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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.

Toyota Tundra ditches V6 for 2015

The Toyota Tundra debuted in new-ish form for the 2014 model year, but as we head into 2015, the truck boasts a couple of small updates. Most notably, the base V6 engine has been discontinued. On top of that, there's the new TRD Pro model on offer for 2015, which we've told you about before.
Why kill the V6? Simple - it was very low-volume. "The Tundra V6 take rate was significantly less than five percent," a Toyota spokesperson confirmed via email to Autoblog. So for 2015, the two V8 engine options remain - a 4.6-liter unit with 310 horsepower and 327 pound-feet of torque, or the more powerful 5.7-liter powerplant with 381 hp and 401 lb-ft. Both engines are mated to a six-speed automatic transmission, and rear-wheel drive is standard. Four-wheel drive, of course, is available with either engine.
The only other noteworthy changes for 2015 include an optional integrated trailer brake for the 5.7-liter models, a new rear under-seat tray storage system for Double Cab trucks, and a spray-in bed-liner. Scroll down for the official press blast.

Toyota to end Australian production by 2017

There is more bad news for the Australian auto industry today, as Toyota has just announced that it will follow General Motors and Ford in shuttering its manufacturing operations on the continent. Production and assembly will cease by the end of 2017, but Toyota will remain in Australia as a sales and distribution company.
"We did everything that we could to transform our business, but the reality is that there are too many factors beyond our control that make it unviable to build cars in Australia," said Toyota Australia President and CEO Max Yasuda.
In an official statement, Yasuda said that the closure would directly affect 2,500 manufacturing employees and an unknown number of corporate workers. However, a report in the Australian newspaper The Age suggests that the jobs of 24,000 workers at Australian auto suppliers could also be in jeopardy. Toyota currently builds its Camry, Camry Hybrid, Aurion sedans in Australia, along with four-cylinder engines, and it plans to begin importing the Camry and Aurion after production stops.