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Toyota nears $40B cash reserve as calls grow for new investment, payouts

With the April 15 tax deadline just a few months away, our US readers will be faced with a decision should they get a refund: save or spend? It seems this issue is one many of us face whenever there's a windfall, trying to decide whether we should set the money aside in an account of some sort or use it as a down payment on a new car or a trip to the Apple store. Unsurprisingly, major corporations face a similar, albeit more complex, issue.
Take Toyota, for example. With President Akio Toyoda at the helm, the Japanese manufacturer has gracefully weathered recalls and natural disasters, all while turning beaucoup profits. Last quarter, profits quintupled to 434.4-billion yen ($4.3-billion USD), according to Bloomberg. Toyota also upped its forecast for the end of fiscal year 2013 (which ends on March 31 for Japan), to a record 1.9-trillion yen (about $18.8 billion). Now, the Japanese brand is reportedly sitting on a cash pile of nearly $40 billion, leaving Toyoda-san in an envious predicament - what should the company do with all that money?
Some think Toyota should be doing something, anything with that big stack of cash.

Recharge Wrap-up: Tesla says it will adapt cars to China's charging standard, Toyota previews Mirai for NY officials

Tesla says it will adapt its cars to meet China's charging standards. As Tesla sales in China fail to meet targets, in part due to range anxiety, the company has been working to build chargers for its vehicles to allay concerns surrounding its unavailability and its incompatibility with the country's charging standard. While China says it won't support charging infrastructure incompatible with its own, Tesla says, "We will fully cooperate with the Chinese government in drafting the national charging standards as well as building public charging infrastructure." Cooperation stands to help Tesla meet its sales goals in China, and to help China meet its goal of promoting electric vehicles. Read more at The Wall Street Journal. Abstract Ocean offers LED replacements for the Tesla Model S license plate bulbs. The folks at Teslarati purchased and installed a set to review and shared the results. At $21.99, the LED License Plate Bulb Kit offers a slightly more high-tech lighting solution to match the high-tech nature of the Model S, and is appropriately inexpensive for a decidedly minor upgrade. It is also very easy to install, requiring just a Phillips-head screwdriver and a few minutes. While you're not likely to see any significant energy savings from the LED bulbs, the reviewer likes the look and is happy with the customization experience. Read more at Teslarati. Toyota and Air Liquide hosted a ride-and-drive of the Toyota Mirai at the New York State Capitol. As the hydrogen fuel cell car gets closer to its US launch, Toyota has been hosting informational events to get the word out about the vehicle and hydrogen technology. At the event, which included an informational session on the hydrogen economy, elected officials got to get behind the wheel of the zero emissions vehicle. "After more than a century with the automobile, we are making decisions about socially significant technologies aimed at building a true hydrogen society over the next 100 years," says Toyota Group Vice President of Government Affairs Steve Ciccone. Air Liquide and Toyota are teaming up to develop hydrogen fueling infrastructure in the Northeast US. The Mirai goes on sale in the Northeast in 2016. Read more from Air Liquide.

Coronavirus shakes up America's truck market: GM outselling Ford and Ram

FCA, Ford and General Motors joined the rest of the U.S. auto industry in taking heavy volume hits due to coronavirus-related shortages of both cars and customers. The saying goes that a rising tide lifts all boats; it stands to reason, then, that a falling one would have the opposite effect.  However, as we learned Thursday, the automotive market can behave in unpredictable ways. While the F-Series remained the best-selling nameplate in Q1, GM's full-size trucks are now outselling Ford's again for the first time in years, and with this upward thrust from the General, FCA's Ram was unceremoniously booted out of a hard-earned second place.  While late-March sales declines hit just about every major automaker in one way or another, the model-by-model results weren't nearly so uniform. And because the market tends to be a zero-sum game, for every winner, there generally has to be a loser.  In this case, that winner was GM, and its rise had to come at the expense of another automaker, in this case, Ford. F-Series sales dropped 13.1 percent in the first quarter of 2020, while sales of GM's full-sized Silverado and Sierra surged nearly 28% in the same period. FCA's Ram lineup managed a steady-as-she-goes 7% increase. All-in, GM finished the quarter with 197,743 full-size trucks sold to Ford's 186,562. Here's the full breakdown: Ford F-Series: 186,562  Chevrolet Silverado*: 144,734 Ram P/U: 128,805 GMC Sierra: 53,009 *includes 1,036 Medium Duty sales Things are a but murkier in the midsize segment, where the Chevy Colorado slipped 36% to just 21,430 units sold — just a few hundred better than the slow-selling Ford Ranger's Q1 numbers. The GMC Canyon experienced an almost identical slide, finishing the quarter with just 4,483 units sold. For perspective, Jeep sold more than 15,000 Gladiators and Toyota's midsize Tacoma slipped less than 8%, finishing the quarter with nearly 54,000 sales.  We suspect this discrepancy in full- and mid-size truck sales comes from shifting incentives. Ford, GM and FCA would like to keep selling bigger trucks because there's far more profit margin built into their list prices. Even with tens of thousands of dollars in manufacturer money on the hood, big trucks still make money.  Since these automakers report quarterly, we won't get another good look at these numbers until July, but if you thought that 2019 represented the new normal for U.S. auto sales, well, think again.