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Toyota says president, chairman of scandal-hit Daihatsu unit to step down

TOKYO — Toyota Motor Corp said on Tuesday both the president and chairman of Daihatsu Motor will step down almost a year after the small-car unit said it had rigged collision safety-tests. The departures are among the most drastic changes Daihatsu has made so far, as Toyota seeks to return the brand to its roots as one of Japan's most iconic compact car makers. Toyota faces a potential hit to its reputation from the safety certification lapses at Daihatsu, as well as separate governance issues at truck maker Hino Motors and affiliate Toyota Industries. The scandals at the three companies triggered a rare apology of Toyota Chairman Akio Toyoda last month. In a statement, the world's top-selling automaker said its chief executive officer for the Latin America and Caribbean region, Masahiro Inoue, will replace Soichiro Okudaira as Daihatsu's president effective March 1. Daihatsu's chairman, Sunao Matsubayashi, will also step down and will not be replaced, Toyota added. The outgoing Okudaira had worked at Toyota for nearly four decades before becoming president of Daihatsu in 2017, a year after it became a wholly owned Toyota subsidiary. Toyota Chief Executive Koji Sato told reporters, however, that the organizational change at Daihatsu was not carried out as a punishment for the outgoing executives. In volume terms, Daihatsu accounted for 7% of Toyota's total group sales of 11.2 million vehicles in 2023, including those of the luxury Lexus brand and Hino Motors. Given the misconduct over the safety test certification applications, Daihatsu also will be removed from a commercial vehicle partnership known as the Commercial Japan Partnership Technologies (CJPT), the automaker said in a separate statement. The partnership was established in April 2021 by Toyota, Hino and Isuzu Motors to facilitate technology development for commercial vehicles. Suzuki Motor and Daihatsu joined in July the same year. Daihatsu's 10% equity stake in the partnership will be transferred to Toyota, the statement said. (Reporting by Daniel Leussink and Satoshi Sugiyama; Editing by Kim Coghill & Shri Navaratnam and Miral Fahmy) Government/Legal Hirings/Firings/Layoffs Plants/Manufacturing Toyota Daihatsu

Editors' Picks November 2023: Toyota Grand Highlander, Buick Envista and some lovely luxury vehicles

It's been a month since we served you with the full lot of Autoblog Editors' Picks, and that master list is going to continue to grow as more new cars enter the market. For November 2023, we have a trio of SUVs coming in at various sizes and price points including the Buick Envista, Toyota Grand Highlander and Mercedes-Benz GLS. And if you're looking for a convertible sports car, the BMW Z4 is one that should make your shortlist, as it finds its way into this month's of Editors' Picks, as well. In case you missed previous Editors' Picks posts, here’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get an EditorsÂ’ Pick designation. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in November that earned an EditorsÂ’ Pick. 2024 Toyota Grand Highlander 2024 Toyota Grand Highlander Limited Hybrid Max View 25 Photos Quick take: The Hybrid Max is the one to get, but the Grand Highlander comes highly recommended for its added space, nicer interior and fuel efficient powertrains. Score: 7 What it competes with: Kia Telluride, Jeep Grand Cherokee L, Chevy Traverse, Honda Pilot, Subaru Ascent, Ford Explorer, Toyota Highlander, Mazda CX-9, Kia Sorento, Buick Enclave, Nissan Pathfinder, VW Atlas, Mazda CX-90 Pros: Two hybrid powertrain options; exceptional cargo space; usable third row; refined and quiet ride. Cons: Expensive for the segment; the lesser hybrid powertrain is noisy and slow. From the editors: Senior Editor, Electric, John Beltz Snyder — "The Grand Highlander is a nice alternative to the standard Highlander for the Toyota faithful for its usable third row. The choice of powertrains is a huge boon, too, whether you want a fuel-sipping hybrid, or solid gas engine or a more robust hybrid with extra performance. YouÂ’re just going to have to pay a little more for it all." In-depth analysis: 2024 Toyota Grand Highlander Review: A strong, new three-row contender   2024 Buick Envista 2024 Buick Envista Sport Touring front three quarter View 19 Photos Quick take: The Envista is one of our top subcompact SUV picks. It packs tremendous value into a compelling design that looks far more expensive than it is. A homerun for Buick.

Toyota and Suzuki partner up on autonomy with capital alliance

TOKYO — Toyota and Suzuki will take small equity stakes in each other, the Japanese car makers said on Wednesday, as they seek to develop newer technologies and meet sweeping changes upending the global auto industry. The tie-up is the latest example of automakers chasing scale to manage costs and boost development. Automakers — especially smaller ones like Suzuki — are struggling to meet the breakneck growth of an industry transformed by the rise of electric vehicles (EVs), ride-hailing and autonomous driving. Toyota will pay around 96 billion yen ($908 million) for a 4.94% stake in Suzuki, while Suzuki will acquire in the market around 48 billion yen ($454 million) worth of shares in Toyota. That is equivalent to 0.2% of Toyota's shares as of Wednesday's closing price, before the announcement. The companies said in a joint statement they intended to overcome challenges facing the industry by "building and deepening cooperative relationships in new fields while continuing to be competitors". They said they would strengthen technologies and products in which each of them specialize in. The firms had said in 2016 they were exploring a partnership, citing technological challenges and the need to keep up with industry consolidation. Earlier this year they said they would produce EVs and compact cars for each other. Automakers around the globe have been joining forces to slash development and manufacturing costs of new technology. Ford and Volkswagen have said they will spend billions of dollars to jointly develop electric and self-driving vehicles. Shares of Toyota and Suzuki closed little changed before the announcement. TOYOTA'S ORBIT The deal brings Suzuki firmly into Toyota' orbit, alongside Daihatsu, Hino Motors, Subaru, Mazda and Yamaha. Rival Nissan has an alliance with France's Renault, although that has been shaken following the ouster of former Chairman Carlos Ghosn, and with Mitsubishi Motors. Honda has a tie-up with General Motors. Toyota has been looking to expand scale in next-generation technology and said this year it would offer free access to patents for EV motors and power control units. It believes that move would help it cut by as much as half the outlays for expanded electric and hybrid vehicle components in the United States, China and Japan. Supplying rivals would greatly expand the scale of production for hardware.