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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's Texas move could boost state's economy by $7.2B in 10 years

They say everything is bigger in Texas, and apparently that includes the Toyota's effect on the economy. The giant Japanese automaker's new headquarters in Plano, TX, will add an estimated $7.2 billion to the state over the next 10 years, according to a new study commissioned by the city and cited by Bloomberg.
The benefits appear to be an absolute steal compared to the direct incentives that Plano and the state are giving Toyota. The report finds that by the time the automaker's campus is complete in 2018, it could have 3,650 full-time workers there at an average salary of $104,000. The city has prepared $6.75 million in grants, plus property tax discounts, according to Bloomberg. In addition to that, the state is offering the business $40 million in incentives from its Texas Enterprise Fund. This is still a fraction of what Toyota is estimated to bring in.
Toyota announced in April that it would move its US operations to Plano after being headquartered in California since 1957. The move affects thousands of employees from the sales and engineering divisions. The first workers will arrive there this fall, but Toyota will eventually have a whole campus in Plano by late 2017. The move is expected to save it huge amounts in taxation and offer employees a lower cost of living. Toyota North America CEO Jim Lentz also says that the Texas location puts the headquarters closer to more of the business' factories in the south. Texas certainly appears to be showing it some southern hospitality.

Honda, Nissan, and Toyota expand Takata recall by millions worldwide

Honda, Nissan, and Toyota are expanding their global Takata airbag inflator recalls to cover millions of additional vehicles. Toyota alone is adding about 5 million vehicles to its campaign globally, and over 600,000 of those are in the US, according to Automotive News. Nissan's expansion includes an estimated 1.56 million cars worldwide, including about 326,000 in North America, but the exact models from the company are not yet known. According to Automotive News, Honda has also announced plans to increase the scope of its campaign but hasn't yet disclosed specific models, total numbers, or their location. Company spokesperson Chris Martin tells Autoblog that none of these vehicles are in the US, though. In the US, Toyota is replacing the driver's side front inflators on 160,000 examples of the 2004 and 2005 RAV4 nationwide. It's also swapping out the front passenger side parts for 177,000 units of the 2003 and 2004 Tundra (pictured above) and 2004 Sequoia. The automaker is also expanding its regional recalls in high-humidity areas to include the passenger-side inflators of 300,000 more vehicles. In total, the affected models are 2005-2007 model-year Corolla, Matrix, Sequoia, and Lexus SC; plus the 2005-2006 Tundra is included, as well. All of the states that are covered by this campaign are listed in Toyota's announcement, below. In a statement to Autoblog, Nissan said that it's currently working with the National Highway Traffic Safety Administration on this campaign. "We expect to have a more formal statement and additional information by Friday, May 15," the company said. TOYOTA EXPANDS TAKATA AIRBAG SAFETY RECALLS TORRANCE, Calif., May 12, 2015 – Toyota Motor Sales, U.S.A., Inc. today announced that it is expanding its recalls involving Takata air bag inflators. First, Toyota will conduct a recall to replace Takata-supplied driver front airbag inflators on approximately 160,000 model year 2004 and 2005 RAV4 sport utility vehicles. The inflators could potentially be susceptible to rupture when deployed in a crash, increasing the risk of injury to vehicle occupants. For similar reasons, Toyota will expand two existing recalls for Takata-supplied front passenger airbag inflators, namely: Toyota's nationwide recall launched in April 2013 will expand to include approximately an additional 177,000 model year 2003-2004 Tundra and model year 2004 Sequoia vehicles.