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2015 Toyota Camry set to circle NASCAR track near you

Toyota recently introduced the all-new 2015 Camry for the street, so it follows that it should want to promote its new bread-and-butter sedan by putting it out on the racetrack as well. And that's just what it's done here with the release of the new Toyota Camry for the NASCAR Sprint Cup Series.
The new Camry represents the first reskin of the standard stock car chassis since the Gen-6 model was introduced in 2012. Toyota's Calty Design studio worked closely with series organizers to determine which parts could be redesigned to more closely resemble the new production model, and what you see here is the result. Since it is based on the same control chassis as all the others, the Camry's skin is applied over a steel tube frame and powered by an old-school 5.86-liter pushrod V8 mated to a four-speed manual gearbox.
Although the idea of a Japanese automaker in American stock car racing didn't initially get the warmest reception from some of the good ol' boys when it first entered the series back in 2007, it has by now become a staple of the NASCAR circuit. After all, it's hard for even the most patriotic of racing fans to argue with the US-built Camry's ranking as one of the most American cars by content on the market.

Toyota Tells Dealers To Stop Selling Six Models

Toyota has told North American dealers to stop selling six popular models with heated seats because the fabric doesn't meet flammability standards. One soft material beneath the seat covers does not comply with U.S. safety standards, company spokesman John Hanson said. No fires or injuries have been reported, but Toyota can't legally sell cars that don't comply with U.S. safety codes, Hanson said. The company is still totaling how many vehicles are affected, but it will be in the thousands, according to the spokesman. The stop-sale order could mean trouble for Toyota and its dealers because it covers the company's top-selling vehicles. Dealers can no longer sell certain Camry, Avalon, Sienna and Tacoma models from the 2013 and 2014 model years, as well as Corollas and Tundras from 2014. The Camry, for instance, is the top-selling car in the U.S. with more than 408,000 sales last year. It depends on how long the repairs will take. Hanson said the company already has a new material that's being installed at factories and will be put in cars that are on dealer lots. "We don't think it will take long to get the parts and make the changes," Hanson said, without getting more specific. As for vehicles already on the road, Hanson says Toyota has reported the problem to the U.S. National Highway Traffic Safety Administration, which will decide if the sold vehicles should be recalled. A NHTSA spokesman said he would check into the matter. "We don't believe that there is a safety issue here because there have been no reports of any problems," Hanson said. The stop-sale order affects cars and trucks distributed to dealers in the U.S., Canada and Mexico. In addition, some vehicles were exported outside North America, Hanson said. The problem was discovered by safety regulators in South Korea, who disassembled seats and tested individual fabrics, Hanson said. U.S. safety standards require fabrics to resist flames at a certain rate, but the one fabric didn't meet the standard, Hanson said. Toyota spokesman Naoki Sumino in Japan said the affected vehicles were sold since August of 2012, when the fabric supplier was changed. Toyota has been struggling to regain its once sterling reputation for quality after announcing massive recalls over several years, starting in 2009, for a variety of defects including braking, accelerators and floor mats. The company was fined for being slow on recalls, which affected more than 14 million vehicles, and faces lawsuits.

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.