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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.

Jaguar E-Type with Supra's 2JZ debuts at SEMA looking fly and fast

We hope you’re not bored of seeing Toyota 2JZ engine-swapped cars, because this one sure does capture our attention. The 1969 Jaguar XKE 2+2 youÂ’re looking at here is unlike any E-Type youÂ’ve seen before, and while it still has a straight-six under the hood, pretty much everything else about the coupe has fundamentally changed. In a nod to just how beautiful the E-Type is to begin with, its design is only different in this Eneos build because it needs to be. Fender flares were designed and 3D-printed by Illumasthetic, and they were then strengthened with carbon fiber. Why did it need the flares? Well, thatÂ’s because the 2JZ-GTE 3.0-liter turbocharged inline-six from the Supra produces far more power than the E-Type ever did, requiring a lot more rubber to keep things straight. Of course, the Supra engine isnÂ’t stock, as itÂ’s been modified with Deatschwerks injectors, a Nuke Performance fuel system, CP-Carillo pistons and rods, a Borg Warner EFR 8474 turbo, Vibrant Performance intercooler Â… the list goes on forever. Output is estimated at about 750 horsepower. The Frankenstein theme continues with the E60 generation 535i rear subframe suspension and differential out back. Meanwhile, it uses the five-speed manual transmission from an E36 generation M3. The front suspension is custom, and while BMW brakes are used in the rear, Eneos chose brakes off a 2003 Chevy Corvette up front. The 17-inch Rotiform STL wheels are wrapped with Bridgestone Potenza RE-71 RS tires. Inside, this Jag-yota gets a full roll-cage, Tillett seats, an OMP steering wheel and a whole lot more. Eneos credits Faruk Kugay as the carÂ’s builder – Kugay previously built some rather creative cars, like a 997 Porsche 911 GT3 with a Subaru Impreza STI EJ25 engine and an E30 BMW 3 Series with a Honda S2000Â’s 2.0L engine. This Jaguar takes the wild engine swaps and engineering to totally new heights, though, and we canÂ’t help but simply love the way itÂ’s been executed. Related Video

10 most memorable cars and SUVs of 2019

It's no surprise that a car reviewer will drive a large number of cars over the course of a year. Indeed, when the clock strikes midnight on Dec 31, I will have driven 75 new cars, trucks and SUV this year (and one old Peugeot) over the course of weekly evaluation loans and first drive events. That sure seems like a lot. Some definitely got more attention than others, and some came and went without leaving much of an impression – I completely forgot I drove a Kia Forte. Yet in the spirit of this day, I thought I'd pick the 10 that I would love to see under the Christmas tree tomorrow morning. You know, just in case you were looking to get me something. I'll also throw in a couple disappointments that were memorable for the wrong reasons. They'd get sent back to the store on Boxing Day. Lexus LC 500 Pictured below and resplendent in its Flare Yellow metallic paint, the car that would reach highest on my list is the divine Lexus LC 500. As a devout lover of GT cars, the LC ticks all the boxes. Muscular and characterful engine? V8, check. Beautifully made and memorable interior? It's gorgeous, to hell with Remote Touch. Check. Comfortable and reasonably practical? Superb seats and, uh, yeah. Makes me want to stand there and stare at it? You bet. Though I long figured my heart would say LC but my head "Porsche 911," after this go-around, that's no longer the case. LC, pretty please. 2020-lexus-lc500-f34-2 View 19 Photos Polestar 1 I actually feel lucky that I got to drive the Polestar 1. Only 150 will be produced each year, and it's a far more special thing than it would initially appear. And that's despite initially appearing to be a beautiful, classic two-door GT car with a roof so rakish it's only possible because it's made of carbon fiber. That itÂ’s a massively powerful plug-in hybrid with more all-electric range than any other PHEV is a thick dollop of whipped cream on a slice of Toscakaka. You know, Swedish dessert, Swedish car. Fine, I'll stick to Ikea references.  Polestar1_Launch_SanFrancisco-0014 View 44 Photos Volvo V60 Cross Country Speaking of Sweden, did I drive this car off the road there? Sure did! And despite this, the V60 Cross Country scratches that certain wagon itch and looks sensational to boot. I wish it were available with the T8 plug-in hybrid powertrain, but it's best not to get greedy at Christmas.