Tesla pulling plug on Toyota RAV4 EV battery deal

Tesla pulling plug on Toyota RAV4 EV battery deal

May 13, 2014 by · Leave a Comment 

Filed under: Plants/Manufacturing , Crossover , Toyota , Earnings/Financials , Tesla , Electric The future of the Toyota RAV4 EV appears to be in doubt. Tesla supplies the EVs battery packs, and it says that production ends later this year. ” Toyota is expected to end the current RAV4 EV model this year,” Tesla said in its quarterly financial filing obtained by Bloomberg . “Our production activities under this program are expected to end in 2014,” the company said. This timeline fits closely with the original production plans for the RAV4 EV. When the $100-million project was first announced, Tesla said that it expected to supply battery packs for the vehicle from 2012 to 2014 . Building components for the Japanese automaker continues to bring in money, though. In the company’s Q1 2014 letter to shareholders , it said: “Automotive revenue included $15 million of Toyota powertrain sales.” According to Bloomberg , Toyota has sold just 1,594 RAV4 EV models from 2012 through April 2014. Initially, the business had estimated that it would sell 2,600 units of the electrified crossover . Toyota has not officially said that it plans to end production of the RAV4 EV yet.

Toyota Springs into New York International Auto Show with New Vehicles and Engaging Events

April 27, 2014 by · Leave a Comment 

NEW YORK (April 16, 2014) – This year’s New York International Auto Show, opening to the public on Saturday, April 19, brings a new crop of production vehicles and special concept cars to usher in Spring at the Javits Convention Center.

Class of 2014 Toyota Mothers of Invention Honored for Transforming Social Solutions at Fifth Annual Women in the World Summit

April 5, 2014 by · Leave a Comment 

NEW YORK (April 5, 2014)

Mayors Challenge Their Residents in Water Conservation Movement

April 5, 2014 by · Leave a Comment 

IRVINE, Calif. (April 1, 2014) — With at least 36 states facing water shortages this year – including the most severe drought California has faced in decades – water conservation has evolved into a national imperative.

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 4Runner Is Fun, Fun, Fun Because Daddy Took the Unibody Away

February 26, 2014 by · Leave a Comment 

TORRANCE, Calif., Feb. 25, 2014 –

Disney’s ‘Muppets Most Wanted’ Hitch a Ride with Toyota for a Super Bowl First

January 30, 2014 by · Leave a Comment 

TORRANCE, Calif. (Jan. 30, 2014) – The Muppets gang and Toyota will take a ride into history this year, connecting with Latinos across the country for the upcoming Toyota Highlander launch and the Muppets’ all-new big-screen adventure “Muppets Most Wanted,” in theaters March 21, 2014.

Disney’s ‘Muppets Most Wanted’ and Terry Crews Take Toyota on a Super Bowl Joyride

January 22, 2014 by · Leave a Comment 

TORRANCE, Calif. (Jan. 21, 2014) –The Muppets gang is in for a wild ride when they join forces with Toyota this year, blending Toyota’s exciting ‘Let’s Go Places’ spirit with Muppets mayhem. The collaboration celebrates the upcoming Toyota Highlander launch and the Muppets’ all-new big-screen adventure “Muppets Most Wanted,” in theaters March 21, 2014.

Volkswagen could outsell GM in China for the first time in nine years

Volkswagen could outsell GM in China for the first time in nine years

December 28, 2013 by · Leave a Comment 

Filed under: Car Buying , China , Ford , GM , Toyota , Volkswagen As of the end of November, Volkswagen had sold 70,000 more cars than General Motors in China in 2013, making it appear inevitable that VW will outsell GM there. The feat would return the German brand to the top of chart in China for the first time in nine years, but even the second-place getter won’t be complaining too loudly: both automakers sold more than three million vehicles in a market pegged to hit 16 million sales this year. Volkswagen said it could have sold more cars if it had had more production capacity in China. The arrival of a new-to-China Audi A4 , a China-built A3 sedan , the VW Bora and Skoda Octavia , as well as an $18.2-billion-euro investment in the country to construct new factories , means VW should see its numbers grow in 2014. GM’s lineup is expanding next year, too, adding four Chevrolet nameplates and two vehicles to its Baojun brand as it tries to get to five million in sales by 2015. Among other automakers, Ford benefited from good product and woes for Japanese automakers over a territorial dispute with China, outselling Toyota by almost 32,000 units through the end of November. The Ford Focus is China’s best-selling vehicle so far this year. Analysts predict that the Chinese market will grow in 2014 thanks to untapped demand in smaller cities, and that should make for more record numbers; counting buses and trucks, China should surpass the 20-million sales mark. The biggest headwind foreseen at the moment is pollution. Larger cities are already capping the number of new vehicle sales and how often people are allowed to drive, as the effects of industrialization obscure entire cities and long-term forecasts.

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