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NEWS ABOUT: Toyota

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More Big Auto Sales Drops: GM Off 45%, Ford 41%

(Newser) - Automakers got hammered again last month, with Detroit’s Big Three all reporting big sales drops today. Ford’s light-vehicle numbers were down 41%, the AP reports; General Motors’ fell 44.7% and Chrysler’s 39.3%, the Wall Street Journal adds. Foreign manufacturers weren’t immune, either, with Toyota’... More »

Price War Heats Up Hybrid Market

Toyota and Honda square off with dueling technologies, too

(Newser) - Toyota and Honda have begun waging battle in the hybrid market, and a price war is bound to speed conversion by consumers—the Prius is expected to dip below $21,000 in order to compete with the $19,000 Insight in Japan. But the two aren't just versions of the... More »

US Cars Catch Foreign Makers in Dependability

(Newser) - Buick and Jaguar are the most dependable all-around car brands this year, the Detroit News reports. A study by JD Power and Associates looked at the average number of problems that crop up in 2006 models to make its estimation, which could be more influential as the recession has drivers... More »

Honda Hops on Bailout Bandwagon

Japanese automaker to seek government loans to pay for customer loans

(Newser) - With American credit markets dried up, Honda is seeking money from the Japanese government to help finance auto loans in the US, reports the Wall Street Journal. The Japanese government is planning to offer $5 billion through a semi-governmental organization, and Toyota is planning to seek funds as well. More »

Toyota Asks Japan for a Bailout

(Newser) - Toyota is reportedly seeking $2 billion in loans from Japan’s government, after forecasting its first loss in 59 years, Bloomberg reports. A Toyota Financial Services spokesman confirmed that the automaker is in talks with a state-owned bank, but wouldn’t specify a figure. The carmaker expects to report a... More »

Toyota's Losses Will Triple

First loss in seven decades multiplies as market deteriorates

(Newser) - Toyota now expects its full-year operating loss to be three times larger than the $1.6 billion it forecast in December, the New York Times reports. The company expects to lose $5 billion for the fiscal year through March 31 as world automobile demand deteriorates. Toyota, which last year overtook... More »

Auto Sales Off Again: GM 49%, Ford 40%, Toyota 32%

Double-digit US losses expected to continue

(AP) - Three automakers said today their US light-vehicle sales plummeted again in January: General Motors fell 49%, Ford 40% and Toyota 32%. It’s an abysmal start to 2009 for the industry as sales to fleet buyers like rental car companies weighed down the results. Chrysler and other automakers also are... More »

Toyota Recalls 1.3M Cars Over Seatbelt Issue

Flawed Yaris seatbelt could cause fire in crashes, maker says

(Newser) - About 1.3 million Toyota Yaris models are being recalled for repairs after a seatbelt defect was discovered that, during a severe frontal collision, can cause a pad inside the vehicle to ignite, the Car Connection reports. Some 134,900 US models, from 2006 and ’07, are affected; the... More »

Financials Kick Dow Up 279

Stocks rebound after dismal Inauguration Day

(Newser) - A rebound in the financial sector today and qualified confidence in President Obama’s stimulus plan drove stocks to recover some of yesterday’s large losses, MarketWatch reports. The Dow gained 279.01 to close at 8,228.10. The Nasdaq added 66.21, closing at 1,507.07, and... More »

After 77 Years, GM Cedes Sales Crown to Toyota

Both automakers post drops, but Japanese firm sells more worldwide than US giant

(Newser) - General Motors’ 77-year reign as the world’s top-selling automaker ended in 2008, the Detroit Free Press reports, overtaken at last by Toyota. The troubled US giant announced today its sales dropped 11% for the year, to 8.35 million vehicles; Toyota, despite a 4% dip, sold 8.97 million... More »

Fiat to Take 35% Stake in Chrysler, Enter US Market

No-cash deal offers platform sharing and markets to Fiat, a lifeline to Chrysler

(Newser) - Fiat arranged a no-cash deal with Chrysler today that could put the Italian automaker behind the wheel of Chrysler’s operations, the Wall Street Journal reports. Fiat will take a 35% stake in Chrysler with an option for 20% more. Fiat will receive a foothold in the US market, retooling... More »

Plush New Prius Will Hit 50mpg

As hybrid market goes mainstream, so does iconic car

(AP) - Toyota's sleeker, more fuel-efficient update to its iconic Prius, already the most fuel-efficient vehicle on the market, offers a city-highway average of 50mpg—up from 46—and a bunch of new amenities. Unveiled at the Detroit Auto Show, the 2010 model comes with a more powerful engine, a moonroof, and... More »

In Rare Move, Toyota to Suspend Production in Japan

11-day break amid shrinking demand is first since 1993

(AP) - Toyota is suspending production at all 12 of its Japanese plants for 11 days over February and March, a stoppage of unprecedented scale for the nation's top automaker as it grapples with shrinking global demand. The last time it halted production at all its Japanese plants was in August 1993,... More »

Auto Sales Take a Drubbing in December

Chrysler off 53%; GM, Ford, Toyota, Honda all down more than 30%

(Newser) - Chrysler's sales were off 53% in December compared to the same time last year, the Wall Street Journal reports today, with Ford's off 32% and General Motors down 31%, further indicating a steep decline in US demand for cars. Foreign makers took an even harder hit last month: A 35%... More »

Toyota Working on Mass-Market Solar Car

Company believed to be trying to build first mass-market car running soley on sunshine

(Newser) - Toyota is trying to leapfrog rivals by developing a mass-market solar-powered car on the sly. The futuristic vehicle will get power from solar cells in the rooftop, providing enough energy to power only its accessories initially, reports Hybrid Cars News. The company is thought to be years away from creating... More »

Ford to Offer Self-Park Cars; Kerkorian Sells Stake

New Lincoln MKS models will park themselves in effort to woo car buyers

(Newser) - Ford plans to offer two models with a self-parking function at the Detroit auto show next month, the Wall Street Journal reports, in the continuing effort to woo buyers with new technology. But  the company's image among investors remains tarnished, as billionaire Kirk Kerkorian confirmed yesterday that he sold his... More »

Dow Sheds 59 on Ugly Reports

Indices decline on bad news from Toyota, Walgreens

(Newser) - Stocks fell today after Toyota warned of looming losses and Walgreen announced a reduction in profit, MarketWatch reports. Amid light trading volume, the Dow dropped 59.42 to close at 8,519.69, the Nasdaq fell 31.97, closing at 1,532.35, and the S&P 500 shed 16.... More »

Stocks Begin Holiday Week Mixed

Fed cuts, auto loan offer boost

(Newser) - Stocks opened mixed today after China cut interest rates and Toyota predicted its first loss in 71 years, the Wall Street Journal reports. Toyota’s US shares dropped 3% after its bleak forecast, and General Motors (16%) and Ford (7%) both fell. The Dow ticked up after the bell but... More »

Mighty Toyota Posts Its First Loss Ever

Even Prius can't overcome flagging demand, soaring yen

(Newser) - Toyota will post a loss for the first time in its history, the victim of plummeting sales and multi-year highs in the value of the yen, the company warned today. The Japanese automaker, which has enjoyed a reputation for profits even in bad times, announced that it would suspend executive... More »

Why Asian Automakers Don't Want Detroit to Fail

Big Three bankruptcy would disrupt supply chain, further sour US economy

(Newser) - As Detroit’s Big Three await word on the fate of their much-needed bailout, an unlikely group of supporters has assembled in their corner: foreign automakers. A collapse of General Motors, Ford, or Chrysler would devastate overseas manufacturers as well, CNNMoney reports, spreading bankruptcy to suppliers around the globe and... More »

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