Posts Tagged ‘Toyota Motor’
Car of the Year: Toyota Camry
Mark Clarkson asked:
Not much of a surprise for me and perhaps for dozens of other car and vehicle aficionados. Sure, the Toyota Motor Corporation’s Toyota Camry has once again been recognized to be quite a remarkable car. This time, the recognition comes from the Motor Trend magazine and it gave the Toyota Camry the Car of the Year award for 2007.
It was sure not just any kind of competition. You see, the Toyota Camry was up against various car models. In fact, it had to go through close scrutiny and it had some other twenty seven other vehicle models to compete with. Yes, the Toyota Camry was up against other vehicles from various auto makers like General Motors, Nissan, and Honda.
According to Motor Trend, as part of its recognition for such a reliable and trusted vehicle, it has also honored all of the vehicles under the Toyota Camry name for the model year 2007. The list of Toyota Camry versions for 2007 even includes a hybrid vehicle that runs on gasoline and electricity. Angus MacKenzie is the editor in chief of Motor Trend and in a statement he delivered a couple of days back, he says, “Creating an innovative, engaging automobile with broad mainstream appeal is one of the toughest tasks facing any automaker. The Camry is the one car rival automakers all wish they could build.”
As on the Toyota Motor Corporation’s end, it was Mike Michels, the spokesperson for the company, who shared the company’s view: “It’s hard to quantify the effect on sales, but the Motor Trend award has a lot of corollary benefits. This really energizes the sales operation, the dealers, and for internal morale it’s a wonderful thing.” Toyota is also the creator of other vehicle models like the Toyota Corolla and also of vehicle products like Toyota T100 body parts.
So what was the Toyota Camry up against? Well, the list of contenders that the Toyota Camry had to deal with included the Saturn Aura which is a sedan from GM. Also, some vehicles from the Nissan line also competed against the Toyota Camry. These include the sedans Nissan Altima, Nissan Sentra, and the Infiniti G35.
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Not much of a surprise for me and perhaps for dozens of other car and vehicle aficionados. Sure, the Toyota Motor Corporation’s Toyota Camry has once again been recognized to be quite a remarkable car. This time, the recognition comes from the Motor Trend magazine and it gave the Toyota Camry the Car of the Year award for 2007.
It was sure not just any kind of competition. You see, the Toyota Camry was up against various car models. In fact, it had to go through close scrutiny and it had some other twenty seven other vehicle models to compete with. Yes, the Toyota Camry was up against other vehicles from various auto makers like General Motors, Nissan, and Honda.
According to Motor Trend, as part of its recognition for such a reliable and trusted vehicle, it has also honored all of the vehicles under the Toyota Camry name for the model year 2007. The list of Toyota Camry versions for 2007 even includes a hybrid vehicle that runs on gasoline and electricity. Angus MacKenzie is the editor in chief of Motor Trend and in a statement he delivered a couple of days back, he says, “Creating an innovative, engaging automobile with broad mainstream appeal is one of the toughest tasks facing any automaker. The Camry is the one car rival automakers all wish they could build.”
As on the Toyota Motor Corporation’s end, it was Mike Michels, the spokesperson for the company, who shared the company’s view: “It’s hard to quantify the effect on sales, but the Motor Trend award has a lot of corollary benefits. This really energizes the sales operation, the dealers, and for internal morale it’s a wonderful thing.” Toyota is also the creator of other vehicle models like the Toyota Corolla and also of vehicle products like Toyota T100 body parts.
So what was the Toyota Camry up against? Well, the list of contenders that the Toyota Camry had to deal with included the Saturn Aura which is a sedan from GM. Also, some vehicles from the Nissan line also competed against the Toyota Camry. These include the sedans Nissan Altima, Nissan Sentra, and the Infiniti G35.
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Toyota Slashes Sales Plan as US Rate Stalls Its Momentum W
utut1 asked:
From:http://www.chinatopsupplier.com/
Tag:Toyota,slashes sales plan,US,SUV production
Earlier this month, Toyota announced sprawling manufacturing changes in the US and shutting down truck and SUV production, to respond to changing consumer demand.
Even with the lower number announced yesterday, Toyota Motor Corp plans to sell more vehicles than it did last year.
The pace of Toyota’s growth has been slowing. Under the new target it would inch up 1 percent this year, in contrast to a 6-percent climb in 2007, when it sold 9.37 million vehicles.
“The main reason for the change came from the faltering United States economy, and how rising oil prices and material costs are dampening the market there overall,” said Toyota spokeswoman Kayo Doi. The Japanese and west European markets were also sluggish, but Toyota’s solid sales in China, the Middle East and other markets were enough to maintain its worldwide growth, she said.
Toyota now plans to sell 2.44 million vehicles in the US, far less upbeat than the earlier plan to sell 2.64 million vehicles. It also slashed the sales plan for North America to 2.67 million vehicles from 2.84 million vehicles.
The new plan marks a nearly 7-percent drop from Toyota’s 2007 sales results of 2.62 million vehicles for the US, and a 5-percent slip from 2.82 million vehicles for North America. Prior to yesterday’s revision, Toyota had expected sales to grow in North America, including the US. The manufacturer of the Camry sedan, Corolla subcompact and Prius hybrid also lowered its production plan for this year to 9.5 million vehicles – unchanged from the previous year.
Earlier, it had set the manufacturing target at 9.95 million vehicles, which would have represented 5-percent growth from 2007. Tatsuo Yoshida, auto analyst with UBS Securities Japan in Tokyo, said woes over US auto sales weren’t likely to ease until next year.
“I think Toyota is giving rather cautious targets,” he said. “GM is in a worse state in reliance on trucks, but Toyota also has the same problem.”
Toyota, the world’s second-largest auto maker in annual vehicles sales after General Motors Corp, has averted the battering its American rivals have taken from soaring gas prices.
Toyota has long boasted a reputation for models with good mileage.
And its sales are still expected to be strong in emerging markets such as Russia, China and India, offsetting some of the losses in North America.
How the full-year tallies will add up is still uncertain as Detroit-based GM is also reporting growth in new markets. GM, the world’s top auto maker for 77 years straight, doesn’t release full-year sales forecasts.
Toyota outsold GM by 277,532 vehicles in the first six months of this year, selling 4.82 million vehicles worldwide. The call was close in 2007. GM eked out a win at 9.37 million to Toyota’s 9.366 million vehicles.
Also hurting Toyota is the sluggish Japanese auto market, where Toyota is the top-seller. Toyota said it now ex pects to sell 2.23 million vehicles in its domestic market this year, rather than the initial 2.27 million. It sold 2.26 million vehicles in Japan in 2007.
With auto sales ailing in the key North American market, speculation had been growing that Toyota would lower its sales targets. Toyota reviews such plans every half-year or so. But even Toyota is struggling to shift production from gas-guzzling sport utility vehicles and trucks to smaller models.
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From:http://www.chinatopsupplier.com/
Tag:Toyota,slashes sales plan,US,SUV production
Earlier this month, Toyota announced sprawling manufacturing changes in the US and shutting down truck and SUV production, to respond to changing consumer demand.
Even with the lower number announced yesterday, Toyota Motor Corp plans to sell more vehicles than it did last year.
The pace of Toyota’s growth has been slowing. Under the new target it would inch up 1 percent this year, in contrast to a 6-percent climb in 2007, when it sold 9.37 million vehicles.
“The main reason for the change came from the faltering United States economy, and how rising oil prices and material costs are dampening the market there overall,” said Toyota spokeswoman Kayo Doi. The Japanese and west European markets were also sluggish, but Toyota’s solid sales in China, the Middle East and other markets were enough to maintain its worldwide growth, she said.
Toyota now plans to sell 2.44 million vehicles in the US, far less upbeat than the earlier plan to sell 2.64 million vehicles. It also slashed the sales plan for North America to 2.67 million vehicles from 2.84 million vehicles.
The new plan marks a nearly 7-percent drop from Toyota’s 2007 sales results of 2.62 million vehicles for the US, and a 5-percent slip from 2.82 million vehicles for North America. Prior to yesterday’s revision, Toyota had expected sales to grow in North America, including the US. The manufacturer of the Camry sedan, Corolla subcompact and Prius hybrid also lowered its production plan for this year to 9.5 million vehicles – unchanged from the previous year.
Earlier, it had set the manufacturing target at 9.95 million vehicles, which would have represented 5-percent growth from 2007. Tatsuo Yoshida, auto analyst with UBS Securities Japan in Tokyo, said woes over US auto sales weren’t likely to ease until next year.
“I think Toyota is giving rather cautious targets,” he said. “GM is in a worse state in reliance on trucks, but Toyota also has the same problem.”
Toyota, the world’s second-largest auto maker in annual vehicles sales after General Motors Corp, has averted the battering its American rivals have taken from soaring gas prices.
Toyota has long boasted a reputation for models with good mileage.
And its sales are still expected to be strong in emerging markets such as Russia, China and India, offsetting some of the losses in North America.
How the full-year tallies will add up is still uncertain as Detroit-based GM is also reporting growth in new markets. GM, the world’s top auto maker for 77 years straight, doesn’t release full-year sales forecasts.
Toyota outsold GM by 277,532 vehicles in the first six months of this year, selling 4.82 million vehicles worldwide. The call was close in 2007. GM eked out a win at 9.37 million to Toyota’s 9.366 million vehicles.
Also hurting Toyota is the sluggish Japanese auto market, where Toyota is the top-seller. Toyota said it now ex pects to sell 2.23 million vehicles in its domestic market this year, rather than the initial 2.27 million. It sold 2.26 million vehicles in Japan in 2007.
With auto sales ailing in the key North American market, speculation had been growing that Toyota would lower its sales targets. Toyota reviews such plans every half-year or so. But even Toyota is struggling to shift production from gas-guzzling sport utility vehicles and trucks to smaller models.
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Price for 2007 Toyota Corolla Already Out
Margaret Adams asked:
Toyota’s Corolla line of vehicles has been and still is one of the most popular cars in the auto market. As for the next year, the MSRP, or the manufacturer’s suggested retail price, for the new and renewed 2007 Toyota Corolla has already been announced by Toyota Motor Sales, USA, Inc. This 2007 Toyota Corolla has been proclaimed to be a carryover from 2006 model year. Come August this year, the 2007 Toyota Corolla would be available in dealerships around the country.
The 2007 Toyota Corolla is a part of the ninth generation of Toyota Corollas. The very first Toyota Corolla was produced in the year 1966. The car became a success that now, this vehicle is being produced in various countries around the world that includes Japan, United States, Canada, India, Brazil, Philippines, Venezuela, United Kingdom, China, South Africa, Turkey, Thailand, and Pakistan.
This ninth generation of Toyota Corollas started back in the year 2000. It has been built in four body styles – the sedan, the hatchback with three doors, the hatchback with four doors, and the wagon. Competition for the Toyota Corolla includes the Honda Civic, Mazda Mazda3, Hyundai Elantra, and the Nissan Sentra. And because this vehicle has already been in the market and has been popular among consumers and drivers for years, Toyota parts are easy to find. Where you buy your Toyota pickup truck parts is also a good source of replacement parts for this vehicle model.
The newest Toyota Corolla has been made available in three model grades. There is the 2007 Toyota Corolla CE, the S grade which has been created to be sporty, and the LE grade which boasts of various equipments and features. $14,205 is money well spent on the 2007 Toyota Corolla with a five speed manual transmission. If you are looking forward though for the Toyota Corolla XRS grade, you are going to get disappointed for this has been discontinued for the next year.
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Toyota’s Corolla line of vehicles has been and still is one of the most popular cars in the auto market. As for the next year, the MSRP, or the manufacturer’s suggested retail price, for the new and renewed 2007 Toyota Corolla has already been announced by Toyota Motor Sales, USA, Inc. This 2007 Toyota Corolla has been proclaimed to be a carryover from 2006 model year. Come August this year, the 2007 Toyota Corolla would be available in dealerships around the country.
The 2007 Toyota Corolla is a part of the ninth generation of Toyota Corollas. The very first Toyota Corolla was produced in the year 1966. The car became a success that now, this vehicle is being produced in various countries around the world that includes Japan, United States, Canada, India, Brazil, Philippines, Venezuela, United Kingdom, China, South Africa, Turkey, Thailand, and Pakistan.
This ninth generation of Toyota Corollas started back in the year 2000. It has been built in four body styles – the sedan, the hatchback with three doors, the hatchback with four doors, and the wagon. Competition for the Toyota Corolla includes the Honda Civic, Mazda Mazda3, Hyundai Elantra, and the Nissan Sentra. And because this vehicle has already been in the market and has been popular among consumers and drivers for years, Toyota parts are easy to find. Where you buy your Toyota pickup truck parts is also a good source of replacement parts for this vehicle model.
The newest Toyota Corolla has been made available in three model grades. There is the 2007 Toyota Corolla CE, the S grade which has been created to be sporty, and the LE grade which boasts of various equipments and features. $14,205 is money well spent on the 2007 Toyota Corolla with a five speed manual transmission. If you are looking forward though for the Toyota Corolla XRS grade, you are going to get disappointed for this has been discontinued for the next year.
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South African-made Toyota Corollas Head to Europe
Kaye Leery asked:
The South African subsidiary of motor company Toyota is expected to export its locally produced Toyota Corollas from Durban to Europe starting next year. This is a move set to build up the economy of KwaZulu-Natal.
The decision was taken after a meeting on Wednesday in Tokyo, Japan between the provincial government and Toyota representatives.
The vice chairperson of Toyota Motor Corporation, Katsuhiro Nakagawa said that Toyota South Africa would produce Corollas specifically to be exported to Europe. The statement was made at the meeting with KwaZulu-Natal Premier Sbu Ndebele.
In his statement, Mr. Nakagawa announced that almost 50 engineers had already been sent to South Africa to help with the manufacturing of the vehicles. He said that Toyota is determined to produce more vehicles in South Africa for exportation to other countries which is vital for South Africa’s economy.
Furthermore, he said that they also wanted an increased presence in Japanese automotive parts suppliers in South Africa since the country was considered to be the gateway to the rest of the continent. According to him, they want to make their South African plant more competitive compared to Toyota plants in other countries.
He acknowledged that the training of workers would be necessary to achieve, in a bid to ensure the competitiveness of their South African plant. He uttered that if they train more workers, more automotive parts supplier companies will go to South Africa.
He also explained that they planned to put up a Toyota Training School in South Africa, which would benefit the company’s employees and create a much needed skills base for growth.
The production of the latest model of the Toyota Corolla in South Africa is well in process and will be launched in August this year.
In his speech, Mr. Nakagawa further said that they are trying hard to introduce new models of Toyota to be produced is South Africa as well.
Premier Ndebele appreciated the assurance shown by the company to South Africa, particularly to KwaZulu-Natal. He said that they appreciate the new investment of more than R4 billion at the plant at Prospecton in Durban. But he would also like to see Toyota producing other automotive components in KwaZulu-Natal.
Mr. Ndebele said that they would welcome and highly appreciate the development of an Automotive Supplier Park in the province as it is important to accelerate training of the current and future workforce.
He added that training is needed all the time for the market elsewhere.
Toyota Motor Corporation is the world’s leading automaker. Maker of quality Toyota tonneau covers, the car company has held its reputation as an excellent manufacturer since its first year of existence.
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The South African subsidiary of motor company Toyota is expected to export its locally produced Toyota Corollas from Durban to Europe starting next year. This is a move set to build up the economy of KwaZulu-Natal.
The decision was taken after a meeting on Wednesday in Tokyo, Japan between the provincial government and Toyota representatives.
The vice chairperson of Toyota Motor Corporation, Katsuhiro Nakagawa said that Toyota South Africa would produce Corollas specifically to be exported to Europe. The statement was made at the meeting with KwaZulu-Natal Premier Sbu Ndebele.
In his statement, Mr. Nakagawa announced that almost 50 engineers had already been sent to South Africa to help with the manufacturing of the vehicles. He said that Toyota is determined to produce more vehicles in South Africa for exportation to other countries which is vital for South Africa’s economy.
Furthermore, he said that they also wanted an increased presence in Japanese automotive parts suppliers in South Africa since the country was considered to be the gateway to the rest of the continent. According to him, they want to make their South African plant more competitive compared to Toyota plants in other countries.
He acknowledged that the training of workers would be necessary to achieve, in a bid to ensure the competitiveness of their South African plant. He uttered that if they train more workers, more automotive parts supplier companies will go to South Africa.
He also explained that they planned to put up a Toyota Training School in South Africa, which would benefit the company’s employees and create a much needed skills base for growth.
The production of the latest model of the Toyota Corolla in South Africa is well in process and will be launched in August this year.
In his speech, Mr. Nakagawa further said that they are trying hard to introduce new models of Toyota to be produced is South Africa as well.
Premier Ndebele appreciated the assurance shown by the company to South Africa, particularly to KwaZulu-Natal. He said that they appreciate the new investment of more than R4 billion at the plant at Prospecton in Durban. But he would also like to see Toyota producing other automotive components in KwaZulu-Natal.
Mr. Ndebele said that they would welcome and highly appreciate the development of an Automotive Supplier Park in the province as it is important to accelerate training of the current and future workforce.
He added that training is needed all the time for the market elsewhere.
Toyota Motor Corporation is the world’s leading automaker. Maker of quality Toyota tonneau covers, the car company has held its reputation as an excellent manufacturer since its first year of existence.
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2007 Toyota Prius Hybrid Gets Price Increase
Tracy Dawson asked:
The 2007 Toyota Prius Hybrid vehicle is already ready. The Toyota Motor Corporation, the mother that built this exceptional vehicle, made sure that it would bring forth new features and new options for the auto market for the coming year. And along with that, the company also decided on bringing up the tag price of this hybrid vehicle by 2.1 per cent, amounting to $450, from the price that it used to have. And along with that, the auto market should better be ready to meet the newest Toyota Prius Hybrid version.
Just like the previous Toyota Prius vehicles, the 2007 version would be made up of the best kind of auto parts Toyota. But now, the Toyota Prius Hybrid would hold a price of $22,175. This is according to a statement from the company’s California unit. As per the Toyota Prius Hybrid Touring Edition vehicle, it would now be sold at $23,070. But it would be the proud owner of larger wheels plus a much stiffer suspension.
Now, if you are interested, you better camp out of your local Toyota dealer. These Toyota Prius Hybrid vehicles would be going on sale this month.
Toyota has been known as the world’s best manufacturer of vehicles that could run on both gasoline and electric charges. This company has been the brain and the brawn behind various hybrids that are fuel efficient. The list includes the Toyota Camry hybrid version, the Lexus GS sedan hybrid, the Toyota Highlander, and the Lexus RX SUV hybrid. And these creations have given the company that much needed increase in sales. Now, Toyota is enjoying the 10 per cent increase in their vehicles’ sales in the US with the Toyota Prius as their top selling hybrid vehicle.
And with the continuous increase in the prices of fuel, Toyota would sure be able to enjoy from this situation. People are now opting to own and use hybrid vehicles for this type of vehicles can actually help owners and drivers save on fuel costs. They are also very friendly to the environment for it has a reduced amount of emissions.
toyota
The 2007 Toyota Prius Hybrid vehicle is already ready. The Toyota Motor Corporation, the mother that built this exceptional vehicle, made sure that it would bring forth new features and new options for the auto market for the coming year. And along with that, the company also decided on bringing up the tag price of this hybrid vehicle by 2.1 per cent, amounting to $450, from the price that it used to have. And along with that, the auto market should better be ready to meet the newest Toyota Prius Hybrid version.
Just like the previous Toyota Prius vehicles, the 2007 version would be made up of the best kind of auto parts Toyota. But now, the Toyota Prius Hybrid would hold a price of $22,175. This is according to a statement from the company’s California unit. As per the Toyota Prius Hybrid Touring Edition vehicle, it would now be sold at $23,070. But it would be the proud owner of larger wheels plus a much stiffer suspension.
Now, if you are interested, you better camp out of your local Toyota dealer. These Toyota Prius Hybrid vehicles would be going on sale this month.
Toyota has been known as the world’s best manufacturer of vehicles that could run on both gasoline and electric charges. This company has been the brain and the brawn behind various hybrids that are fuel efficient. The list includes the Toyota Camry hybrid version, the Lexus GS sedan hybrid, the Toyota Highlander, and the Lexus RX SUV hybrid. And these creations have given the company that much needed increase in sales. Now, Toyota is enjoying the 10 per cent increase in their vehicles’ sales in the US with the Toyota Prius as their top selling hybrid vehicle.
And with the continuous increase in the prices of fuel, Toyota would sure be able to enjoy from this situation. People are now opting to own and use hybrid vehicles for this type of vehicles can actually help owners and drivers save on fuel costs. They are also very friendly to the environment for it has a reduced amount of emissions.
toyota
Toyota’s First Operating Loss Since 1938 Spells Trouble for Japanese Economy
Money Morning asked:
Joining a chorus of ailing U.S. automakers, Toyota Motor Co. (TM) yesterday (Monday) forecast its first operating loss in 71 years on plummeting demand and sharp appreciation of the Japanese yen. The announcement prompted Moody’s Investors Service to consider downgrading the company’s top-rated credit.
But the news may have bigger implications for Japan’s entire economy, as the country’s exports continue to take a beating from sagging worldwide demand for its products.
Japanese exports plunged 26.7% in November from a year ago. Shipments to the U.S. slid an unprecedented 34%, Japan’s Finance Ministry said. A strong yen, which makes Japanese goods more expensive, combined with deflated consumer spending, is hammering Japanese exporters.
Toyota will post a $1.7 billion (150 billion yen) loss in the year through March, it said in a statement, scrapping a previous forecast of a $6.6 billion. The last time Toyota posted an operating loss was in the year ended March 1938, spokesman Hideaki Homma told Bloomberg News.
The environment we’re in is extremely tough,” President Katsuaki Watanabe told reporters in Nagoya. “We’re facing an unprecedented emergency situation. Unfortunately, we can’t see the bottom.”
U.S. auto sales are down 16% this year, led by declines of 28% for Chrysler LLC, 22% for General Motors Corp. (GM) and 19% for Ford Motor Co. (F), Bloomberg News reported. The three U.S. automakers will close about 59 factories over the next month as they struggle to avoid bankruptcy.
It is difficult to envision any swift recovery from the present damage in the U.S., Toyota’s core market, and we anticipate increasing cuts in overseas local production,” wrote Barclays Capital (BCS) analyst Tsuyoshi Mochimaru in a research note on Dec. 19, according to MarketWatch.
Compounding the demand problem is a surging yen, which erodes overseas profits for Japanese exporters. The yen has gained 25% against the dollar this year.
But Toyota’s problems may just be the tip of the iceberg for Japan’s economy. The November export plunge was the biggest drop on record, as global demand for cars and electronics collapsed.
Earlier this month, Sony Corp. (ADR: SNE) announced it was cutting 8,000 jobs, or about 4% of its worldwide workforce. Sony recently blamed a 72% profit plunge in the third quarter partially on a resurgent yen. Electronics company Sanyo Electric Co. (OTC: SANYY), facing tough market conditions around the globe, agreed Friday to sell itself to rival Panasonic Corp. (PC).
“Japan’s economy has never weaned itself off of the overbearing reliance on exports, and especially to the U.S.,” said Kirby Daley, senior strategist and head of capital introductions at Newedge Group. “Japan did nothing to prepare itself” for the collapse in demand from abroad, he told Bloomberg News.
Like the U.S. Federal Reserve, The Bank of Japan has been hacking away at interest rates in an attempt to stanch the economic bleeding. Japan’s central bank lowered rates to 0.1% on Friday. But the rate cuts haven’t been enough to kickstart the Japanese economy, as the yen has remained stubbornly strong.
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Joining a chorus of ailing U.S. automakers, Toyota Motor Co. (TM) yesterday (Monday) forecast its first operating loss in 71 years on plummeting demand and sharp appreciation of the Japanese yen. The announcement prompted Moody’s Investors Service to consider downgrading the company’s top-rated credit.
But the news may have bigger implications for Japan’s entire economy, as the country’s exports continue to take a beating from sagging worldwide demand for its products.
Japanese exports plunged 26.7% in November from a year ago. Shipments to the U.S. slid an unprecedented 34%, Japan’s Finance Ministry said. A strong yen, which makes Japanese goods more expensive, combined with deflated consumer spending, is hammering Japanese exporters.
Toyota will post a $1.7 billion (150 billion yen) loss in the year through March, it said in a statement, scrapping a previous forecast of a $6.6 billion. The last time Toyota posted an operating loss was in the year ended March 1938, spokesman Hideaki Homma told Bloomberg News.
The environment we’re in is extremely tough,” President Katsuaki Watanabe told reporters in Nagoya. “We’re facing an unprecedented emergency situation. Unfortunately, we can’t see the bottom.”
U.S. auto sales are down 16% this year, led by declines of 28% for Chrysler LLC, 22% for General Motors Corp. (GM) and 19% for Ford Motor Co. (F), Bloomberg News reported. The three U.S. automakers will close about 59 factories over the next month as they struggle to avoid bankruptcy.
It is difficult to envision any swift recovery from the present damage in the U.S., Toyota’s core market, and we anticipate increasing cuts in overseas local production,” wrote Barclays Capital (BCS) analyst Tsuyoshi Mochimaru in a research note on Dec. 19, according to MarketWatch.
Compounding the demand problem is a surging yen, which erodes overseas profits for Japanese exporters. The yen has gained 25% against the dollar this year.
But Toyota’s problems may just be the tip of the iceberg for Japan’s economy. The November export plunge was the biggest drop on record, as global demand for cars and electronics collapsed.
Earlier this month, Sony Corp. (ADR: SNE) announced it was cutting 8,000 jobs, or about 4% of its worldwide workforce. Sony recently blamed a 72% profit plunge in the third quarter partially on a resurgent yen. Electronics company Sanyo Electric Co. (OTC: SANYY), facing tough market conditions around the globe, agreed Friday to sell itself to rival Panasonic Corp. (PC).
“Japan’s economy has never weaned itself off of the overbearing reliance on exports, and especially to the U.S.,” said Kirby Daley, senior strategist and head of capital introductions at Newedge Group. “Japan did nothing to prepare itself” for the collapse in demand from abroad, he told Bloomberg News.
Like the U.S. Federal Reserve, The Bank of Japan has been hacking away at interest rates in an attempt to stanch the economic bleeding. Japan’s central bank lowered rates to 0.1% on Friday. But the rate cuts haven’t been enough to kickstart the Japanese economy, as the yen has remained stubbornly strong.
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Toyota Trails Political Clout
Mike Bartley asked:
The Toyota Motor Corp., the second largest automaker around the globe, is planning to build a plant in Mississippi. Experts in the industry say that the move of the automaker is aimed at expanding its operations in the United States at the same time increasing political influence in the territory.
As the presence increases, Toyota tunes in. The Japanese automaker is expected to use the clout to rival the Detroit’s automakers on some issues. Toyota could also use the increased Capitol Hill lobbying power to give it a boost in its competitive lead over the General Motors Corp., the Ford Motor Co. and the DaimlerChrysler AG.
“We don’t agree with them on everything,” said Josephine Cooper, the vice president of government relations for Toyota Motor North America. “But our goal is to work together because it’s usually better to be on the same page.” Cooper spearheads an in-house lobbying office of seven people in Washington. The Japanese automaker also has hired some of the city’s leading lobbying firms to aid in the realization of goals.
Toyota has built plants in Kentucky and Indiana. These plants integrate quality auto parts and accessories like the Toyota hawk brakes to its powerful lineup. The automaker is narrowing the gap with domestic car manufacturers in regard to spending on lobbying.
In 2004, Toyota spent approximately $2.4 million on lobbying. In 2005, its lobbying investment increased to $3.4 million, and last year it rose to $4.6 million. In 2006, GM spent $8.7 million and Ford spent $9.1 million to influence policy and legislation in Washington.
For the first time, the Japanese automaker also is considering the creation of a political action committee. Last year, GM’s PAC spent over $1 million and Ford’s spent over $845,000 to influence lawmakers in Washington.
One strong factor behind Toyota’s quest of greater political clout may be the possibility that the Big Three, staggered by slumping sales, will ask Congress for subsidies or a bailout, said Joan Claybrook, the president of the Public Citizen watchdog group in Washington. She also said that Toyota’s growing presence in the United States forces it to become more involved in politics. “They just realize they need to be more tuned in,” Claybrook said.
Toyota’s Georgetown, Kentucky plant is responsible for the assembly of the Toyota Camry sedan, including the new hybrid model, along with the Avalon sedan and Solara coupe. The Toyota Princeton, Ind. Plant, on the other hand, makes the Tundra pickup, Sienna minivan and Toyota Sequoia SUV.
For 2007, top issues for both the American and Japanese automakers include whether to raise mileage standards for cars and trucks. Another main issue is whether carbon emissions should be capped to combat global warming. On both issues, Toyota has the edge.
Toyota agrees with U.S. automakers that the administration, not Congress, should determine fuel economy standards. But the Japanese automaker has embraced President Bush’s proposal last year to change how fuel economy is determined while U.S. automakers strongly refuted it.
Toyota also is better positioned than Detroit automakers to deal with possible moves in Congress to tighten regulation of carbon dioxide emissions, with use of hybrid fuel technology in some models. “There’s a huge gap between the cleanest and dirtiest automakers,” said Don MacKenzie, the author of the Union of Concerned Scientists report. “Toyota’s ranking shows that size is no excuse for a dirty fleet.”
Kansieo.com
The Toyota Motor Corp., the second largest automaker around the globe, is planning to build a plant in Mississippi. Experts in the industry say that the move of the automaker is aimed at expanding its operations in the United States at the same time increasing political influence in the territory.
As the presence increases, Toyota tunes in. The Japanese automaker is expected to use the clout to rival the Detroit’s automakers on some issues. Toyota could also use the increased Capitol Hill lobbying power to give it a boost in its competitive lead over the General Motors Corp., the Ford Motor Co. and the DaimlerChrysler AG.
“We don’t agree with them on everything,” said Josephine Cooper, the vice president of government relations for Toyota Motor North America. “But our goal is to work together because it’s usually better to be on the same page.” Cooper spearheads an in-house lobbying office of seven people in Washington. The Japanese automaker also has hired some of the city’s leading lobbying firms to aid in the realization of goals.
Toyota has built plants in Kentucky and Indiana. These plants integrate quality auto parts and accessories like the Toyota hawk brakes to its powerful lineup. The automaker is narrowing the gap with domestic car manufacturers in regard to spending on lobbying.
In 2004, Toyota spent approximately $2.4 million on lobbying. In 2005, its lobbying investment increased to $3.4 million, and last year it rose to $4.6 million. In 2006, GM spent $8.7 million and Ford spent $9.1 million to influence policy and legislation in Washington.
For the first time, the Japanese automaker also is considering the creation of a political action committee. Last year, GM’s PAC spent over $1 million and Ford’s spent over $845,000 to influence lawmakers in Washington.
One strong factor behind Toyota’s quest of greater political clout may be the possibility that the Big Three, staggered by slumping sales, will ask Congress for subsidies or a bailout, said Joan Claybrook, the president of the Public Citizen watchdog group in Washington. She also said that Toyota’s growing presence in the United States forces it to become more involved in politics. “They just realize they need to be more tuned in,” Claybrook said.
Toyota’s Georgetown, Kentucky plant is responsible for the assembly of the Toyota Camry sedan, including the new hybrid model, along with the Avalon sedan and Solara coupe. The Toyota Princeton, Ind. Plant, on the other hand, makes the Tundra pickup, Sienna minivan and Toyota Sequoia SUV.
For 2007, top issues for both the American and Japanese automakers include whether to raise mileage standards for cars and trucks. Another main issue is whether carbon emissions should be capped to combat global warming. On both issues, Toyota has the edge.
Toyota agrees with U.S. automakers that the administration, not Congress, should determine fuel economy standards. But the Japanese automaker has embraced President Bush’s proposal last year to change how fuel economy is determined while U.S. automakers strongly refuted it.
Toyota also is better positioned than Detroit automakers to deal with possible moves in Congress to tighten regulation of carbon dioxide emissions, with use of hybrid fuel technology in some models. “There’s a huge gap between the cleanest and dirtiest automakers,” said Don MacKenzie, the author of the Union of Concerned Scientists report. “Toyota’s ranking shows that size is no excuse for a dirty fleet.”
Kansieo.com
Number of Toyota Pre-prod Vehicles Goes Up
Tom Bailey asked:
To ensure the highest quality of Toyota Corollas, the Toyota Motor Corporation is now going to double the number of units for this vehicle model. The newest Toyota Corolla would be sent out for sale in Japan in the upcoming autumn season. And the officials from Toyota were the ones who announced such a plan for the Toyota Corollas. However, the Toyota officials did not disclose if they were also going to enforce such a plan for auto parts Toyota so as to also ensure quality.
From the usual 150 Toyota Corolla units in pre-production, Toyota, along with Kanto Auto Works Ltd., would be now producing some 300 Toyota Corolla prototypes. These would be the base of the company to see and check for quality. The company calls them the Toyota Corolla trial cars. This is indeed a very good move for the newest model of this line would be actually the tenth. And with the company having just recently suffered from vehicle and car problems, being safe with the newest batch of Toyota Corollas would surely do them good.
Of course, Toyota is not the only car maker that creates prototypes before they actually send these vehicles out for production. All auto manufacturers go through such moves. And these car manufacturers also do make use of computers to check any problems with the vehicle.
Toyota would surely not want to send out a batch of Toyota Corollas that hold car problems. After all, this vehicle model has been known in the automobile world as being a reliable vehicle. In fact, it has been in the market since 1966 making it 40 years old at present. Last 1997, this Toyota model held the title as the best selling nameplate all around the globe and is currently known as the best selling car through all time.
Kansieo.com
To ensure the highest quality of Toyota Corollas, the Toyota Motor Corporation is now going to double the number of units for this vehicle model. The newest Toyota Corolla would be sent out for sale in Japan in the upcoming autumn season. And the officials from Toyota were the ones who announced such a plan for the Toyota Corollas. However, the Toyota officials did not disclose if they were also going to enforce such a plan for auto parts Toyota so as to also ensure quality.
From the usual 150 Toyota Corolla units in pre-production, Toyota, along with Kanto Auto Works Ltd., would be now producing some 300 Toyota Corolla prototypes. These would be the base of the company to see and check for quality. The company calls them the Toyota Corolla trial cars. This is indeed a very good move for the newest model of this line would be actually the tenth. And with the company having just recently suffered from vehicle and car problems, being safe with the newest batch of Toyota Corollas would surely do them good.
Of course, Toyota is not the only car maker that creates prototypes before they actually send these vehicles out for production. All auto manufacturers go through such moves. And these car manufacturers also do make use of computers to check any problems with the vehicle.
Toyota would surely not want to send out a batch of Toyota Corollas that hold car problems. After all, this vehicle model has been known in the automobile world as being a reliable vehicle. In fact, it has been in the market since 1966 making it 40 years old at present. Last 1997, this Toyota model held the title as the best selling nameplate all around the globe and is currently known as the best selling car through all time.
Kansieo.com
27 Toyota Vehicles at 2006 Auto Guangzhou
Mark Clarkson asked:
The Toyota Motor Corporation primarily focuses on the manufacturing and production of their products in the automotive market. That is why Toyota remains undisputed in terms of market profitability compared to its competitors. Toyota also opened numerous regional divisions such as Toyota’s luxury car manufacturer, Lexus and Scion. And when talking about Toyota and the automotive industry, Toyota will be presenting 27 vehicles the 4th China (Guangzhou) International Auto Exhibition. The auto exhibition is currently on going at the province of Guangzhou in China, and had just started last July 24, 2006.
Toyota will be displaying a total of 27 concept vehicles along with their latest production vehicles. This number is a huge amount and actually is the largest that Toyota has ever presented for such a car exhibition. Toyota would also be joining the Guangzhou Auto Exhibition, well, since Guangzhou Toyota Motor Co. Ltd. (GMTC) had been established and started their operation last 2004. During the mentioned auto show, Toyota will present the new safety technology features of their models such as the Toyota Prius and Toyota Reiz. Safety is one of the main priorities of Toyota Motors’ production vehicles.
In addition to these, Toyota will also present a diverse selection of their all-new hybrid concept and production vehicles that include the new Toyota Tundra concept, which will come in availability early this 2007. Also included is the Fine-T concept, the modified version of rugged Toyota RAV4 and Previa, Lexus ES350, Lexus IS300, and GTMC’s new production vehicle, the new Toyota Camry. These are only a few of the 27 vehicles that will be displayed during the exhibition. Various products from Toyota and new Toyota parts like Toyota Camry parts will be also featured in the show.
Hoshibi Inaba, the Vice President of Toyota said that: “This year, we began production of the Camry with the world’s highest quality levels at a cutting-edge plant in Guangzhou, and it has thus far been extremely well received by customers. Toyota hopes to make contributions, modest though they may be, to the balanced development of an automobile society in China through the provision of various products as well as through environmental and safety initiatives.”
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The Toyota Motor Corporation primarily focuses on the manufacturing and production of their products in the automotive market. That is why Toyota remains undisputed in terms of market profitability compared to its competitors. Toyota also opened numerous regional divisions such as Toyota’s luxury car manufacturer, Lexus and Scion. And when talking about Toyota and the automotive industry, Toyota will be presenting 27 vehicles the 4th China (Guangzhou) International Auto Exhibition. The auto exhibition is currently on going at the province of Guangzhou in China, and had just started last July 24, 2006.
Toyota will be displaying a total of 27 concept vehicles along with their latest production vehicles. This number is a huge amount and actually is the largest that Toyota has ever presented for such a car exhibition. Toyota would also be joining the Guangzhou Auto Exhibition, well, since Guangzhou Toyota Motor Co. Ltd. (GMTC) had been established and started their operation last 2004. During the mentioned auto show, Toyota will present the new safety technology features of their models such as the Toyota Prius and Toyota Reiz. Safety is one of the main priorities of Toyota Motors’ production vehicles.
In addition to these, Toyota will also present a diverse selection of their all-new hybrid concept and production vehicles that include the new Toyota Tundra concept, which will come in availability early this 2007. Also included is the Fine-T concept, the modified version of rugged Toyota RAV4 and Previa, Lexus ES350, Lexus IS300, and GTMC’s new production vehicle, the new Toyota Camry. These are only a few of the 27 vehicles that will be displayed during the exhibition. Various products from Toyota and new Toyota parts like Toyota Camry parts will be also featured in the show.
Hoshibi Inaba, the Vice President of Toyota said that: “This year, we began production of the Camry with the world’s highest quality levels at a cutting-edge plant in Guangzhou, and it has thus far been extremely well received by customers. Toyota hopes to make contributions, modest though they may be, to the balanced development of an automobile society in China through the provision of various products as well as through environmental and safety initiatives.”
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Toyota to Slash 2009 Sales Outlook, Cut Costs
Money Morning asked:
Toyota Motor Corp. (ADR:TM) may not need a government bailout, but it’s hurting badly.
The world’s top automaker said it will announce a revised 2009 sales forecast at its end-of-the-year news conference Dec. 22. The company is expected to slash at least 1 million cars from its original forecast of 9.7 million units, Reuters reported.
It’s also expected to outline cost cutting measures that could include laying off employees, suspending plant operations, delaying the opening of new plants, and cutting the budget for research and development.
According to several Japanese media outlets, Toyota plans to eliminate bonuses for its executives and is expected to post a second-half loss.
One analyst believes the company’s dividend also could be on the chopping block.
“We anticipate that even Toyota could see its post-dividend cash flow turn negative should it keep its dividends at 140 yen,” Morgan Stanley (MS) analyst Noriaki Hirakata wrote in a report. “Thus, in this perfect storm, we expect the firm to cut its dividend to 100 yen per share for this business year.”
That’s a gigantic step backwards from last year, when Toyota took the crown from General Motors Corp. (GM) as world’s largest automaker by selling 9.37 million cars worldwide.
But like all automakers – and nearly every major industry – Toyota has been crippled by a worldwide dearth in demand, brought on by a whirlwind of job losses, devalued property, lack of credit and falling stock markets.
From January to October this year, Toyota sold 7.74 million vehicles. And during its fiscal first half – six months ended September 30 – net revenues fell 6.3% compared to the same period last year.
Year-to-date, Toyota’s New York-listed ADR shares have fallen about 38%, still much better than GM and Ford Motor Co.’s (F) respective stock declines of 83% and 53%. But recently, Toyota’s ADR shares have been moving forward in hopes that the U.S. government will bailout Detroit’s Big Three – GM, Ford and Chrysler LLC – because that would shore up the auto industry’s underpinnings: Dealerships and parts and supply manufacturers.
The United States is also the largest market for most foreign automakers. Allowing one or all of the Big Three to go under would add millions to the running unemployment numbers and deepen the recession, making the U.S. market less likely to buy their cars.
News and Related Story Links:
Reuters:
Toyota to cut sales goal and outline cost cuts
Money Morning:
Auto Bailout Awaits Congressional Approval with Millions of Jobs at Stake
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The International Monetary Fund is about to pump $100 billion into a few select countries. This “no strings attached” bailout is creating three 100%+ gainers in the coming days – if you know how to play it. Get all the details in this report: The Trigger Event Strategy: The Only Proven Way to Make Money in an Insane Market. Just go here…
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Toyota Motor Corp. (ADR:TM) may not need a government bailout, but it’s hurting badly.
The world’s top automaker said it will announce a revised 2009 sales forecast at its end-of-the-year news conference Dec. 22. The company is expected to slash at least 1 million cars from its original forecast of 9.7 million units, Reuters reported.
It’s also expected to outline cost cutting measures that could include laying off employees, suspending plant operations, delaying the opening of new plants, and cutting the budget for research and development.
According to several Japanese media outlets, Toyota plans to eliminate bonuses for its executives and is expected to post a second-half loss.
One analyst believes the company’s dividend also could be on the chopping block.
“We anticipate that even Toyota could see its post-dividend cash flow turn negative should it keep its dividends at 140 yen,” Morgan Stanley (MS) analyst Noriaki Hirakata wrote in a report. “Thus, in this perfect storm, we expect the firm to cut its dividend to 100 yen per share for this business year.”
That’s a gigantic step backwards from last year, when Toyota took the crown from General Motors Corp. (GM) as world’s largest automaker by selling 9.37 million cars worldwide.
But like all automakers – and nearly every major industry – Toyota has been crippled by a worldwide dearth in demand, brought on by a whirlwind of job losses, devalued property, lack of credit and falling stock markets.
From January to October this year, Toyota sold 7.74 million vehicles. And during its fiscal first half – six months ended September 30 – net revenues fell 6.3% compared to the same period last year.
Year-to-date, Toyota’s New York-listed ADR shares have fallen about 38%, still much better than GM and Ford Motor Co.’s (F) respective stock declines of 83% and 53%. But recently, Toyota’s ADR shares have been moving forward in hopes that the U.S. government will bailout Detroit’s Big Three – GM, Ford and Chrysler LLC – because that would shore up the auto industry’s underpinnings: Dealerships and parts and supply manufacturers.
The United States is also the largest market for most foreign automakers. Allowing one or all of the Big Three to go under would add millions to the running unemployment numbers and deepen the recession, making the U.S. market less likely to buy their cars.
News and Related Story Links:
Reuters:
Toyota to cut sales goal and outline cost cuts
Money Morning:
Auto Bailout Awaits Congressional Approval with Millions of Jobs at Stake
ShareThis
More on this topic (What’s this?)
Are US automakers doomed? (Intelligent Speculator, 12/15/08)
European Automakers Dispute Assumptions of ‘Let GM/Chrysler Go Bankrupt” Case (naked capitalism, 12/15/08)
Unsold Goods Piling Up at Long Beach (naked capitalism, 11/18/08)
Vote on Auto Bailout Sure to Spark Debate (The Razor’s Edge, 12/10/08)
Read more on Toyota Motor, Auto Makers at Wikinvest
IMF Quietly Creating Three 100%+ Winners
The International Monetary Fund is about to pump $100 billion into a few select countries. This “no strings attached” bailout is creating three 100%+ gainers in the coming days – if you know how to play it. Get all the details in this report: The Trigger Event Strategy: The Only Proven Way to Make Money in an Insane Market. Just go here…
Investing News
Caffeinated Content