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Toyota nears $40B cash reserve as calls grow for new investment, payouts

With the April 15 tax deadline just a few months away, our US readers will be faced with a decision should they get a refund: save or spend? It seems this issue is one many of us face whenever there's a windfall, trying to decide whether we should set the money aside in an account of some sort or use it as a down payment on a new car or a trip to the Apple store. Unsurprisingly, major corporations face a similar, albeit more complex, issue.
Take Toyota, for example. With President Akio Toyoda at the helm, the Japanese manufacturer has gracefully weathered recalls and natural disasters, all while turning beaucoup profits. Last quarter, profits quintupled to 434.4-billion yen ($4.3-billion USD), according to Bloomberg. Toyota also upped its forecast for the end of fiscal year 2013 (which ends on March 31 for Japan), to a record 1.9-trillion yen (about $18.8 billion). Now, the Japanese brand is reportedly sitting on a cash pile of nearly $40 billion, leaving Toyoda-san in an envious predicament - what should the company do with all that money?
Some think Toyota should be doing something, anything with that big stack of cash.

Toyota recalls power window switches for 6.5 million vehicles [UPDATE]

UPDATE: There was one incident of someone in the US getting a burn to the hand from this issue Toyota spokesperson Cindy Knight tells Autoblog that. "We have 11 reports where part of the door trim and/or switch was burnt," she said. The company isn't aware of any crashes from the problem, though. Because of a potential short circuit in the driver's side power window switch, Toyota is recalling 6.5 million vehicles worldwide, Reuters reports. Of those, the automaker says around 2 million are in the US. The affected models here are: 2007 and 2009 Camry and Camry Hybrid 2009-2011 Corolla 2008-2011 Highlander and Highlander Hybrid 2009-2011 Matrix 2006-2011 RAV4 2009-2011 Sequoia 2009-2011 Tundra 2006-2010 Yaris 2009-2011 Scion xB 2009-2010 Scion xD According to Toyota, the switch might not have received adequate lubricant grease during manufacturing, and over time this could lead to a short circuit. In a worst-case scenario, the part might even overheat, melt and cause a fire. As a fix, dealers will inspect the component on these vehicles and apply heat-resistant grease to it, and any broken examples will have an internal circuit board replaced. Toyota already issued one recall for this problem in 2012 when it had to repair 7.5 million vehicles globally from the 2007-2009 model years, including 2.5 million in the US. These latest models had the grease applied in a different way. Related Video: Toyota Recalls Certain Vehicles for Power Window Master Switch October 21, 2015 TORRANCE, Calif., Oct. 20, 2015 – Toyota Motor Sales, U.S.A., Inc. today announced that it is conducting a safety recall of approximately 2,000,000 vehicles related to the driver's side Power Window Master Switch. The involved vehicles include certain: 2007 and 2009 Camry and Camry Hybrid 2009-2011 Corolla 2008-2011 Highlander and Highlander Hybrid 2009-2011 Matrix 2006-2011 RAV4 2009-2011 Sequoia 2009-2011 Tundra 2006-2010 Yaris 2009-2011 Scion xB 2009-2010 Scion xD The Power Window Master Switch in the involved vehicles may have been manufactured with insufficient lubricant grease. If not enough grease is applied, under certain conditions the switch may develop a short circuit that can cause the switch assembly to overheat and melt. A melting switch can produce smoke and potentially lead to a fire. Toyota previously recalled certain 2007-2009 model year vehicles for a similar condition.

Weekly Recap: Ford GT inspires guitar, foosball table, sailboat

Ford design vice president Moray Callum had just wrapped up a briefing on the interior of the Ford GT last month, but something seemed out of place. He grinned and pointed behind him, "You might be wondering why I have a boat behind me," he said mischievously. It was there because Ford set its designers on a mission to stretch and showcase their talents: design non-automotive objects inspired by the interior of the GT supercar. Callum received quite a response, too. His team produced a guitar, a foosball table (yeah bro!), a racing sailboat, a Wi-Fi speaker and some furniture. As the veteran design chief explained, "It's a really great exercise both to highlight our designers' talents, but also to really see how our design philosophy can work and how you can use it and get a common response back from a worldwide design team." Guitar View 25 Photos The objects have been on display this week at the Salone del Mobile furniture and fashion design fair in Milan, Italy, where Ford has had a presence for three years. There's also a light exhibition that apparently was inspired by the GT, as well. While this might seem a little far-fetched for the automaker, Ford said exhibitions like the Salone del Mobile give its designers another way to be creative and ultimately produce striking interior style. Ford wants this to be a differentiator, as research shows consumers are placing emphasis on the layout and features inside when they're making a decision about buying a new car. It's a little light hearted – but it's also potentially big business. Other News & Notes Cadillac CT6 platform could be used for Buick General Motors product chief Mark Reuss said the Cadillac CT6 platform could be used for a large Buick, though "not yet," Automotive News reported. The underpinnings can accommodate rear-wheel or all-wheel drive and would give Buick the large flagship it lacks. The report jibes with comments Reuss made at a roundtable with Autoblog and other reporters at the New York Auto Show. When asked if Buick had space for a large car on the CT6 chassis, he replied, "Yeah, I think it does. Yeah, I think we do." Buick has revamped its lineup in recent years with attractive crossovers and small and midsize sedans, but hasn't added the proverbial flagship that's yearned for by enthusiasts. Buick surprised industry observers with the stylish Avenir concept at the Detroit Auto Show earlier this year that raised the possibility of a halo sedan.