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Toyota breaks ground on new Texas HQ

Automakers are on the move in America: Cadillac is shifting from Detroit to New York, Mercedes is moving its US headquarters from New Jersey to Atlanta, and Toyota is relocating its North American operations from locations around the country to a new facility outside of Dallas in northern Texas. That process started yesterday when the Japanese automaker broke ground at the new facility. Toyota used a 2015 Tundra TRD Pro Series pickup to officially break ground at the intersection of Headquarters Drive and Palomino Crossing in Plano, TX, with the city's mayor joining Toyota Motor North America CEO Jim Lentz and a crowd of 100 dignitaries. Toyota announced the relocation back in April, and in the months since has purchased the property, hired a developer, architect and project manager, and filed preliminary plans with city hall. The site is set to be ready late in 2016 or early 2017, moving operations from California, Kentucky and New York. Other facilities like the one in Ann Arbor, MI, will not be affected by the relocation. Related Video: TOYOTA PLOWS FORWARD IN PLANO, BREAKS GROUND ON NEW HEADQUARTERS PLANO, TEXAS, JAN. 20, 2015 – A V-8 engine growls, and the earth moves. With the roar of a 2015 TRD Pro Series Tundra, Toyota today formally broke ground on its new North American headquarters at the intersection of Headquarters Drive and Palomino Crossing in Plano, Texas. The Tundra took center stage, bulldozing the first soil on the site of Toyota's new campus in a manner that can only be described as not your traditional groundbreaking ceremony. "The support and encouragement we've received from the community, civic leaders, business partners and nearby corporations has been nothing short of tremendous," said Jim Lentz, Toyota Motor North America chief executive officer. "Our goal is to build an environmentally-sustainable campus that our new neighbors will welcome and our team members and associates will be proud to call home." Toyota also unveiled an installation during the ceremony: the word "TOYOTA" in large letters, standing 10 feet tall and 64 feet wide. Inside each letter are native Texan Yaupon Holly trees, which represent "wish" trees, a Japanese cultural tradition. Students from the Plano ISD Academy High School and community participants contributed to the event by adding handwritten notes to the trees representing their wishes, dreams, hopes and inspirations.

Toyota World's Top-Selling Carmaker For Second Year

Toyota remained the top-selling automaker for a second year in a row, beating U.S. rival General Motors by some 270,000 vehicles in 2013, and set an ambitious target to sell more than 10 million vehicles this year. That would mark a milestone as no automaker has ever topped annual worldwide sales of 10 million. Toyota Motor Corp. said Thursday it sold a record 9.98 million vehicles worldwide last year, up 2 percent from the previous year. The Japanese automaker has made an impressive comeback from an earthquake and tsunami that devastated northeastern Japan in 2011, damaging auto suppliers and hobbling production. Toyota also outlined plans to sell 10.32 million vehicles and produce 10.43 million vehicles in 2014. General Motors Co. sold 9.71 million cars and trucks worldwide last year, outselling Volkswagen AG of Germany at 9.5 million. Toyota recaptured the global sales crown in 2012 from GM, which had been the top-selling carmaker for more than seven decades until being surpassed by Toyota in 2008. Toyota, which makes the Camry sedan, Prius hybrid and Lexus luxury models, had strong sales growth last year in overseas markets, although sales fell in long stagnant Japan. Toyota's U.S. sales totaled nearly 2.24 million vehicles, up 7 percent from the previous year. Its China sales were also strong, surging 9 percent to 917,000. Toyota remained optimistic about prospects this year for both regions, expecting sales to grow 3 percent in the U.S. to 2.3 million vehicles, while adding 20 percent in China sales to 1.1 million. The company was typically low-key about the bragging rights for being No. 1, reiterating its comments from previous years that it was merely making one car at a time to appeal to global consumers. GM has also expressed similar sentiments, but being the top seller is a key morale booster for the employees and related companies. The healthy results at the three rivals reflect the momentum of growth in the auto industry. Toyota has undergone tough times in recent years, such as a massive recall fiasco in the U.S. involving more than 14 million vehicles for sticky gas pedals, faulty floor mats, problematic brakes and many other defects, spanning several years from 2009. Related Gallery AOL Autos Test Drive: 2014 Toyota Highlander Toyota Ownership sales selling

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.