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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.

Subaru to stop building Camry for Toyota in the US

It was back in 2007 that Subaru of Indiana Automotive, under contract from Subaru minority shareholder Toyota, built the first Toyota Camry at its plant in Lafayette, Indiana. Rumblings of the end of that contract work have been around for a while, as Subaru talked of expanding capacity to build more units and add a line for the Impreza, and Toyota talked of moving Camry production to its Georgetown, KY plant. The news was official internally last November when SIA Executive Vice President Tom Easterday told the Louisville Courier-Journal that Camry production would end. Now, Automotive News reports that both automakers have admitted publicly that the end will come in 2016.
SIA currently has a 170,000-unit capacity devoted to the home-brand Legacy and Outback models, while a $400-million expansion increases that to 300,000 units to prepare the facility for Impreza production in two years. Freeing up the 100,000 units of production devoted to the Camry means a 400,000-unit capability, which is far more than Subaru needs at the moment, but the Toyota exit will allow it to expand any way it sees fit. Subaru has said it will absorb the workers on the Camry line and no jobs will be lost, the mayor of Lafayette saying the development could change the timetable for the expansion.

Toyota C-HR stays sharp from prototype to production

Scion is dead. While the troubled brand was given 13 years to make a case for itself, it never quite succeeded. And that's a shame, because we're pretty confident that this, the production-spec Toyota C-HR would have been one of its biggest hits. Instead, when it arrives in the US, it will be as a Toyota... where it will still likely be a big hit. The new small CUV made its debut after literally years of teasing concepts, the most recent of which was shown late last year in Los Angeles, where it was badged as a Scion. After seeing that car, it's quite clear that Toyota has strained itself to translate its style to the real world. Up front, there's clear inspiration from the Toyota Auris/Scion iM. But aside from the front, the C-HR's biggest inspiration appears to be the Nissan Juke. View 14 Photos It's like Toyota has tried to go even further, though. Its wheel arches are flared even more aggressively and they feed into a strong character line on the lower portion of the doors. In back, Toyota's designers seem to have just rotated the Juke's taillights 180 degrees while they sit below an extremely fast rear window. Said window is integrated into today's latest design trend, a floating roof. Mechanically, the C-HR rides atop Toyota's New Global Architecture, which is Japan's answer to Volkswagen's MQB architecture. Power comes from a hybrid drivetrain, good for a relaxed 120 horsepower. If you don't want hybrid power, Toyota will sell the C-HR with the Euro-market Auris' turbo 1.2-liter engine, but we almost certainly won't see that here in the US. Instead, American drivers will probably be left with nothing but a 2.0-liter, naturally aspirated four-cylinder. That engine will be exclusively paired with a continuously variable transmission that sends power to either the front- or to all four wheels. So there's Juke inspiration, but not in the driving character. Toyota says it will build the C-HR Hybrid in Turkey. We don't know if that facility will handle US-market vehicles or just Europe, but we wouldn't be surprised to see additional facilities come online to produce this stylish little bugger. Related Video: TOYOTA C-HR Toyota's Fresh New Take on the Crossover 2016 Toyota Motorshow Geneva Making its world debut at the 2016 Geneva motor show, the C-HR gives Toyota a powerful new presence in the crossover market.