TORRANCE, Calif., Dec. 12, 2011 – Lexus will unveil a new concept vehicle at the North American International Auto Show in Detroit on January 9, 2012.
Filed under: Government/Legal , Japan , Honda , Nissan , Toyota , Earnings/Financials For years, Detroit automakers would argue that the Japanese yen was artificially devalued, and that the value of the currency was a big competitive advantage to the likes of Toyota and Honda . To erase this gap, The Detroit Three pressured suppliers to lower costs in any way possible, which caused ill-will within their supply bases. In fact, Japanese automakers routinely scored higher in supplier relation studies, while General Motors , Ford and Chrysler hovered at the bottom of the list. One massive global recession and a fast-rising yen later, it appears that the shoe is on the other foot. Automotive News reports that Toyota has made it clear to its 219 largest domestic suppliers that costs must be cut or business will be lost to countries with cheaper labor. Toyota reportedly loses $343 million in profit for every one yen the currency rises against the dollar. Given that the Japanese currency has risen by 13 versus the dollar over the past year, Toyota could be looking at a staggering $4.5 billion in losses. For perspective, that’s more than half of Toyota’s total research and development spending for any given year. Ouch. And Toyota isn’t alone in looking for ways to combat the rising yen.
Filed under: Toyota , UAW/Unions , Australia The 2011 labor negotiations between the United Auto Workers and the Detroit Three have been a relatively quiet affair so far, but the story is a bit different on the other side of the globe. Toyota and the Australian Manufacturing Workers’ Union aren’t seeing eye to eye, which has lead to a strike at facilities in Melbourne and Sydney. Well, most of the union’s rank and file are striking. Australia’s The Age reports that 400 of the 3,300 workers have crossed the picket line and returned to work building Camry and Aurion models, and union members are less than thrilled. In fact, striking workers have been less than subtle in threatening those 400 workers, issuing letters calling the line-crossers “f— scabs,” and adding “we know where you live.” The threats have not been well-received by union management, with national secretary Dave Smith issuing a statement saying that there was no place for threats and intimidation at work. Still, the line-crossing workers have to feel less than safe after receiving threats like “payback is a bitch three-fold” and “we know what car you drive.” Workers are striking for a 12 percent raise over three years. Toyota has offered an 11 percent raise over 39 months split into four installments. You can check out Toyota’s official response to the strike in a statement available after the jump . Continue reading Toyota AU workers threatened for unwillingness to strike Toyota AU workers threatened for unwillingness to strike originally appeared on Autoblog on Fri, 16 Sep 2011 10:59:00 EST. Please see our terms for use of feeds .
Filed under: Japan , Plants/Manufacturing , Toyota The Detroit News is reporting that Toyota believes its production will be back on track by November or December of this year. The automaker saw global manufacturing slow after the tragic earthquake and tsunami activity of last month, though pre-disaster levels of production may return in Japan as soon as July. Meanwhile, shipping delays will cause manufacturing at the company’s overseas plants to begin to normalize beginning in August. It will then take another two months for production to completely meet earlier targets. Currently, Toyota’s Japanese facilities are operating at around 50-percent of capacity, though as The Detroit News reports, parts shortages have caused production delays at the company’s plants in the U.S. and around the world. While Toyota says that it will continue to work with its standard parts providers, the automaker has also made it clear that it will explore substitute suppliers as it continues to push toward returning to pre-quake output levels. [Source: The Detroit News ] Report: Toyota production back to normal by end of the year originally appeared on Autoblog on Fri, 22 Apr 2011 10:59:00 EST. Please see our terms for use of feeds . Permalink