Filed under: Hirings/Firings/Layoffs , Plants/Manufacturing , Toyota Toyota’s North American CEO Jim Lentz has already given us a rough idea of what prompted the company’s surprise move to the Dallas suburb of Plano, TX from its longstanding headquarters in Torrance, CA. A new story from The Los Angeles Times , though, delivers even more detail from Lentz on the reasoning for the move, what other cities were considered and why the company’s current host city wasn’t even in the running. Of course, one of the more popular reasons being bandied about includes the $40 million Texas was set to give the company for the move, as well as the state’s generous tax rates. According to Lentz, though, the reason Toyota chose Plano over a group of finalists made up of Atlanta, Charlotte and Denver, was far simpler than that – it was about consolidating its marketing, sales, engineering and production teams in a region that’s closer to the company’s seat of manufacturing in the south. “It doesn’t make sense to have oversight of manufacturing 2,000 miles away from where the cars were made,” Lentz told The Times. “Geography is the reason not to have our headquarters in California.” Geography isn’t the only reason, though. Toyota is aiming for a more harmonious coming together of its far-flung and disparate divisions, which is something that couldn’t be provided by moving everyone to Torrance. “We needed a neutral site,” Lentz said, pointing out that moving engineering employees based in Kentucky to Torrance could give the impression that “sales was taking over.” Lentz said a conversation with Global President Akio Toyoda kick started the idea of moving, as the company sought to organize its North American business “for the next 50 years.” As for why Plano won, there are a number of reasons, one of which was the area’s cost of living. According to The Times , the average house in the LA area costs $515,000 – in Dallas, it’s less than half that, at $217,500. Toyota also considered the climate, access to direct flights to Japan (Plano is served by the sprawling Dallas/Fort Worth International Airport) and the quality of the area’s schools as factors behind Plano’s victory.
Toyota Division Group Vice President and General Manager Bill Fay and Lexus Group Vice President and General Manager Jeff Bracken review April 2014 sales.
Toyota Motor Sales, U.S.A., Inc., Senior Vice President of Automotive Operations Bob Carter speaks at the
Toyota Division Group Vice President and General Manager Bill Fay and Lexus Group Vice President and General Manager Jeff Bracken review March 2014 sales.
Toyota Division Group Vice President and General Manager Bill Fay and Lexus Group Vice President and General Manager Jeff Bracken review February 2014 sales.
Toyota Division Group Vice President and General Manager Bill Fay and Lexus Group Vice President and General Manager Jeff Bracken review January 2014 sales.
CHICAGO (Feb. 6, 2014) – Toyota today announced it has begun to export U.S.- assembled
American International Automobile Dealers Association (AIADA) Annual Meeting and Luncheon – Bob Carter
Toyota Motor Sales, U.S.A., Inc., Senior Vice President of Automotive Operations Bob Carter speaks at the American International Automobile Dealers Associate (AIADA) Annual Meeting and Luncheon on Monday, January 27, 2014.
Filed under: GM , Toyota , Volkswagen , Earnings/Financials Toyota is the top-selling automaker in the world. Again. Still. With total reported sales, including those from subsidiaries, of 9.98 million in 2013, Toyota’s performance was enough to outpace rival General Motors by around 270,000 vehicles. That’s a 2.4-percent gain over 2012, and it makes Toyota the top-seller two years in a row. Still, the gap between the top three is shrinking – Toyota held a 460,000-unit lead in 2012. GM sold 9.71 million vehicles last year, a four-percent increase, coming in second place ahead of Volkswagen , which sold around 9.5 million. According to Bloomberg , Toyota CEO Akio Toyoda said his company managed to win the sales race while also remaining more profitable than GM or VW. It’s going to be another interesting year in 2014 as the three behemoth automakers vie for the title of World’s Largest. Toyota has predicted that it will increase sales in 2014 to 10.32 million – which would make Toyota the first automaker ever to surpass 10 million global sales – though General Motors and VW are expected to again fight for the lead in the massive Chinese market.
Lexus Group Vice President and General Manager Jeff Bracken reveals the all-new Lexus RC F Coupe at the