2008 Toyota Prius Touring Hatchback 4-door 1.5l on 2040-cars

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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.

BMW Z4 and Toyota Supra replacement spied in the snow

The new BMW Z4 and Toyota Supra will be the fruit of a marriage of convenience, born from the former's chassis and powertrain expertise and the latter's giant coffers full of money. The final product, spied testing in frigid temperatures in parts unknown, will have specific bodies depending on which brand it carries, so it won't be a simple rebadging exercise. This mule sports a softtop, rather than a retractable hardtop like the existing Z4. Whether this represents a final decision about what type of roof will be fitted to the production model is unclear. What we have heard, repeatedly, is that the chassis and the entire driveline will be pure BMW for both models, and that the main difference will be brand-specific sheetmetal. There are even rumors that an all-wheel-drive version will be available, or that the model will be available as a hybrid using Toyota's expertise in that arena. It's been a long wait since the memorandum of understanding that lead to the mule you see above was signed in 2012, and we had expected an announcement that the roadster would go into production by the end of 2015, but that time has come and gone. Perhaps we'll find out more at one of the upcoming auto shows. Geneva is coming up in March, after all.

Meet the Most Elegant Automobile, and it's for sale

Alright, so maybe "most elegant" is a bit of a stretch, but we feel safe in calling the 1992 Toyota Paseo in the video below an "automobile." High praise, we know. Still, it's clear someone loves the awkward little coupe enough to produce a hilarious video to sell the thing. Henry Floyd worked up a quick parody of the over-the-top luxury car ads we all know and loathe, and while the finished product is a little skimpy on details like price or location, it certainly doesn't hold back on the exposition.
Hell, if we didn't already have a parade of horrible ideas floating around our collective driveways, we might even be convinced to give this little heap a new home. You can check out the ad for yourself below, just don't be surprised if you find yourself with a burning desire to own a Paseo.