Filed under: Car Buying , Hybrid , Toyota , Electric “As Prius represents by far the biggest chunk of the hybrid marketplace, where Prius goes, the segment goes,” – Ed Kim, Autopacific Fuel prices in the US have been tumbling for the last several weeks, with the average price of a gallon of gas at $3.120 as of October 20, according to the US Energy Information Administration. That price reflects a serious recent drop from $3.299 on October 6. Reports have even suggested that those low numbers might not change for a little while , perhaps as long as years. While drivers certainly love paying less at the pump, the change may be hurting the market for more fuel-efficient models, including the Toyota Prius . According to a report from National Public Radio, sales of hybrids, plug-ins and EVs are down around 5 percent for the year , but trucks and SUVs have seen a 17 and 20 percent improvement, respectively. Autoblog Green’s By the Numbers reports indicate similar figures of around a 5.4 percent drop so far in 2014. In fact, as of September, green-car sales have endured their fourth straight month of declines . That segment of the market fell 11 percent year-over-year in August and 9.6 percent in September. “As Prius represents by far the biggest chunk of the hybrid marketplace, where Prius goes, the segment goes,” Ed Kim, Vice President of Industry Analysis at AutoPacific tells Autoblog . That paints a bleak picture for hybrids, because at the moment, the Prius is doing pretty poorly.
Toyota Division Group Vice President and General Manager Bill Fay and Lexus Vice President of Sales and Dealer Development Steve Hearne review September 2014 sales.
Washington D.C. (Oct. 2, 2014)
Filed under: Honda , Kia , Toyota , Volkswagen , Earnings/Financials While it’s arguably been around the longest, the dominance of the four-door sedan has been under threat for many years. As a further sign of the hurtin’ that SUVs and crossovers have put on today’s four-doors, a new report from Automotive News points to the increasing use of incentives by brands reliant on cars and light on CUVs and pickups. Honda , Toyota , Volkswagen and Kia have all been stung by double-digit increases in their incentives-to-transaction price ratio, according to AN, which cites data from TrueCar. Honda’s ratio is up 14 percent, while Toyota, VW and Kia are up 18, 15 and 19 percent, respectively. ” Most of the incentive growth we have seen is in product segments with low demand – midsized or large sedans ,” TrueCar President John Krafcik told AN. “As this trend goes on, the brands with three-sedan strategies are going to be in worse shape on incentive spending than the crossover brands.” Krafcik backed up his argument with this fun fact: Honda sales were up just two percent in August, compared to Jeep , whose sedan-free fleet saw sales jump 49 percent in the same period. The move towards CUVs isn’t too hard to figure out, with AN pointing out the increasingly fuel-efficient high-riders that are overtaking showrooms. That’s bad news for both sedans and the manufacturers that produce them. UPDATE: A previous version of this story listed John Krafcik as CEO of TrueCar. That is incorrect.
TMS Senior Vice President of Automotive Operations Bob Carter talks about safety technology and announces the winner of a 2015 Camry at the 2014 AARP Ideas@50+ National Event & Expo in San Diego, Sept. 6, 2014.
Filed under: Plants/Manufacturing , Crossover , Toyota Toyota has announced that it will be making a $100 million investment in its Princeton, IN factory in a bid to increase production of its popular Highlander CUV . The move will create 300 new jobs by 2016 and increase the total number of crossovers the plant can produce by 30,000. Toyota currently builds the Highlander, alongside the fullsize Sequoia , at Toyota Indiana’s West Plant. The additional capacity, though, will be sent to the East Plant, which is currently responsible for production of the recently refreshed Sienna minivan. “The Highlander has been a great product for our plant,” Toyota Indiana President Norm Bafunno said in a statement. “Establishing Highlander as the ‘bridge vehicle,’ as we call it, between the East and West plants increases our ability to meet customer needs for our outstanding products. This exciting news is a true testament to the capability of our hard-working and dedicated team members.” Take a look below for the full announcement from Toyota. Continue reading Toyota makes $100M investment to boost Indiana Highlander production Toyota makes $100M investment to boost Indiana Highlander production originally appeared on Autoblog on Mon, 25 Aug 2014 13:31:00 EST. Please see our terms for use of feeds . Permalink
Toyota Motor Sales, U.S.A., Inc., Senior Vice President of Automotive Operations Bob Carter will speak at the J.P. Morgan Auto Conference in New York on Tuesday, Aug. 12, 2014. Follow the presentation via live webcast beginning at 8:10 a.m. EDT.
Toyota Motor Sales, U.S.A., Inc., Senior Vice President of Automotive Operations Bob Carter speaks about the state of the industry as well as the company’s upcoming products at the J.P. Morgan Auto Conference in New York on Tuesday, Aug. 12, 2014.
Toyota Division Group Vice President and General Manager Bill Fay and Lexus Group Vice President and General Manager Jeff Bracken review July 2014 sales.
TMS Group Vice President and Toyota Division General Manager Bill Fay spoke at the National Council of La Raza’s Latinas Brunch, Sunday, July 20, 2014.