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Weekly Recap: Hyundai scores NFL sponsorship after GM exits

Hyundai replaced General Motors as the official automotive sponsor of the NFL with a four-season deal that was announced this week. Hyundai gets exclusive sponsorship rights for mainstream and luxury cars, though not for pickups – as it doesn't have one in its current portfolio. "There may be another automotive truck sponsor, but not one that competes with our vehicle lineup," a Hyundai spokesman said in an email. That leaves the door open for another truckmaker to enter the fray. GM used the NFL to promote its GMC division, which makes pickups and sport-utility vehicles. The Detroit automaker decided to quit the sponsorship, which it had held since 2001, a GM spokesman said. Financials were not released, but ESPN said the sponsorship will cost Hyundai $50 million a year, double what GM paid. It gives Hyundai access to NFL trademarks for use in its marketing and advertising, and Hyundai will provide promotional vehicles to the league for the Super Bowl and other events. Hyundai celebrated the agreement by lighting up its Fountain Valley, CA, headquarters this week with a football field and the NFL logo. Hyundai's sister company, Kia, is the official automotive sponsor of the NBA. "We are huge football fans at Hyundai and feel there is no better venue to reach consumers, increase consideration, and tell the Hyundai brand story," Hyundai Motor America CEO Dave Zuchowski said in a statement. Hyundai will officially kick off its sponsorship when the NFL season begins on Sept. 10 with a primetime game featuring the Pittsburgh Steelers and the Super Bowl champion New England Patriots. OTHER NEWS & NOTES Toyota Mirai rated at 67 mpge, 312-mile range The Environmental Protection Agency gave the Toyota Mirai hydrogen fuel cell electric car a 67-miles-per-gallon-equivalent rating. The figure is for city, highway, and combined driving. The EPA also said the Mirai will have a 312-mile range. The sedan will arrive in dealerships in California this fall and will cost $57,500, though incentives can drop the price significantly. The Mirai will also be offered as a $499-per-month lease. Both come with three years or $15,000 worth of free fuel. Toyota plans to expand sales to the Northeast United States later. Toyota's top female exec resigns in wake of arrest Meanwhile, in other Toyota news, the automaker's communications chief and top female executive, Julie Hamp, resigned.

Toyota's Bob Carter says far fewer stations needed in shift from gas to hydrogen

Toyota's Bob Carter has been talking about green cars for years, but it's only been recently that his comments have really caught widespread attention thanks to his disparaging remarks about electric vehicle supporters like Elon Musk and Carlos Ghosn and optimism about hydrogen. Speaking at the opening of the Chicago Auto Show this morning, Carter said that Toyota has claimed the "pole position on CAFE," thanks to its deep hybrid bench. The company's green car cred will continue to grow because of its upcoming hydrogen fuel cell car, due out next year. Carter is relentlessly optimistic: "I truly believe fuel cells will fundamentally change how we feel about transportation," he said. The reason, Carter said, is that a hydrogen infrastructure will be easier to install than people think. He referenced a study conducted by the University of California (which we've heard about before) that found that California would only need 68 hydrogen stations to refuel the roughly 10,000 H2 vehicles that Toyota hopes to sell in by 2016 or so. That's a lot more than the nine that exist today, but the state has already approved funding for 20 new stations by 2015 and then up to 100 by 2024. Then he said this: "If every vehicle in California ran on hydrogen, we could meet refueling logistics with only 15 percent of the nearly 10,000 gasoline stations currently operating in the state." "We could meet refueling logistics with only 15 percent of gasoline stations currently operating in CA" - Bob Carter This made us wonder: if the refueling time and range are roughly equivalent between hydrogen and gasoline – Toyota's hydrogen car is supposed to be able to go 300 miles on a five-minute fill-up - then why has the market decided that there should be 10,000 gas stations in California and why would 1,500 be sufficient for hydrogen? "If the locations are optimized," he said, "we don't need 10,000 stations." For example, at major intersections, instead of three gas stations, you'd really just need a single hydrogen one. "There are a lot of questions about the infrastructure, but it's coming. ... It's a hurdle that we've got to climb but it's not as steep as some may imagine." Toyota's Mike Michaels, the national manager, media and public affairs at Toyota Motor Sales, then stepped in to point out that there are gas stations closing and admitted that there might be too many gas stations in California.

Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.