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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.

IIHS updates overlap test: 2 SUVs get good marks, 9 fare poorly

Vehicles in crashes keep occupants safe by deforming around the cabin in a way that maintains cabin integrity. The Insurance Institute for Highway Safety's moderate overlap test, introduced in 1995, has been a huge contributor to improved safety for front-row passengers in a crash. IIHS President David Harkey said, "Thanks to automakers’ improvements, drivers in most vehicles are nearly 50% less likely to be killed in a frontal crash today than they were 25 years ago." In the 'unintentional side effects' column, crash safety has gotten worse for passengers in the back seats. When carmakers reengineered the front crash structure to protect the driver, more crash forces got distributed throughout the rear. IIHS research claims rear passengers have a 46% greater risk of fatal injury than front-row passengers, but back-seaters haven't benefited from the same upgrades in safety as the front row. The IIHS updated its moderate overlap test to address the issue, putting 15 vehicles through the new regime. Two earned good ratings — the 2023 Ford Escape and the 2021-2023 Volvo XC40 — one was acceptable, three were marginal and nine were rated poor. Every one of the crossovers sampled got good marks for all passengers in the original test. That test sees 40% of vehicle's width on the driver's side impacting an aluminum honeycomb barrier at 40 miles per hour. The updated test puts a crash dummy representing small woman or 12-year-old child in the seat behind the driver, the dummy's sensors and grease paint measuring the effectiveness of the restraints and the forces a human body would need to endure. To achieve a good rating, the "measurements must not exceed limits indicating excessive risk of injury to the head, neck, chest, abdomen or thigh." An institute engineer said, "In real-world crashes, chest injuries are the most common serious rear-seat injuries for adults." The sensors and video evidence showed back seat dummies in the Escape and XC40 endured minimal risk of injuries from excessive crash forces, from submarining under the seat belt, or from unwanted interaction with the side curtain airbag.   The Toyota RAV4 scored acceptable. The second-row dummy also endured minimal risk of injury to the chest and lower extremities. However, the lap belt slipped upward in a way that could increase abdominal injuries, and after the dummy's head dipped during crash impact, the head came back up between the rear curtain airbag and rear window.

Driving the Toyota Supra and Subaru WRX STI S209 | Autoblog Podcast #625

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick and News Editor Joel Stocksdale. First, they talk about the cars they've been driving, including the Toyota Supra, Subaru WRX STI S209, and the Mercedes-Benz CLA and GLB. They also discuss rumors of the Kia Stinger getting killed off. Greg Migliore takes a break to chat with Autoblog contributor Dan Edmunds to talk about the cars he's been testing. Finally, our editors take to the mailbag to help a listener pick a sport truck in the "Spend My Money" segment. Autoblog Podcast #625 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: Toyota Supra Subaru WRX STI S209 Mercedes-Benz CLA-Class Mercedes-Benz GLB-Class Kia Stinger death rumor Chat with Dan Edmunds Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Podcasts Kia Mercedes-Benz Subaru Toyota Used Car Buying Truck Coupe Crossover SUV Luxury Performance Sedan