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NEWS ABOUT: Toyota

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Toyota Delays US Prius Factory

A planned Mississippi plant is on hold as market for autos weakens

(Newser) - It’s not just the Big Three. Toyota has delayed indefinitely the opening of a Prius factory near Tupelo, Miss., the Wall Street Journal reports, in the wake of plummeting demand. The factory was originally intended to build the Highlander sport-utility vehicle; when gas prices hit a high last spring,... More »

Meet the GOP's Auto Bailout Busters

A union-busting, foreign-car loving crew is holding up Detroit's rescue

(Newser) - With Nissan, Toyota, Volkswagen and other foreign factories dotting the I-65 corridor stretching from Kentucky to Alabama, southern Republican senators relished this week's chance to take a swing at Detroit and the UAW simultaneously. The "bailout fell victim to a nasty confluence of home-state economic interests and anti-union sentiment,... More »

US Ports Awash in Foreign Cars

Masses of unsold imports back up in lots

(Newser) - The new car market is so flat that massive numbers of imported vehicles are being warehoused at ports and other available space, Reuters reports. Toyota, Nissan, Honda, Mitsubishi, Volkswagen, and other dealers can't take fresh deliveries because their sales lots are jammed with thousands of unsold vehicles. Demand for all... More »

GM Sales Off 41%; Toyota, Ford, Honda All Down 30%

Bad times for autos of every stripe

(AP) - General Motors' November US sales plunged 41%, while Ford's dropped 31%, dashing hopes that the industry-wide drop in vehicle demand might be easing as Detroit's automakers prepare to state their second case for a federal bailout. Their overseas rivals posted abysmal results as well. Toyota's November sales tumbled 34%, and... More »

Detroit's Pain Could Be South's Gain

The South is home to eight foreign auto plants and more are on the way

(Newser) - Is Greer, SC, the new Motor City? With execs from the Big Three getting a frosty reception to their efforts to wrest $25 billion from the federal government to stay solvent, the home of BMW’s North American operations—as well as other Southern communities that are home to foreign... More »

Foreign Automakers Could Fill Detroit Vacuum

But gov't risks big job losses if Big Three fail

(Newser) - If Detroit’s “Big Three” do collapse, foreign-owned automakers would be able to pick up the slack, industry experts tell the New York Times. These foreign giants have a big enough US presence to swiftly take over the industry and its supplier network, but the transition would likely be... More »

Saved by Zero? Or Sick to Death of It?

Toyota's relentless 0% APR ads wear thin ... and will continue

(Newser) - “Saved by zero?” Try bored. Toyota’s 0% APR ad campaign has left TV viewers annoyed—by both the jingle and the fact that it airs seemingly incessantly, AP reports. Though some might appreciate the extension of 0% financing, originally set to expire this week, most viewers are bemoaning... More »

GM Sales Off 45% as US Auto Sales Hit 25-Year Low

Asian brands add market share amid sales freefall

(Newser) - US auto sales dived in October to levels not seen since 1983, Bloomberg reports.  GM, Ford, and Chrysler saw sales drop 45%, 30%, and 36% respectively as credit dried up and consumer confidence plummeted. Toyota, Honda, and Nissan all saw sales fall over 20%, but managed to gain market... More »

Toyota Offers Interest-Free Car Loans

Japanese giant capitalizing on US automakers' woes

(Newser) - Toyota is moving aggressively to fight slowing sales with a $250-million advertising campaign that offers zero-percent financing on 11 vehicles. The Japanese auto giant is flush with billions of dollars in cash and plans to use it to boost its market share, just as Ford, GM and Chrysler are at... More »

Toyota Weighs Spinning Off Prius Brand

Larger, smaller versions of popular hybrid would fill out lineup, exec says

(Newser) - Toyota may create a separate brand for the Prius, filling it out with new larger and smaller versions of the popular hybrid, the New York Times reports. Advocating for the creation of the brand is James Lentz, president of Toyota’s US sales, who argues that Prius is already a... More »

Sales Skid Again for GM, Ford, Toyota

Detroit heavies off at least 20% each; Japanese giant down 9.4%

(Newser) - General Motors, Ford and Toyota reported dramatic declines in sales for August stemming from the weak US economy and record gas prices, Bloomberg reports. Ford's domestic sales plunged 27% and GM's 20%, and both automakers will cut second-half production by the tens of thousands. Toyota fared better, down just 9.... More »

Lexus Most Reliable, Again

(Newser) - A new study by JD Power and Associates places Lexus on top for dependability for the 14th straight year, AutoWeek reports. Filling out the rest of the top five most dependable brands, with reported problems per hundred vehicles sold:
  • 2. Mercury (151)
  • 3. Cadillac (155)
  • 4. Toyota (159)
  • 5. Acura
... More »

Used Prius Prices Soar on Surging Demand

Used cars selling even higher than new

(Newser) - Demand for Toyota's fuel-efficient hybrid Prius is so high that used models are fetching more on the open market than dealerships charge for a new one, reports Advertising Age. Buyers are in a frenzy to get their hands on a Prius immediately, but new cars are often on back order... More »

Jobs, Earnings Spur Losses

Downbeat session kicks off August

(Newser) - Stocks fell today as investors absorbed a slate of poor earnings reports and glum but not awful economic reports. Crude rose $1.02 a barrel, and shares in every sector other than energy fell, MarketWatch reports. The Dow dropped 51.70 to 11,326.32, the Nasdaq shed 14.59... More »

Honda Profits Jump 8% on Fuel-Efficient Lineup

The gas tank is half empty, as the company cuts global outlook

(Newser) - Honda announced an 8.1% gain in net profit yesterday for the quarter ending June 30, riding demand for its fuel-efficient models and beating analysts’ estimates, the Wall Street Journal reports. Honda has been hurt less by falling demand than rivals Toyota and Nissan because it's the least invested in... More »

NASCAR Fans Sneer at Toyota

Japanese automaker's success comes as American firms are in slump

(Newser) - In an effort to curry favor with millions of American NASCAR fans, Toyota joined the league’s top circuit 2 years ago, but fans aren’t warming to the Japanese automaker, the Wall Street Journal reports. Many fans felt betrayed last year when champion racer Kyle Busch traded in his... More »

Shopping in US Looks Like the 1970s: Analyst

Automotive industry, discounters predict permanent shift

(Newser) - Retailers and marketers are closely watching American shopping trends, knowing that recession habits can linger for years, the AP reports. Studies show that 63% of Americans have cut down spending by coupon-cutting, biking to work, and buying store brands. They're also buying smaller cars and shopping at discounters. "We... More »

Gas Crunch Steers Soaring Hybrid Sales

Some 62% of new car buyers look to the gas-sippers

(Newser) - Sales of hybrid cars could soar to 2 million a year by 2013 as higher gas prices and concerns about global warming spark surging interest in fuel efficient vehicles, Wired reports. Well over half—62%—of new car buyers are already considering a hybrid, according to a recent survey. Consumers... More »

Toyota to Add Solar Panels to Prius

Some 2009 models will have panels that help power air conditioning

(Newser) - Toyota plans to go even more “green” with its hybrid Prius, offering solar panels as a high-end option beginning with the 2009 model year, reports Reuters. And, although the panels will do little more than help power the air conditioning system, Toyota’s move shows just how far automakers... More »

Prius Shortage Hurts Toyota

11.5% June drop in US sales blamed on low inventory of popular small models

(Newser) - Popularity is proving quite the pickle for Toyota: Dwindling supplies of hot sellers like its hybrid Prius fueled the 11.5% drop in US sales last month, Reuters reports. With a waiting list 6 months long, Prius sales fell 26%—even as rival Honda bumped its sales 13.8% thanks... More »

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