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Toyota outpaces Detroit rivals in profitability per vehicle
Tue, Feb 24 2015As 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
Japan carmakers vouch for safety of some Kobe Steel parts
Thu, Oct 19 2017TOKYO — Four Japanese automakers on Thursday said they found no safety issues with aluminum parts supplied by Kobe Steel Ltd, allaying some concerns that falsified quality data on products from the steelmaker had compromised their vehicles. Kobe Steel shares surged after the car makers' statements, but the steelmaker still has to contend with a U.S. Justice Department probe, while checks continue at hundreds of companies involved in complex supply chains spanning the globe. Japan's third-biggest steelmaker admitted earlier this month it falsified specifications on the strength and durability of aluminum, copper and steel products, along with materials for optical disks. The falsifications stretch back for more than 10 years, a senior executive told Reuters this week. Since then, global automakers, aircraft companies and other manufacturers have scrambled to identify potential hazards in their products. Toyota, Honda, Nissan and Mazda said that hoods and other exterior parts used in their cars which were made from aluminum directly supplied by Kobe Steel were safe. Kobe Steel shares ended the day nearly 7 percent higher but are still down by more than a third since it announced the data falsification. Automakers are still making checks on other parts, including those that they received through their parts suppliers. "We confirmed that the materials satisfy applicable statutory standards, and our own internal standard, for key safety and durability requirements for vehicles," Toyota said in a statement. Toyota, one of the world's largest automakers, identified aluminum plates supplied by Kobe Steel for the hoods and rear hatches of Toyota and Lexus brand vehicles. Though outside the automaker's specifications, they were still safe to use. While Subaru and other carmakers said they were still investigating the issue, the announcements by Toyota, Honda, Nissan and Mazda suggest that Kobe Steel's cheating scandal may have a limited impact on product safety."SERIOUS SITUATION" Nonetheless, the company's fate hangs in the balance while checks are being carried out. It must report to Japan's industry ministry by around the end of next week on any safety concerns and provide a more extensive account of the problems a fortnight later. Industry leaders have reached a consensus that Kobe Steel is in a "serious situation," a senior Japanese manufacturing executive told Reuters.
2015 Toyota Tundra TRD Pro priced from $41,285*
Fri, 29 Aug 2014Just a few weeks after announcing pricing for the first two members of its TRD Pro Series, Toyota has finally dropped the final pricing details on its new Tundra TRD Pro. Like the Tacoma TRD Pro, the Tundra will be available in two different body styles, with a more affordable Double Cab and a roomier Crew Cab.
Prices start at $41,285 for the former and $43,900 for the latter - not counting a hefty $1,100 destination charge - effectively slotting Toyota's off-road-ready model between the $41,730, Double Cab Limited and $46,465, Crew Cab-only 1794 Edition trucks.
As we've covered previously, the TRD Pro models come with a raft of off-road gear that should help combat just about any terrain a driver may stumble across. TRD-tuned Bilstein shocks and TRD-tuned front springs add two inches to the big truck's ride height while the black, 18-inch TRD wheels and available Inferno Orange paint add a bit of visual sass. A new TRD dual exhaust system is also standard, which can confirm sounds great (review coming soon!).



