Filed under: Japan , Toyota , Earnings/Financials Automotive News reports Toyota saw a sizable jump in third-quarter North American sales and has adjusted its global forecast accordingly. All told, the Japanese automaker sold 598,000 units in North America during the last quarter, marking an increase of 45 percent over the same time period last year. As a result, operating profit in the region also increased to $807.1 million, though Toyota also credits much of that figure to additional output. The company stepped up North American production by 42 percent in the third quarter. Last year at this time, the automaker was still reeling from the earthquake and tsunami disasters that struck Japan that March, and with its supply lines crippled, Toyota was forced to cut back production. Like other Japanese automakers, Toyota has seen its sales in China plummet. Sales in the region fell off by some 49 percent in September compared to the same month a year prior due to anti-Japanese protests in the country. Toyota sales surge by 45% in Q3, global forecast raised originally appeared on Autoblog on Mon, 05 Nov 2012 13:59:00 EST. Please see our terms for use of feeds . Permalink
Filed under: China , Japan , Honda , Nissan , Toyota , Earnings/Financials Automotive News reports Japanese manufacturers are set to cut production in China by half. Toyota , Nissan and Honda have seen sales fall off by steep margins in the People’s Republic after a territorial dispute between Japan and China resulted in anti-Japanese protests. Sales of Japanese goods have declined amid calls for boycotts all over China. As a result, Nissan is currently planning to halt the night shift at its two Chinese facilities. Toyota and Honda, meanwhile, will reduce production by cutting back work hours and slowing production lines. The news comes courtesy of a report in the Nikkei newspaper, but has not been confirmed by the manufacturers themselves. There’s no indication as to how long the cut in production will last. As Automotive News points out, Japanese manufacturers were already scaling back production to meet demand before the protests broke out. The Chinese economy is currently in its slowest period of growth in the past three years. Even so, the shift away from Japanese vehicles has seen Hyundai sales jump by 15 percent last month.
Filed under: China , Japan , Buick , Cadillac , Chevrolet , GM , Honda , Nissan , Toyota , Volkswagen The unrest in China may have positive consequences for automakers like Volkswagen and General Motors , according to Automotive News . As protesters continue their streak of violence, many owners of Japanese vehicles are leaving them home for fear of damage. Protesters have vandalized Japanese businesses and those that sell Japanese goods, including car dealerships, as well personal property. Reports indicate some owners are swapping their Toyota badges for those of Chinese automaker BYD in hopes of fooling vandalism-minded mobs. Nissan , Toyota and Honda have all reported attacks on their dealerships, and China’s Passenger Car Association has predicted Japanese automakers may lose their market lead to those based in the U.S. and Germany. General Motors sold a total of 1.84 million vehicles in China under a total of three brand names, while Volkswagen moved 1.49 million units this year. By comparison, Nissan has sold just 485,000 vehicles. The protests mark the 81st anniversary of the Manchurian Incident, which saw Japanese forces invade China. General Motors and Volkswagen may benefit from anti-Japan protests in China originally appeared on Autoblog on Fri, 21 Sep 2012 11:01:00 EST.
Filed under: China , Europe , Technology , Toyota According to a report by TheDetroitBureau.com, Toyota is teaming up with Gazoo Razing (full name: Gazoo Racing Masters of N
Filed under: China , GM , Toyota , Volkswagen , India For what seemed like an eternity, the title of World’s Largest Automaker belonged to General Motors . More recently, Toyota was able to wrestle the mantle away from GM as the Japanese automaker made huge gains in GM’s home country and abroad, and Volkswagen has been nipping at the two behemoth’s heels. According to Bloomberg , though, the top three are likely to see themselves reshuffled before 2011 officially draws to a close. Volkswagen, with an estimated 2011 sales tally of around 8.1 million vehicles globally (up 13 percent over 2010), is likely to earn top billing as the largest automaker in the world. General Motors, which was in the sales lead through the first half of 2011 , ought to move around 7.55 million machines (an eight-percent increase) to hold on to second place while Toyota’s estimated 7.27 million sales (a nine-percent falloff) would only be good enough for third in the global race for sales dominance. There are a number of reasons Toyota has seen its sales flounder in 2011 – most notably the disastrous earthquake and tsunami in the first quarter of the year that halted production of many of its popular models, but also due in part to lingering aftereffects of its recall-ridden history over the past few years. Company CEO Akio Toyoda has vowed to address all of these concerns. Analysts are split on predictions for 2012, with some suggesting VW will have enough momentum to hang on to its number one spot and others believing Toyota will rebound to reclaim first place in global sales. Success in emerging markets like China and India will likely be the deciding factor in sales supremacy, both in 2012 and in the years to follow. VW to pass Toyota as biggest global automaker this year?