toyota is looking strong at the end of the fiscal year with its net revenue showing six percent growth to the equivalent of $227 billion. Operating income grew to $23 billion in that period, a 20-percent jump, and net income increased to $18.1 billion, a 19-percent advancement. The company attributes the positive numbers to cost reductions and the weak yen compared to other currencies. Toyota increased its operating income in every major region, but despite these ballooning figures, total sales globally actually fell slightly to almost 9 million – 144,149 fewer than last year. The automaker's biggest division in terms of units was North America, and it accounted for 2.7-million vehicles during the fiscal year. Operating income amounted to $4.5 billion there. Meanwhile, Japan ranked as the most lucrative territory. Sales there fell by about 200,000 vehicles to a total of 2.15 million. However, operating income for the fiscal year more than doubled to $13.1 billion. In its forecasts for the next fiscal year, Toyota predicts global sales to remain roughly the same as this year at 8.9 million vehicles. Net revenue and net income are expected to make slight gains, though. Related Video: TMC Announces Financial Results for Fiscal Year Ended March 31, 2015 (All consolidated financial information has been prepared in accordance with U.S. generally accepted accounting principles) Toyota City, Japan, May 8, 2015-Toyota Motor Corporation (TMC) today announces its financial results for the fiscal year ended March 31, 2015. Consolidated vehicle sales totaled 8,971,864 units, a decrease of 144,169 units compared to the previous fiscal year. On a consolidated basis, net revenues for the period totaled 27.23 trillion yen, an increase of 6.0 percent. Operating income increased from 2.2921 trillion yen to 2.7505 trillion yen, while income before income taxes1 was 2.8928 trillion yen. Net income2 increased from 1.8231 trillion yen to 2.1733 trillion yen. Operating income increased by 458.4 billion yen. Major factors contributing to the increase included currency fluctuations of 280.0 billion yen and cost reduction efforts of 280.0 billion yen.

Toyota recalling 615k Sienna models over rollaway risk

Toyota has announced a recall affecting approximately 615,000 Sienna minivans due to a possible rollaway risk. All of the vehicles in question are from the 2004, 2005, 2007, 2008 and 2009 model years.
In an official statement, the automaker states that the problem stems from the vehicle's shift lever assembly. "Because of the potential for damage to the shift lock solenoid installed in involved vehicles, there is a possibility that the shift lever could be moved out of the 'P' position without the driver depressing the brake pedal," Toyota said. Because of this fault, the affected Sienna models could roll away without warning, increasing the risk for a crash.
Owners will be notified via first class mail, and the affected Sienna models can be taken to Toyota dealerships to have the shift lock solenoid replaced with a new one. Have a look below for the automaker's official release.

Toyota, Lexus recall 460,000 vehicles for stability control issue

Toyota and its luxury subsidiary, Lexus, are recalling 460,000 electrified models produced for the 2020-2022 model years to address an issue that can cause the vehicles' stability control systems not to activate on startup. If you drive a new Toyota or Lexus and it has at least one electric motor in it (or it's the new LX 600), there's a better-than-even chance you'll be hearing from your dealer in the coming months. The good news for owners is that the issue is one of compliance, rather than something which may immediately endanger a vehicle occupant.  "A software error can cause the Vehicle Stability Control system (VSC) not to default to ON the next time the car is started under certain circumstances. This can result in a noncompliance with applicable regulations in the U.S," Toyota said in its announcement. "For all involved vehicles, Toyota and Lexus dealers will update the software of the Skid Control ECU free of charge to customers." Included in the campaign are the 2020-2022 Toyota Venza, Mirai, RAV4 Hybrid, RAV4 Prime, Sienna Hybrid, and Highlander Hybrid. On the Lexus side, it hits the LS500h, LX600, NX350h and NX450h+. Notably absent here are the Tundra-based trucks with the new iForce Max hybrid, though Toyota may have addressed the issue in those models before they went on sale. On the other side of the coin, the LX 600 — a purely ICE model for the time being — managed to stumble into the defect pool.  Toyota says owners should receive notices before the end of June. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Recalls Lexus Toyota Safety Luxury