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Toyota plans biggest stock buyback in over a decade

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.

Recharge Wrap-up: Ford Fusion and Toyota Highlander named Best Hybrids for Families; Funky Prius motorhome

Tesla Model S customers in China will receive a "Universal Mobile Charger" with their vehicle. The charger will allow drivers to charge their Tesla anywhere, without having to search out a Supercharger when out in the wild. It allows Model S drivers a bit more freedom and helps alleviate worries about traveling too far from home. It could also help sway potential customers who suffer from range anxiety. The charger will be free to new and existing customers when it becomes available this summer. Read more at Car News China. US News & World Reports' list of Best Cars for Families includes two hybrids. The 2015 Ford Fusion Hybrid was chosen as the Best Hybrid Car for Families, while the 2015 Toyota Highlander Hybrid was picked as the Best Hybrid SUV for Families. The Fusion hybrid was chosen for its roomy, comfortable cabin, as well as the MyKey system's features for new drivers. The Highlander Hybrid offers eight seats - good for carpooling - as well as good mileage and a quality infotainment system. Read more at US News & World Reports or at Hybrid Cars. Audi plans to give its electric vehicles looks that differentiate them from the rest of the lineup. "In early 2018, we will launch a battery-powered sports activity vehicle in the large premium segment with a range of more than 500 kilometers," says Audi's head of development, Ulrich Hackenberg. "It will have a new, very attractive design, which we are developing especially for the E-Tron range and for battery-electric vehicles." According to analysts, part of the reason the Toyota Prius was so successful was because it was easy to distinguish from other Toyota models with conventional powertrains. Read more at Automotive News Europe. An Australian man turned his Toyota Prius into a miniature motorhome. James Lawler used mostly scraps to build the tiny house – complete with tin roof, chimney, and stained glass window – for just $150 Australian. It took him about a week to finish. Lawler made use of his creation at the Meredith Music Festival so he didn't have to sleep in a tent. He was, however, fined by police for driving the makeshift motorhome. See pictures and read more at the Herald Sun.

Toyota Hilux gets heart transplant from Lexus IS F

The Toyota Hilux might not be sold in the US, but Toyota's venerable pickup has an international reputation of being able to go anywhere and do just about anything. The trucks aren't really known for their speed, though, at least until Toyota South Africa Motorsport's new, one-off project. This bruiser ditches the usual diesel engine and replaces it with an unrestricted 5.0-liter V8 from a Lexus IS F making 449 horsepower. Of course, it takes more than power to handle the rigors of high speed off-roading. The motorsport team also adds bigger, competition-spec brakes, fully adjustable dampers, new springs, and retuned gearing to make the truck look practically ready for the Dakar Rally. The gearbox is really the only part that carries over. The V8 gives the special Hilux quite a mean growl, too. With the new Tacoma just launching in the US, maybe the engineers at TRD need to apply this same concept over here for its own Lexus-engined, one-off pickup.