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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.

2024 Land Cruiser-palooza and 2023 Mercedes-AMG C 43 | Autoblog Podcast #792

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd for a news-packed discussion that starts with the story of the week: the official return of the Toyota Land Cruiser for 2024. That's not the only big news item to cover since our last installment, however. Seven major automakers have announced a joint venture to create an "open" American EV charging network as an alternative to Tesla's Supercharger network. Also, Mini showed off a new digital dashboard. After news, Byron talks about his time with the sporty 2023 Mercedes-AMG C 43 and Greg closes the book on the 2023 Honda Accord Hybrid. After that, they spend your money. This week, it's a European sedan showdown with a modern twist.  Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #792 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving 2023 Mercedes-AMG C 43 2023 Honda Accord Hybrid News 2024 Toyota Land Cruiser debuts with retro looks, mid-$50,000 price 7 major automakers to build open EV charging network 2025 Mini Cooper reveals its OLED screen, retro gauges and dog assistant Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Most reliable cars in America

For many people, the absolute worst thing they could experience with a car is for it to break or have a problem. The good news is there are cars that will ease the anxiety of their owners with infrequent trips to the shop. According to Consumer Reports, using data from its annual survey of subscribers, the following ten vehicles are the most reliable in the country, and are ordered from most to least reliable. Any of these vehicles should be a solid choice if the most important consideration in your car-buying decision is predicted reliability. That said, they aren't all vehicles that Autoblog's editors would recommend as fun to drive. We've provided links to our own driving impressions on these vehicles where possible. Also, if you care more about overall brand reliability than individual nameplates, check out the list of most reliable car brands. 10. Mazda CX-9 This three-row Mazda straddles the line where luxury begins and ends. It’s also pretty fun to drive for a family hauler. The fact that itÂ’s reliable to boot makes this an easy SUV to recommend. 9. Subaru Crosstrek Few vehicles define a segment quite like the Subaru Crosstrek. ItÂ’s a good buy, with class-leading ground clearance, tall seating position and good visibility, a surprisingly spacious cargo area, and multiple driving modes geared toward inclement weather and dirt roads. According to CR, it also sees fewer trips to the shop. 8. Toyota Highlander It wouldnÂ’t be a reliability list without at least one Toyota on it, and indeed the Highlander isnÂ’t the sole Toyota here. We especially like the Hybrid for its excellent fuel economy, but CR didnÂ’t break out its reliability list by powertrain. 7. Honda Insight The Honda Insight is a handsome, comfortable and affordable hybrid sedan. ItÂ’s also quite safe, and, according to CRÂ’s data, reliable. 6. Mazda MX-5 Miata Any Autoblog editor will happily profess their love for this Mazda MX-5 Miata. ItÂ’s an incredibly engaging roadster — at least when equipped with a manual transmission — that behaves a lot like the classic British and Italian roadsters of yesteryear. Thankfully, it doesnÂ’t share its European forebearsÂ’ penchant for breaking. 5. Cadillac XT5 One of the newer nameplates on this list, the Cadillac XT5 is also a hot seller for the American luxury brand. ItÂ’s also CadillacÂ’s most reliable vehicle. 4. Toyota Prius The Prius has been the face of Toyota efficiency for years now.