2014 Toyota Prius Two on 2040-cars

Auto blog

Toyota profits up 23% on high US sales, despite mounting legal costs

Toyota earned $9.3 billion in net income in the financial year that ends next month. The number beats earlier forecasts and marks a five-year high for the automaker, with both operating income and revenue up by 9.5 percent and 2.5 percent, respectively. Toyota saw quarterly profit enjoy a year-on-year jump of 23.4 percent, with the manufacturer earning more than $1 billion between October and December 2012. The good news comes in spite of the fact that the Japanese automaker actually endured an operating loss in North America, due in part to legal fees.
Toyota is set to pay more than $1 billion to owners who claim their vehicles decreased in value as a result of the company's recent spate of recalls. Even so, all three of the automaker's brands enjoyed a 13.5 percent sales increase in the US in the last quarter, beating the industry average. Toyota faltered in Europe, however, where it earned $99 million in operating profit last year, compared to $111 million in 2011. You can take a closer look at the company's full press release below for more information.

Toyota moving US headquarters to Plano, Texas

It's official, Toyota is relocating its US operations to Plano, TX. And it won't be a symbolic 'all ranch and no cattle' gesture - the Japanese automaker, whose headquarters have been in California since 1957, has decided to base nearly all of its operations in the Lone Star State, including much of its engineering, finance and sales and marketing teams.
The move, which will see the establishment of a new headquarters campus in the Dallas suburb will not only affect employees at the company's current Torrance, CA Toyota Motor Sales USA campus, it will also touch the lives of thousands of employees at the company's other operations, including 1,000 workers at Toyota Motor Engineering & Manufacturing North America in Erlanger, KY and some New York-based staff as well. The Toyota Technical Center in Ann Arbor, MI is not facing relocation, however, and it actually stands to gain responsibilities as Toyota overhauls its US org chart. Toyota says that its reorganization will affect about 4,000 employees in total.
According to Automotive News, while Toyota is adopting an "'everyone is invited' stance for the relocation," some attrition is expected from employees who aren't interested in relocating southward from the Golden State. For its part, the automaker is reportedly making expenses-paid visits to Plano available to full-time staffers and spouses to help them make the relocation decision, as well as a lump-sump payment if they decide to go through with the move.

Recharge Wrap-up: Toyota i-Road and COMS in France, Tesla tours Northeast, EV attitudes in UK

Toyota's i-ROAD and COMS teeny, tiny, city EVs are joining the Citelib carsharing fleet in Grenoble, France. The ultra-compact EVs, which will become available in October, are meant to supplement the Grenoble metropolitan area's existing public transit infrastructure, which includes trams, buses and trains. Toyota's i-ROAD and COMS will be connected to the transit systems IT infrastructure, allowing users to visualize their route on their smartphone or computer, and reserve and pay for their car before they get dropped off near the charging station (or the other way around). Then, the user finishes (or begins) their trip with one of the EVs. Surveys show that use of public transport is increasing in Europe, but most users still have to walk 15 minutes or so to reach their destination. Adding the i-ROAD and COMS carsharing service to their commute makes the trip into the city center quicker and more flexible, while keeping the air clean. See more below. Toyota is providing 70 vehicles to the Citelib program as part of a three-year test, while French energy company EDF is contributing 30 charging stations to the project. The i-ROAD is a three-wheeled EV that seats two people, and it features Active Lean technology for stability and comfort in the corners. Its footprint is about one-fourth that of a regular car. The four-wheeled COMS EV seats one, but also features a small storage compartment in the rear. The Tesla Model S is going on tour throughout the Northeastern US to give test drives to the public. Beginning July 4 in Montauk, NY, and ending August 30 in Vergennes, VT, people will get the chance to take a 15-minute spin in what many consider to be the best electric car available as part of Tesla's Fully Charged tour. If you live in New York, New Jersey, Massachusetts, Maine, Connecticut, New Hampshire or Vermont, the Model S may be coming to a town near you (check the schedule here) and you'll get the chance to drive the car with a product specialist in the passenger seat to answer your questions. You can even bring up to three guests in the back seat. So if you live in one of the states where Tesla can't sell cars or doesn't have a store, this is your chance to get to know the vehicle and decide if you want to buy one. Or you can just see what it feels like to silently go from 0-60 in 4.2 seconds (hint: it's pretty cool). A UK Survey shows five percent of people there are considering buying an electric vehicle.