Toyota Division Group Vice President and General Manager Bill Fay and Lexus Group Vice President and General Manager Jeff Bracken review January 2015 sales.
TMS Senior Vice President of Automotive Operations Bob Carter speaks at the 2015 J.D. Power Automotive Summit in San Francisco on Thursday, Jan. 22, 2015.
Lexus Group Vice President and General Manager
Filed under: Safety , Toyota The initiative is still very new, and there’s no set timeframe for this third-party testing to begin. With Takata’s airbag inflator recall expanding nationwide soon , the scope of this safety campaign is only growing, and is set to affect millions of additional vehicles. Toyota thinks that it can help, though. The Japanese automaker has announced an initiative to get all of the affected companies to band together to fund independent, third-party testing of the faulty components. The goal of this work is to “ensure the inflators that require replacement are accurately identified and promptly fixed,” according to Toyota. All of the data would be shared among the participating automakers to better understand the causes of these problems, which still aren’t entirely known , and come up with the best way to repair the affected vehicles. “By combining our collective efforts behind a coordinated, comprehensive testing program, we believe we can achieve greater results. Together we will be better equipped to address this issue more rapidly for all customers,” said Simon Nagata, President and CEO, Toyota Motor Engineering and Manufacturing North America, in the company’s release. According to Toyota spokesperson Cindy Knight speaking to Autoblog , the initiative is still very new, and there’s no set timeframe for this third-party testing to begin. The automaker’s first step is simply getting the word out that it’s looking for partners.
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.