We Finance! Access Cab Sr5 4x4 4.0l V6 Auto A/c 1owner No Accidents Carfax Cert! on 2040-cars

Auto blog

Toyota profits up 23% on high US sales, despite mounting legal costs

Toyota earned $9.3 billion in net income in the financial year that ends next month. The number beats earlier forecasts and marks a five-year high for the automaker, with both operating income and revenue up by 9.5 percent and 2.5 percent, respectively. Toyota saw quarterly profit enjoy a year-on-year jump of 23.4 percent, with the manufacturer earning more than $1 billion between October and December 2012. The good news comes in spite of the fact that the Japanese automaker actually endured an operating loss in North America, due in part to legal fees.
Toyota is set to pay more than $1 billion to owners who claim their vehicles decreased in value as a result of the company's recent spate of recalls. Even so, all three of the automaker's brands enjoyed a 13.5 percent sales increase in the US in the last quarter, beating the industry average. Toyota faltered in Europe, however, where it earned $99 million in operating profit last year, compared to $111 million in 2011. You can take a closer look at the company's full press release below for more information.

GM, Audi, Jaguar halt Russian sales amidst ruble's collapse

The value of Russia's ruble currency has sunk like a stone tossed in the Volga for much of the year, losing over 40 percent of its worth since June. The change is having bizarre effects on the auto industry there and leaving some automakers scrambling to adjust. According to Bloomberg, Russians are buying up luxury goods including automobiles at the moment to have a physical investment in case the ruble sinks further. However, with the money worth so little, the companies aren't making much from these transactions. Things are so dire that several automakers are temporarily ending deliveries until the situation stabilizes. According to Bloomberg, General Motors stopped sales on December 16 with no set date to start again. Audi did the same thing but with the intention to resume once it has adjusted model pricing. Jaguar Land Rover terminated business until December 19 to see how things changed. Toyota is increasing its pricing, as well, but keeping business open at the same time. Some automakers have subtly been reacting to the slumping Russian auto market all year. The moves have included Volkswagen cutting production by 30,000 units from its factory in Kaluga. Ford also got rid of 950 workers from two plants due to low demand. Some analysts have even speculated that the contracting industry and possibility of lower import duties into the country could cause companies to end their manufacturing in Russia completely.

Toyota to axe Venza by June 2015

After years of wallowing about the market as a slow-selling alternative to its own RAV4 and Highlander (among over CUVs), Toyota is putting the Venza out to pasture, the company confirmed. Production will officially cease by June of this year, although Toyota will continue to screw together the car for export markets until September of 2017. No jobs will be affected at the Toyota Motor Manufacturing factory in Kentucky. TMMK already builds the Avalon, Camry and their hybrid variants. To make up for the loss of the Venza, Toyota has already upped production of the RAV4, and is planning on increasing supplies of its Highlander at its Princeton, IN factory. Venza sales have been, in a word, abysmal. According to CarsDirect, Toyota sold just 2,100 Venzas in January of 2015, while sales of the RAV4 and Highlander hit nearly 20,000 units for the former and exceeded 11,000 for the latter. Considering that, freeing up the showroom space occupied by the Venza sounds like a smart move.