Detroit Bureau on Twitter

Posts Tagged ‘Akio Toyoda’

Toyota Earnings Soar on Global Sales Surge

Automaker lifts full-year forecast.

by Paul A. Eisenstein on Nov.06, 2018

Strong demand for Lexus, especially in the Chinese market, helped Toyota deliver strong earnings.

Toyota Motor Corp. reported a 28% increase in its net profit for the July-September quarter, earnings buoyed by strong demand in key global markets, including the Americas, Asia and Europe.

The Japanese giant also advised that it expects to see earnings push past earlier forecasts for the full year, in part driven by unexpectedly strong demand in China. Sales of the Lexus brand, have been booming there, despite a slowdown in the overall Chinese market.

Business News!

Sales gains were only one of the factors that propped up Toyota’s bottom line, said Senior Managing Masayoshi Shirayanagi. Referring to aggressive cost-cutting efforts, he said, “We are steadily making progress toward achieving our challenge-level target.”

(more…)

Toyota Earnings Jump, Despite Rising U.S. Incentives

Record R&D spending could hurt operating profit.

by Paul A. Eisenstein on May.09, 2018

Toyota CEO Akio Toyoda is not only pushing for automotive sales growth, but leading the company into the emerging mobility sector.

Toyota saw earnings jump 21% between January and March, the final quarter of its fiscal year, despite having to sharply ramp up incentives in a slowing U.S. automotive market.

The automaker reported a profit of 480.8 billion yen, or $4.4 billion, up from 398 billion yen the year before. Toyota’s sales also rose 2% to 7.58 trillion yen, or $69 billion. For the full fiscal year, it earned 2.49 trillion yen, or $23 billion, a 36% increase, with sales rising 6%, to 29.38 trillion yen, or $268 billion.

Beyond the Numbers!

The strong performance helped highlight the cost-cutting efforts initiated by CEO and President Akio Toyoda, the grandson of Toyota’s founder declaring, “We’ve become a leaner, trimmer company … and in the past year we’ve developed our remaining fat into muscle, so that we’re in a strong position to be more competitive.”

(more…)

Renault-Nissan-Mitsubishi Take Global Sales Lead

VW slips to second, Toyota to third.

by Paul A. Eisenstein on Jan.30, 2018

Carlos Ghosn, shown at the debut of the latest Maxima, has turned the Renault-Nissan-Mitsubishi Alliance into a global juggernaut.

The global auto industry has a new king-of-the-hill, the Renault-Nissan Alliance, which got a helping hand with the inclusion of the long-troubled Japanese automaker Mitsubishi.

Combined together, the three members of the Franco-Japanese alliance sold 10.61 million vehicles during 2017, narrowly topping Germany’s Volkswagen AG. Toyota, which had led the sales charts for much of the past decade before itself being toppled by VW last year, slipped into third.

Global Auto News!

“This evolution reflects the breadth and depth of our model range, our global market presence and the customer appeal of our vehicle technologies,” said Carlos Ghosn, the chairman and CEO of the Renault-Nissan-Mitsubishi Alliance and CEO of both Renault and Mitsubishi.

(more…)

Toyota Expects Electrified Vehicles Will Make Up Half of Its Global Sales

Automaker planning partnership with Panasonic.

by Paul A. Eisenstein on Dec.13, 2017

Toyota Pres. Akio Toyoda at the launch of the Lexus LC coupe - which is offered with a hybrid option.

Toyota Motor Co. President Akio Toyoda said Wednesday that he expects half of the company’s sales to come from electrified vehicles – including hybrids and plug-based models – by 2030.

Toyoda spoke during a news conference called to announce a partnership with Panasonic to develop new battery technology that would be used for future Toyota products. The emphasis on electrified vehicles underscores a major shift in strategy by Japan’s largest automaker which, until recently, focused on hybrids but steered clear of more advanced plug-in hybrids and pure battery-electric vehicles, or BEVs.

Global Auto News!

“The auto industry is now facing a major change of the kind that comes once in a hundred years,” said the 61-year-old grandson of Toyota’s founder.

(more…)

Toyota Set to Reveal Electrification Strategy at 2018 Detroit Auto Show

Hybrids expected to remain key, even with new EVs in the works.

by Paul A. Eisenstein on Sep.19, 2017

Akio Toyoda at the launch of the Toyota Prius V.

Toyota, the automaker credited with creating the world’s first mainstream gas-electric hybrid, plans to reveal its corporate electrification strategy at the North American International Auto Show in Detroit next January, TheDetroitBureau.com has learned.

Though it set in motion the push to battery power with the 1997 debut of the original Prius hybrid, Toyota has been slow to embrace more advanced forms of electrification, with only one plug-in model, the Prius Prime, currently in its line-up. But with governments around the world tightening emissions and mileage mandates – and even considering outright bans on the internal combustion engine, Toyota is expected to outline plans to add dozens of new hybrids, plug-ins and pure battery-electric, or BEV, models to its line-up over the next decade.

Electrifying News!

But don’t expect to see the Japanese giant abandon the time-tested internal combustion engine, Toyota Motor Corp. President Akio Toyoda cautioned during a news conference in Tokyo on Tuesday. “EVs are in focus at the moment,” he said, “but customers and the market will ultimately decide which powertrains will be successful.”

(more…)

Toyota Turns Up the Heat With New GR Line of Performance Models

Gazoo Racing takes on seven models, including Prius Prime plug-in.

by Paul A. Eisenstein on Sep.19, 2017

Toyota unveils the new GR performance line-up.

Hoping to pump a little more “passion” into the brand, Toyota is pushing for more extreme designs and, now, adding a series of new performance models.

The Japanese automaker’s Gazoo Racing unit is starting out with seven models in its new GR series, with even the Prius Prime plug-in getting a performance boost. But one model was notably absent during a Tokyo debut: the reborn Toyota Supra that is expected to make its return debut during next month’s Tokyo Motor Show.

Subscribe Now!

The debut of the new line-up comes as President Akio Toyoda continues his push to improve the “passion” quotient for both the Toyota and Lexus brands, the luxury division recently adding the new LC500 sports coupe to its line-up while also adopting a much more aggressive design for the flagship LS sedan. The Toyota brand recently adopted a much more sporty look for its top-selling Camry model.

(more…)

Toyota Pairing Up with Mazda on EV Project, $1.6b US Car Plant

Mazda to issue new shares as Toyota set to take 5% equity stake.

by Paul A. Eisenstein on Aug.04, 2017

Toyota President Akio Toyota and his Mazda counterpart Masamichi Kogai announce their alliance.

On the same day Toyota Motor Corp. announced a 6% jump in net earnings, the Japanese automaker confirmed it will take an equity stake in Mazda Motor Corp. on a venture that will lead them to jointly develop and produce electric vehicles.

Meanwhile, the two carmakers confirmed they will also set up a new, $1.6 billion assembly plant in the United States that will create up to 4,000 new jobs. Toyota already operates a broad network of factories in the U.S., but Mazda hasn’t operated a plant there since exiting a long-running joint venture with Ford Motor Co. several years ago.

Beyond the Headlines!

“The greatest fruit of our partnership with Mazda is that we have found a new partner who truly loves cars,” said Toyota President Akio Toyoda. “It has also sparked Toyota’s competitive spirit, increasing our sense of not wanting to be bested by Mazda.”

(more…)

Toyota RAV4 SUV Outsells Camry Sedan

Maker facing tough task of getting buyers what they want.

by Michael Strong on May.18, 2017

The Toyota RAV4 outsold the best-selling sedan in the U.S. last month: the Toyota Camry.

The shift in consumer preferences from cars, specifically sedans, to trucks and utility vehicles has been an ongoing story for years, although it’s been at the fore since precipitous drop in gas prices a few years back.

Trucks and utes are outselling cars at a rate approaching 60/40 after crossing the 50/50 mark a few years back. Now, automakers are trying to figure out how to handle the growth of ute sales that are driving the new ratio.

Sales News!

In fact, so pronounced is the move that America’s best-selling car for the past 15 years, the Toyota Camry, is now being outsold by the new RAV4. In April, the Japanese automaker sold 329 more units of the little ute than the family sedan. It was the second time this year that it has happened. (more…)

Toyota’s Earnings Take 21% Tumble

But CEO says company’s cars are no longer “boring.”

by Paul A. Eisenstein on May.10, 2017

Toyota's earnings are down again, but at least its cars are less "boring," said CEO Toyoda.

For a second year in a row, Toyota saw its profits tumble, this time by nearly 21%, largely driven by the high cost of propping up demand in a slowing U.S. market.

Earnings were also hammered by unfavorable exchange rates, company officials noted during a media briefing on Wednesday, though at $16.1 billion, or 1.83 trillion yen, Toyota still managed to out-earn its biggest rivals, including General Motors and Volkswagen.

Global News!

But that wasn’t enough to satisfy CEO Akio Toyoda, especially in light of the decline Toyota experienced in the previous fiscal year ending March 31, 2016. “In the sporting world, two years of falling profit would be considered a losing streak, and I hate losing,” he told reporters and analysts.

(more…)

Toyota Earnings Slip; Company Cuts Forecast

Strong yen, production problems, sliding margins take a toll.

by Paul A. Eisenstein on Aug.04, 2016

Toyota CEO Akio Toyoda faces pressure to cut costs even as the maker invests in new products.

Snagged by a strong yen, tepid sales and supplier problems, Toyota Motor Corp. delivered a weak profit for the latest quarter, the Japanese giant also warning that the current fiscal year could be its weakest in nearly half a decade.

Toyota, whose global sales slipped behind rival Volkswagen AG for the first half of this year, said it earned $5.1 billion for the April-June quarter, the first in its new fiscal year. That was a decline of 14.5%. Operating earnings, meanwhile, were off 15%, to $5.9 billion.

/about/subscribe

By the Numbers!

Net revenues also declined 5.7%, to $60.9 billion, despite a modest 1% increase in global vehicle sales. The maker sold 2.53 million cars, trucks and crossovers for the quarter, but that number was short of expectations due to a series of natural and man-made disasters that impacted production in Toyota’s home market plants.

(more…)