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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.

Massive Airbag Recall Affects Seven Automakers

The recall of faulty airbag inflators supplied by Takata has exploded today to grow to seven automakers. In most cases, only models in certain high-humidity regions were affected because the National Highway Traffic Safety Administration found in its investigation that moisture played a role in determining whether there would be a problem. However, some companies opted for national campaigns. The exact number of affected models for these campaigns isn't yet known at this time. BMW is recalling an undisclosed number of 325i, 325Xi, 330i and 330Xi models from the 2001 through 2005 model years and the 2001-2006 model year versions of the 325Ci and 330Ci for the driver side and passenger side inflators. Only vehicles currently registered in Florida, Puerto Rico, Hawaii and the US Virgin Islands are covered under this recall. Neither Chrysler's filing with NHTSA nor its press release list the specific models affected, but a company spokesperson told Autoblog that at this time it only covers the driver and passenger side inflators for the 2006 Dodge Charger in Florida, Puerto Rico, Hawaii and the US Virgin Islands In most cases, only models in certain high-humidity regions were affected because the NHTSA found that moisture played a roll in determining if there would be a problem. Ford is recalling an estimated 58,669 cars that include the 2005-2006 model years of the Ford GT for the driver and passenger inflators, the 2007-2007 model years of the Mustang for the driver side and 2004 Ranger for the passenger side. It covers vehicles originally sold or currently registered in, wait for it... Florida, Puerto Rico, Hawaii and the US Virgin Islands. Honda is issuing three separate recalls regarding the problem. First, the company is recalling the 2002-2003 model years Civic, CR-V and Odyssey and the 2003 model year of the Accord, Element, Pilot and Acura MDX to replace the passenger's side inflator. This covers all models nationwide. Second, Honda is repairing the passenger's side airbag inflator in the 2003-2005 Accord, Civic, CR-V, Element, Pilot, the 2003-2004 model year versions of the Odyssey, the 2003-2005 model year Acura MDX and 2005 Acura RL. However, only for vehicles located in Alabama, Florida, Georgia, Hawaii, Louisiana, Mississippi, South Carolina, Texas, Puerto Rico and the US Virgin Islands. Owners will be notified in July. Finally, Honda is separately replacing some models' driver's side inflators.

Toyota, Lexus expanding Takata airbag recall, re-notifying customers

Toyota is re-notifying owners and expanding its Takata airbag inflator recall for some regions. The renewed campaign covers 247,000 examples of the Toyota Corolla, Matrix, Sequoia, Tundra and Lexus SC430 that are located in southern Florida, along the Gulf Coast, Puerto Rico, Hawaii, the US Virgin Islands, Guam, Saipan and American Samoa. All of the models come from the 2001-2004 model years and have potentially faulty Takata-made inflators on the front passenger side. According to the company, testing shows the problem warrants "immediate action," and its press release says, "this action intensifies Toyota's efforts to reach customers and remedy previously recalled vehicles, and a small number of newly included vehicles."
According to Toyota, it submitted some recalled inflators to Takata for testing, and it found a high probability of rupturing in high humidity areas. The automaker said it had no reports yet of injuries or fatalities related to the problem.
This is Toyota's third inflator recall this year. In June, it called in for repair the same vehicles from the 2003-2005 model years in high-humidity areas, and it conducted a separate campaign nationwide for the parts in additional models. In April 2013, it also announced a fix campaign for 1.73-million vehicles worldwide for the same issue.