1979 Hj45 Toyota Land Cruiser Troop Carrier Diesel Power Steer Disc Brakes Hj47 on 2040-cars

Auto blog

Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.

IIHS: Drivers safer than passengers in frontal crash test

The Insurance Institute for Highway Safety introduced a small overlap frontal crash test in 2012 that replicates what happens when the front corner of a car impacts another object. In the test, vehicles travel at a speed of 40 mph toward a five-foot-tall barrier with 25 percent of the total width of the car striking the barrier on the driver side. One would assume that vehicles with good small overlap front ratings would protect the driver and the passenger equally. But a recent study from the IIHS proves that passengers aren't as protected as drivers. The IIHS conducted the test on seven small SUVs with good driver-side small overlap ratings and only one of the vehicles, the 2016 Hyundai Tucson, performed well enough to be given a good rating. The other SUVs performance ranged from poor to acceptable. After reviewing the results of the test, the IIHS is deliberating whether it should institute a passenger-side rating as part of its Top Safety Pick criteria. "This is an important aspect of occupant protection that needs more attention," states Becky Mueller, lead author of the study and an IIHS senior research engineer. "More than 1,600 right-front passengers died in frontal crashes in 2014." Since the small overlap front test was introduced, 13 automakers have made structural changes to 97 vehicles with roughly three-quarters earning a good rating after the adjustments. The IIHS' test for frontal ratings is completed with a dummy in the driver's seat and with a barrier overlapping the driver's side. Which makes sense, as passengers aren't always riding in a vehicle. "It's not surprising that automakers would focus their initial efforts to improve small overlap protection on the side of the vehicle that we conduct the tests on," states David Zuby, IIHS executive vice president and chief research officer. "In fact, we encouraged them to do that in the short term if it mean they could quickly make driver-side improvements to more vehicles. As time goes by, though, we would hope they ensure similar levels of protection on both sides." As the IIHS' test revealed, there's a massive difference in safety between the two front seats. Increase passenger safety, according to Mueller, would require automakers to strengthen the occupant compartment by using a different type of material or by making it thicker.

Recharge Wrap-up: First EV to attempt Dakar Rally, Mazda makes bioplastic parts

Zap and Jonway Auto brought their Urbee EV and their new Falcon A-380 SUV to the Peru Motor Show in Lima. Jonway sells its SUV and minivan in Lima through Dai-Ichi Motors, which displayed the cars at the show. According to the companies, their cars "received tremendous interest from the public," including private citizens as well as groups who would use the EVs for security guard service or campus use. Read more in the press release below. California is the US leader when it comes to EVs. In 2013, California had 70,000 battery electric and 104,000 plug-in hybrids. The state boasts almost half of the country's electric vehicles, thanks largely to state and local EV incentives that go beyond the federal tax rebate. California also leads the way in legislation, and nine other states have adopted California's ZEV mandate. Washington, Maryland, Georgia and DC also have their own EV incentives, while some utility companies also offer benefits for EV owners in other states. Still, EV sales have only made up about 0.7 percent of new vehicle sales in 2014. Read more at the US Energy Information Administration website. Toyota will be using landfill gas to help power its Kentucky manufacturing facility. Beginning in 2015, Toyota's Georgetown assembly plant will use electricity converted from landfill-sourced methane gas from Waste Services of the Bluegrass. It will provide enough energy to produce 10,000 vehicles each year. Plus it diverts methane - a greenhouse gas - from entering the atmosphere and helps improve the local air quality. Learn more in the video or Toyota's press release below. Mazda has developed a plant-derived bioplastic for making exterior and interior parts. The dyed plastic doesn't require painting, and it reduces petroleum consumption and carbon emissions in the manufacturing process. The bioplastic will be used for interior parts in the all-new MX-5 before being put into use on the exterior of future vehicles. Mazda will display prototype parts at the Eco-Products 2014 exhibit in Tokyo. Read more in the press release below. Acciona will enter the first-ever zero-emissions vehicle (pictured) to compete in the Dakar Rally. The vehicle uses an electric motor and lithium ion batteries, as well as solar panels to power telemetry and security systems. The Dakar Rally will take place from January 4 through 17 through Argentina, Chile and Bolivia. See Acciona's Dakar EV in the video and read more in the press release below.