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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.

We dialed a random Swede, talked about not driving Volvos

The Swedish Number is now a thing. It's a cool thing. You dial, a random Swede picks up, and you chat. Or, in my case, you dial and a random Brit living in Sweden for the past six year picks up and you chat. Since I was calling on behalf of Autoblog, when I got Martin from the small coastal town of Sundsvall, on the phone, we talked about cars, Volvos (natch), and cold-weather testing. Oh, and about plugging in his regular Toyota Prius. ABG: I was able to come to Sweden and test Volvos a month or so ago. Do you drive a Volvo? Martin: [laughs] No. I think Volvo is a fantastic car. It truly is an amazing car, but no. My girlfriend has a company car, so we drive a hybrid Toyota Prius. ABG: And how does that work in the cold winters? It obviously cuts down on the environmental problems. Martin: No problem at all. Because we have these cold winters, like you do get in the States as well, where we park our cars, we've got electricity posts where we can plug in the cars. Motor car engines have a heater, so you can have the heater going for some time before you get into the car. So it warms up the engine and there's a socket inside the car to warm up the inside of the car as well. It's very efficient. You just need to remember to set the timer when you climb out of the car and connect the cable. It obviously cuts down on the environmental problems as well because your car is already warm before you start them. ABG: I know that makes them overall more efficient, I just didn't know it could work with any car. It used to be you would keep the diesel engine blocks warm, but this works for pretty much any car in Sweden? Martin: Yes. Our temperatures here can vary. We do tend to get roundabout -18 to -25C [0 to -15F], where I live, sometimes. Normally, in the winter, we always plug the car in to make it more environmentally friendly, for starters, and then it's a nice warm car when you get in. The coldest I remember it getting here was -36 [-33F]. In the north of Sweden they've had, on record, -56 [-69F]. ABG: That's too cold. Martin: That is cold, yeah. Most countries, now, use the north of Sweden to test their cars because of the ice. Volvo S90 Prototype View 15 Photos ABG: That's actually why I came over there, to test out the new XC90s and S90s. Martin: Is that your job, then? ABG: I don't test the cars for the companies, but I test them for Autoblog. They'll invite us to test the vehicles so we can see for ourselves what the vehicles do in cold weather.

Toyota TRD Pro lineup coming next week

A mysterious Toyota commercial recently popped up on YouTube teasing a new TRD Pro lineup for the Tundra, Tacoma and 4Runner, and now we're getting our first official word straight from the automaker on the matter. Courtesy of its Facebook page, Toyota is promising that the TRD Pro models will be introduced on February 6th, ready to "conquer the great outdoors."
This date just so happens to mark the first day of the always-truck-friendly Chicago Auto Show, so while Toyota isn't saying as much, we're almost certain the trucks will show up next week in the Windy City. It's not clear what sort of upgrades TRD Pro brings, but it definitely includes black wheels and a tweaked front end featuring a thick, single-bar grille and bold lettering in place of the stylized Toyota logo (shown above on the Tundra).
Scroll down to see the video, and head over to Toyota's Facebook page to see a teaser image of the 4Runner TRD Pro.