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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.

Toyota plans $126M expansion of MI R&D facility

Toyota has just announced that it will be investing $126 million to expand its operations in and around Ann Arbor, MI. The move will add around 85 jobs. In addition to expanding its Ann Arbor powertrain research and development facility (shown above), Toyota will also establish a new facility for vehicle development at its York Township facility. The move will allow the company to centralize its operations, "increasing their scope, responsibility and decision-making ability," Toyota said in a statement. "Centralizing our vehicle development and powertrain functions here in Michigan is beneficial for our decision-making process and allows us to better respond to changes in the marketplace while improving the speed at which we can offer technology advances to customers," says Ed Mantey, the senior VP at the Toyota Tech Center. This is Toyota's second investment in the Ann Arbor area in barely a year, as it made a $28 million investment late in 2013. Scroll down for the official press release from Toyota. More Toyota in the Motor City Toyota Technical Center to consolidate development operations December 18, 2014 Ann Arbor, Mich. (Dec. 18, 2014) – Toyota announced today that it is planning another expansion of its Southeast Michigan R&D campuses. This marks the third time in just over a year that Toyota has announced plans to increase employment and investment in Michigan. Today's announcement features a total investment of $126 million for the expansion of Toyota's powertrain operations at its Ann Arbor campus and the consolidation of vehicle development operations at a new facility on its York Township campus. Both vehicle development and powertrain functions will become centralized in Michigan, increasing their scope, responsibility and decision-making ability while providing improved communication and access to the company's direct procurement division. Approximately 85 jobs will relocate to Michigan from California by the end of 2016 as a part of the move. In late 2013, Toyota announced a $28 million expansion of its Ann Arbor operations and earlier this year announced the addition of 250 direct procurement and supplier engineering development positions currently based in Erlanger, Ky. "The Technical Center continues to be a vital part of our growing North American operations that enables Toyota to package greater value for our customers," said Ed Mantey, senior vice president at the Toyota Technical Center.

A few pre-race notes and a lot of photos from the 24 Hours of Le Mans

The 82nd running of the 24 Hours of Le Mans is on.
Audi has won 12 of the last 15 events, the scion of Auto Union is trying to make it 13 this year. To do so, it will have to overcome a situation faced only three other times during its dominance of La Sarthe: underdog status. Toyota has won the first two races of the year and claimed pole for this race, the rumor being that this year it's Toyota's race to lose.
And then there's Porsche. It's been 16 years since the Stuttgart brand raced on the top rung at Le Mans, three years years since it announced its return, just a year since it acquired Mark Webber in a signing that wasn't subtle and a few months since we got eyes on the 919 Hybrid.