2014 Bank of America New York Auto Summit – Bob Carter

April 16, 2014 by · Leave a Comment 

Toyota Motor Sales, U.S.A., Inc., Senior Vice President of Automotive Operations Bob Carter speaks at the

Toyota Announces Recall of Certain Yaris and Scion xD Vehicles

April 15, 2014 by · Leave a Comment 

TORRANCE, Calif., April 9, 2014 – Toyota Motor Sales, U.S.A., Inc. today announced that it will conduct a safety recall involving approximately 472,500 vehicles consisting of certain Model Year 2006-2010 Yaris Hatchback vehicles (approximately 158,000); certain Model Year 2007-2010 Yaris Sedan vehicles (approximately 250,500); and certain Model Year 2008-2010 Scion xD vehicles (approximately 64,000).

Paving the Road to Zero Waste at Toyota’s Indiana Plant

April 13, 2014 by · Leave a Comment 

How do you turn manufacturing sludge into a sustainable building material? Toyota Motor Manufacturing, Indiana (TMMI) offers a “concrete” example.

Vote to unionize Toyota Canada plant faces delay

Vote to unionize Toyota Canada plant faces delay

April 5, 2014 by · Leave a Comment 

Filed under: Toyota , UAW/Unions , Canada Volkswagen isn’t the only automaker with high-profile unionization efforts afoot at one of its North American factories. Unifor, Canada’s largest private-sector union, is attempting to organize Toyota’s factories in Ontario, reports Reuters . A vote was originally set for next week, but Unifor has apparently found more workers eligible to vote, delaying the proceedings. It hasn’t rescheduled the ballot yet, but claims there are 7,500 employees with the right to vote, with over 3,000 having already signed union cards. Toyota is pushing against organizing, saying that workers already have a payment and benefits near the top of the industry, and noting that it has never laid off a permanent employee in Canada. Unifor has reportedly countered by saying that about a quarter of the workforce is operating under a temporary contract, which receives lower benefits. The automaker has three factories in Ontario – two in Cambridge and one in Woodstock. To form a union, a majority of eligible employees must vote to join Unifor. If successful, they would be the first wholly owned Toyota plants in North America to be organized. Previous attempts to unionize the Japanese automaker’s Canadian factories in 2001 and 2008 failed due to lack of support.

Toyota plans biggest stock buyback in over a decade

Toyota plans biggest stock buyback in over a decade

April 1, 2014 by · Leave a Comment 

Filed under: Toyota , Earnings/Financials At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit – said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It’s the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares. Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation’s initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders. Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.

Increased Showroom Activity Points to Strong March Sales for Toyota

March 29, 2014 by · Leave a Comment 

TORRANCE, Calif. (March 25, 2014)

Toyota Announces Voluntary Safety Recall

March 28, 2014 by · Leave a Comment 

TORRANCE, Calif., March 27, 2014 – Toyota Motor Sales, U.S.A., Inc. today announced that it will conduct a voluntary safety recall of approximately 119,000 MY 2003-2004 Avalon sedans.

Toyota reaches $1.2B unintended acceleration settlement in criminal probe

Toyota reaches $1.2B unintended acceleration settlement in criminal probe

March 20, 2014 by · Leave a Comment 

Filed under: Government/Legal , Recalls , Safety , Toyota , Earnings/Financials UPDATE: Just like that, Toyota has released an official statement confirming its $1.2-billion dollar settlement with the US Attorney’s Office. Our story has been updated to reflect this development and the automaker’s official statement has been added below . Toyota has reached a settlement over the criminal probe into its unintended acceleration problems, and the outcome is more expensive than first expected. The Japanese automaker has agreed to pay $1.2 billion to close the investigation among other settlement terms. The criminal inquiry focused on whether the company kept information from regulators and how it handled drivers’ complaints about the problems, according to the sources. Between 2009 and 2010, Toyota ended up recalling over 10 million vehicles worldwide over sudden acceleration fears. Fixes include modifying floor mats, gas pedals, and installing brake override software on affected models. In addition, Toyota made the latter standard on all of its new vehicles. The first rumblings of a settlement broke last month when “people familiar with the matter” revealed a possible billion-dollar agreement . That rumor suggested that the deal would also include criminal deferred prosecution arrangement that would force Toyota to accept responsibility but let it avoid federal criminal convictions.

Toyota to Fund Film with Kentucky Commission on Women

March 19, 2014 by · Leave a Comment 

FRANKFORT, Ky. – (March 18, 2014) – Kentucky’s place in the history books is often held by men: Abraham Lincoln, Daniel Boone, Henry Clay and Muhammad Ali, to name a few.

Toyota raises Japanese base wages for first time since 2008

Toyota raises Japanese base wages for first time since 2008

March 14, 2014 by · Leave a Comment 

Filed under: Japan , Plants/Manufacturing , Toyota , Earnings/Financials Toyota is on track for record profits, and in return, its Japanese workers are receiving their first increase in base wages since 2008, plus higher pay based on seniority and a larger bonus for 2014. The Japanese automaker predicts the average laborer will net a 2.9 percent income gain. The average Toyota employee will earn 2,700 yen ($26.28) more each month, a 0.8 percent increase from last year. Workers will also receive about 7,300 yen ($71.09) more monthly based on seniority and promotions. Finally, the company’s union pushed through a median bonus of 2.44 million yen ($23,768) for 2014, the highest in 6 years. The pay boost comes as Toyota forecasts a record 1.9-trillion yen ($18.5 billion) profit for the fiscal year ending on March 31, according to Bloomberg . It has been helped by the Japanese government’s efforts to weaken the yen on international markets and expand inflation. Prime Minister Shinzo Abe has been asking businesses to increase compensation to end years of deflation and offset upcoming higher sales taxes. Honda and Nissan have also raised their wages there in recent months. Toyota raises Japanese base wages for first time since 2008 originally appeared on Autoblog on Fri, 14 Mar 2014 11:29:00 EST.

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