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Toyota's Texas move could boost state's economy by $7.2B in 10 years

They say everything is bigger in Texas, and apparently that includes the Toyota's effect on the economy. The giant Japanese automaker's new headquarters in Plano, TX, will add an estimated $7.2 billion to the state over the next 10 years, according to a new study commissioned by the city and cited by Bloomberg.
The benefits appear to be an absolute steal compared to the direct incentives that Plano and the state are giving Toyota. The report finds that by the time the automaker's campus is complete in 2018, it could have 3,650 full-time workers there at an average salary of $104,000. The city has prepared $6.75 million in grants, plus property tax discounts, according to Bloomberg. In addition to that, the state is offering the business $40 million in incentives from its Texas Enterprise Fund. This is still a fraction of what Toyota is estimated to bring in.
Toyota announced in April that it would move its US operations to Plano after being headquartered in California since 1957. The move affects thousands of employees from the sales and engineering divisions. The first workers will arrive there this fall, but Toyota will eventually have a whole campus in Plano by late 2017. The move is expected to save it huge amounts in taxation and offer employees a lower cost of living. Toyota North America CEO Jim Lentz also says that the Texas location puts the headquarters closer to more of the business' factories in the south. Texas certainly appears to be showing it some southern hospitality.

Honda Civic losing ground to Toyota Corolla, sales crown threatened

Oh, what a difference a year has made. When the numbers were tallied for 2013, the Honda Civic was riding high by claiming its segment's sales crown in the US despite being challenged by the latest generation of the Toyota Corolla for part of the year. However, with just a month to go in the battle for C-segment supremacy in 2014, it looks like Toyota gets to hoist the trophy this time. Looking at November sales numbers, Honda moved 300,644 Civics through the first 11 months of the year, down 2.1 percent in volume. Furthermore, for the month alone, the company sold 23,060 Civics, a 12.3 percent drop. Meanwhile, on Toyota's side, business has been booming comparatively. Through the first 11 months it sold 309,373 Corollas, a 10.6 percent jump, and for November alone it moved 25,609 examples, a 14.2 percent improvement. With fewer than 10,000 cars between them, it would take quite a December slump for the Corolla to lose this fight. According to The Truth About Cars, the Civic actually started out the 2014 somewhat positively with 5 percent growth over the previous year, though still behind the Corolla's figures. However, the Honda has seen a slide since then with five consecutive months of sales drops. Meanwhile, the Toyota has generally kept showing growth. Being the newer model of the two, the Corolla comes to this fight with an advantage. Honda hasn't let the Civic languish; it gave the model a CVT in 2014 to boost fuel economy. That's nothing like the Toyota's thorough recent rethink, though. According to TTAC, Honda does have reason to crow about the Civic, just not necessarily in the US. The model is on track to be the bestselling vehicle in Canada for the 17th consecutive year and have its best sales since 2008 there.

Hyundai tops Toyota in annual CarMD Vehicle Health Index

CarMD has released its third annual Vehicle Health Index, which for the 2013 tracked the frequency and cost of repairs for "check engine" problems of 119-million vehicles built between the 2003 and 2013 model years. For the first two years of the index, Toyota ranked at the top of the list, but this year's results see Hyundai moved to number one, pushing Toyota down a spot.
The Korean automaker's rise to the top has been "fueled by its low repair frequency," according to CarMD. Toyota is second to Hyundai in lowest repair frequency, but Toyotas also have the highest average cost of repair. (Interestingly, General Motors vehicles have the lowest average.) Both Toyota's and Hyundai's manufacturer "health" ratings suffered this year, but Toyota took a bigger hit, which also is what helped Hyundai achieve the top ranking.
While Hyundai is the top manufacturer in the index, the 2012 Toyota Camry is the top vehicle. The best-ranking Hyundai was the 2010 Elantra (behind three Nissan models and four Toyotas), which took the number eight spot. Hyundai has six other vehicles in the top 100.