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Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Recharge Wrap-up: Nissan "religious" about zero-emissions, Tesla crashes at dealership, Formula E on-board video

Nissan is pretty darn serious about being king of the EV industry. Just see what Chief Planning Officer Andy Palmer has to say at the launch of the e-NV200: "When it comes to zero emissions, we're absolutely religious. We'll be the absolute, No. 1 leader in zero emissions. No doubt. That's our positioning." Bold words, to be sure. Toyota, on the other hand, ended its collaboration with Tesla (whom Nissan mustn't forget about in its quest to reign supreme in the EV world) to build the RAV4 EV, and will focus instead on hybrids and testing the waters with hydrogen cars. Says Jim Lentz, CEO of Toyota North America, "I would rather invest my dollars in fuel cell development than in another 2,500 EVs." Read more at Automotive News or Autoweek. To celebrate 25 years of TDI technology, Audi is releasing the A7 Sportback 3.0 TDI Competition special edition in Europe. The Competition uses Audi's biturbocharged, 3.0-liter diesel engine boosted to 326 horsepower, giving the car a 0-62 time of 5.1 seconds. It comes with the S line sport package and is offered in four exterior colors: Daytona Gray, Misano Red, Nardo Gray and Sepang Blue. The interior is black leather, with the option of Misano Red or Agate Gray contrast stitching. The Competition edition will go on sale in August starting at ˆ72,000 (about $97,700). Audi's first Turbocharged Direct Injection engine debuted at the 1989 Frankfurt Motor Show in the Audi 100 2.5 TDI. See the press release down below for more details. There was another Tesla Model S crash recently, this one at the Tesla Store. The driver apparently crashed the freshly purchased car into the Tesla sign before even making it off the lot. According to Reddit user s1lentway, who was at the Tesla Store in Fremont, California when it happened, "We believe this is someone who just got their car. They must have been driving it for less than a minute and lost control, crashing right into the sign missing the showroom glass windows only by a few inches." Wrecked Exotics suggests the driver hit the accelerator instead of the brake pedal. Probably the best comment in the Reddit post: "Edison strikes again." See the original post at Reddit for more corny jokes, speculation and similar stories from other users. Take a lap in a Formula E racecar. The video below offers up the sights and sounds of a hot, wet lap in the open-cockpit, all-electric Spark-Renault SRT_01E.

GM outsold VW globaly in first quarter, Toyota reports numbers next week

General Motors released its first quarter sales figures this week, reporting that it sold 2.36 million cars and trucks worldwide. That figure represents an increase of 3.6 percent when compared to the same period last year. GM's growth was attributed to many factors, including global Cadillac sales that were up 26 percent and Chevrolet posting a one percent increase over last year (this marked Chevy's tenth straight year of record global sales).
Volkswagen came in just behind GM, as the German automaker reported global sales from January through March at 2.27 million vehicles, an increase of five percent when compared to last year. While that number was strong, VW is cautioning that markets outside China and the US, such as those in Europe, are becoming a challenge as economies falter.
Yet to report sales is Toyota, current holder of the global world sales crown (the Japanese company sold 9.75 million cars last year, against 9.29 million sold by GM and 9.1 million vehicles sold by VW). Even though GM and Toyota both say they don't care who sells the most units, it is unquestionably a strong bragging point and sales equate to revenue. That said, Toyota will report its first quarter numbers next week.