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Toyota outpaces Detroit rivals in profitability per vehicle

As the world's highest volume automaker in 2014, you would probably expect Toyota to project a healthy financial outlook for the end of its fiscal year on March 31. But thanks in large part to the weak value of the yen and a large number of export vehicles, the automaker could make about four times more than General Motors, despite selling just a few hundred thousand more cars than its Detroit competitor last year. Toyota forecasts the equivalent of $24.5 billion in earnings for the fiscal year, compared to $6.5 billion from GM in 2014. According to an analysis by The Detroit News, the Japanese automaker is expecting average earnings of $2,726 on each vehicle it sells, versus $994 from Ford and $654 from GM. The key to this massive success has less to do with Toyota's products and much more in the company's location. The yen's value to the dollar is at its lowest point in decades. Also, according to The News, the automaker exports about 45 percent of its Japan-assembled vehicles, meaning bigger profits in the conversion to foreign currencies. Coupled with strong demand in the US, and the business looks even better. Automakers in the US are peeved by Toyota's currency-based boost. According to The News, there are allegations of manipulation of the yen's value, and Ford president of the Americas Joe Hinrichs calls the problem the "major trade barrier of the 21st century." He thinks the Japanese companies are making about $2,000 per exported vehicle due to the conversion. Intriguingly, it wasn't that long ago when Japanese automakers were moving operations from the country due to the strong value of the yen to the dollar curtailing profits. Infiniti shifted production, and there were fears that Toyota might close some of its factories, as well. Related Video: News Source: The Detroit NewsImage Credit: Shizuo Kambayashim / AP Photo Earnings/Financials Plants/Manufacturing Toyota toyota earnings toyota profit

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.

PSA: Toyota wants to save your life, needs an hour of your time

Toyota wrote Autoblog to ask if we could spread the word about the Takata airbag inflator recall. Defective inflators remain installed in tens of millions of cars made by 19 carmakers, with manufacture dates that go back to the year 2000. Each inflator compounds the risk of serious injury or death in an airbag-activating crash. With a new ad campaign called "in about an hour," Toyota wants to make sure that unaware owners, or overly busy owners, know they can get their Toyota, Lexus, and Scion vehicles repaired free of charge in about the time it takes to do a load of laundry. The campaign focuses on cities in three so-called Zone A states where hot, humid climates worsen the threat of the ruptured inflators: Los Angeles, Dallas, and Miami. However, every owner everywhere who cares about his life, or his child's life, should at least check to see if his car is affected. All it takes is a quick VIN entry at the dedicated recall site at Toyota.com/Recall. The results will let you know if your car is affected and, if so, locate a local dealer for the free fix. The National Highway Transportation Safety Administration said the Takata affair has become "the largest and most complex safety recall in U.S. history." The numbers so far suggest the recall covers more than 42 million vehicles and more than 60 million airbags. Autoweek keeps an updated list of Takata information, including every make and model on the recall list. Consumer Reports published a list of frequently asked questions covering issues directly related and tangential to the recall. The 19 automakers maintain pages dedicated to the issue; Fiat Chrysler lists every relevant model and how it prioritizes repairs by Zone, Honda says it offers a free rental car while owner cars are repaired, Daimler vans says its fix only takes about an hour. And of course NHTSA serves all owners with its own VIN lookup site. We encourage you to check your vehicle — the life you save could be your own. Related Video: