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.
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.
Toyota Financial Services / Lexus Financial Services Support Our Nation’s Heroes and Their Families through Enhanced Military Rebate Program
TORRANCE, Calif., June 18, 2014 – Toyota Financial Services (TFS) / Lexus Financial Services (LFS), in partnership with Toyota Motor Sales and Lexus, announces the expansion of its longstanding Military Rebate Program; offering a $500 rebate * on all new Toyota and Scion vehicles, and a $750 rebate ** on all new and Certified Pre-Owned Lexus vehicles.
TORRANCE, Calif. (June 3, 2014)
Filed under: Hybrid , Technology , Toyota , Electric Toyota is not bullish on EVs. That comes from the company’s North American CEO, Jim Lentz , who said the company will focus not on electrification, but on continued hybridization with a long-term focus on hydrogen fuel cells. Lentz questioned the long-range ability of EVs, saying that Toyota feels “there are better alternatives, such as hybrids and plug-in hybrids, and tomorrow with fuel cells.” Lentz spoke about Toyota’s focus on hydrogen following Forbes Brainstorm Green conference and barely a week after a battery deal between Tesla and Toyota ended , according to Automotive News . That deal provided for 2,500 battery packs for the Rav4 EV . While valuable to Toyota, the deal “was never about open-ended volume,” Lentz said. “It was time to either continue or stop. My personal feeling was that I would rather invest my dollars in fuel cell development than in another 2,500 EVs.” Freed of its venture with Tesla , hydrogen now appears to be in Toyota’s focus. According to AN, Toyota is starting in California, offering a $7-million loan to a company called FirstElement Fuel to develop hydrogen fueling infrastructure in the Golden State. Automotive News cites a study by Toyota that claims 68 refueling stations located across the state would provide for 10,000 HFC owners. California is already planning on having 50 stations by the end of 2016.
TORRANCE, Calif., May 22, 2014 – Toyota Motor Sales, U.S.A., Inc., today announced plans to conduct a voluntary safety recall of approximately 370,000 Model Year 2004-2011 Sienna Minivans originally sold in or registered in specific cold climate states.
TORRANCE, Calif., May 22, 2014 – Toyota Motor Sales, U.S.A., Inc., today announced that it plans to conduct a voluntary safety recall of approximately 10,500 Model Year 2013 Lexus GS 350 sedans.
TORRANCE, Calif. (May 1, 2014) – Toyota Motor Sales (TMS), U.S.A., Inc., today reported April 2014 sales results of 199,660 units, an increase of 9 percent from April 2013 on a daily selling rate (DSR). On a raw-volume basis, unadjusted for 26 selling days in April 2014 versus 25 selling days in April 2013, TMS sales increased 13.3 percent from year-ago month.
TORRANCE, Calif. (May 1, 2014)