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Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Toyota's 'green bond' an industry first, quickly rises to $1.75 billion

Toyota is greasing the skids for more green car purchases with the announcement of a $1.75-billion bond designed to finance the purchase of high-efficiency Toyota and Lexus models. The Asset-Backed Green Bond is a first for the automotive industry and is making a lot of money available to buy or lease the following vehicles: any of the four Prius variants, Camry Hybrid, Avalon Hybrid, RAV4 EV, Lexus CT 200h and Lexus ES 300h. Originally, the bond was set at $1.25 billion, but Justin Leach, manager of public relations for Toyota Financial Services (TFS), told AutoblogGreen that demand was high and it was quickly oversubscribed. TFS has been looking at more ways to diversify its portfolio after a Diversity & Inclusion Bond that was announced in early 2013 and, with the new Green Bond, TFS is offering something for the "number of investors out there who are looking for investment opportunities in green." The way the money from the bond is used, basically, is that TFS takes the $1.75 billion and uses it to finance the purchase or lease of the nine vehicles listed above. As of right now, all the eligible vehicles are plug-in or hybrids, but the rules simply say that the cars in the program have to meet certain "powertrain, fuel efficiency and emissions" criteria. That means: Minimum EPA estimated MPG (or MPG equivalent for alternative fuel vehicles) of 35 city / 35 highway California Low-Emission Vehicle II (LEV II) certification of super ultra-low emission vehicles (SULEVs) or higher, which would include partial zero emissions vehicles (PZEVs) and zero emissions vehicles (ZEVs). TFS raises plenty of billions in other ways for the rest of the lineup, and got into asset backed securities in 2010, Leach said. Given the success of this first Green Bond, Leach said he expects TFS to keep this idea in its arsenal. "This one was so well received, I would be surprised if we didn't see it again," he said. "If anyone was going to do it, it should be Toyota, right?" Toyota Financial Services (TFS) Issues Auto Industry's First-Ever Asset-Backed Green Bond Bond Proceeds to Fund Consumer Loans and Leases for Toyota's Leading Portfolio of Green Vehicles TORRANCE, Calif., (March 24, 2014) – Toyota Financial Services (TFS) issued the auto industry's first-ever Asset-Backed Green Bond in the amount of $1.75 billion.

Toyota previews next Lexus RX with Tokyo-bound JDM Harrier

The Lexus RX shares much with the Toyota Highlander, but its more direct counterpart is the Toyota Harrrier. Never heard of it? That's because Toyota only sells it at home in Japan, and now it's revealed a new one. So if the Harrier is essentially a Toyota-badged version of the RX, then what's the big deal, you ask? The big deal is that the new Harrier which leaked in July, set to debut at the Tokyo Motor Show next week and which you see here isn't quite the same as the Lexus, and those differences could (and in most cases likely will) make their way over to the RX as well.
For starters, the styling is different. Granted that the Lexus version will almost certainly get a spindle-shaped grille, but even so, the Harrier's nose seems to protrude further than the RX's and the headlamps are a notably different shape. The greenhouse is also a different shape, coming to a sharper point at the back, and the mirrors are fixed to the A-pillar not to the door panel. The taillamps are revised, the tailgate has a new profile and there's a pseudo-diffuser at the bottom of the rear bumper. Subtle changes, to be sure, but then Toyota and Lexus are known for their evolutionary approach to styling. The interior has apparently undergone some updates as well, with a more dynamically styled dashboard, a more symmetrical center stack and different seats, steering wheel, door panels... the works. The infotainment display screen has also moved further down from its position in the current RX.
Toyota will offer the new Harrier with a 2.0-liter four mated to a CVT and driving either the front wheels or all four, and a hybrid setup with a 2.5-liter married to a 140-hp electric motor. The RX is offered here with a 3.5-liter V6 either on its own or with an electric assist. We wouldn't expect Lexus to go swapping the larger engines for the smaller ones, at least not for the US market. There's plenty more to the Harrier, of course, than the similarities and differences to the Lexus RX, and if you're buying a premium crossover in Japan, you can delve into the full details in the press release below, together with the images in the gallery above.