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Details about next-gen Toyota Prius emerge

The Toyota Prius is undeniably the king of the hybrid market in the United States, with a 39.4 percent market share in 2013. With the next-generation Prius likely to go on sale in 2015, Toyota is trying to build an even more efficient hybrid to keep its control of the market.
Keeping cost down will be one of the major concerns of the new Prius. The next generation will ride on the new, modular Toyota New Global Architecture platform. The lighter underpinnings will improve efficiency and will reduce production costs by allowing for more shared components among vehicles. Toyota will not reveal how many vehicles will use the new platform. But even with the cheaper platform, price will remain a concern. Toyota is still deciding whether all versions of the next Prius will use lithium-ion batteries or whether some models will stick with the heavier nickel-metal hydride batteries to keep cost down.
Of course, the reason most people buy the Prius is because of its great fuel efficiency. Toyota will aim for at least an 8 percent improvement in fuel economy in the next Prius, which would increase it to 58 miles per gallon city and 52 mpg highway.

The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

Tesla now California's top automotive employer

Tesla has knocked off Toyota as the biggest auto employer in the state of California, employing over 6,000 people to the Japanese company's 5,300. That lead is only likely to grow, as the EV manufacturer prepares to add another 500 jobs by the end of the year, and as Toyota begins its relocation to its new North American headquarters in Texas. The news comes barely a week after the company announced a $50 million loss during the first quarter of 2014.
Tesla's statewide employment could be set to double, beyond even 6,500 people, if it follows through on rumors to construct its eagerly awaited gigafactory in the Golden State. The $5-billion venture could add another 6,500 employees, making Tesla not just the largest automotive employer in the state, but making it one of the largest employers in the state full stop.
The investment of Tesla and its founder (and real-life Tony Stark), Elon Musk, has been substantial. The company has added 3,000 employees in the state since 2013, reopening the Toyota and General Motors joint-venture factory that use to be known as NUMMI in 2009 and constructing a design studio in Los Angeles, all in addition to its Palo Alto headquarters.