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Local production could improve Toyota Prius' fortunes in China

The Toyota Prius is the world's most popular hybrid vehicle, but it may take domestic production capabilities for the model to achieve a high level of popularity in China. Japan-based Toyota is aiming to produce an increasing percentage of Prius components in China in order to bring down its price there, Bloomberg News reports. Eventually, the goal is to make all Priuses sold in China in that country in order to avoid the steep 25-percent import tariff. As it is, Toyota sold just 1,400 Prius vehicles in China last year, compared to about 234,000 in the US and 315,000 worldwide. Hindering sales is the fact that the Prius costs about as much as an entry-level Audi in China, where Volkswagen is the country's best-selling automaker. Toyota has been selling the Prius in China for almost a decade but may soon find local sources for the batteries and other hybrid parts for the Prius and Camry Hybrid, Bloomberg says, citing comment from Hiroji Onishi, Toyota's China chief, at the Beijing Auto Show. Part of the problem is that the Chinese government provides less than $500 worth of subsidies for each hybrid sold, compared to about $9,600 for an electric vehicle. While that subsidy may rise as China municipalities take on the country's growing pollution problems, there's lingering concern over spurring sales of a car that's made by competing Japan. Toyota starting making some of its Prius vehicles in China in 2005 but halted production on the second-generation version of the hybrid four years later.

8 fastest depreciating cars in America

Getting a new car is an amazing experience. The fresh new scent, the barely touched interior, the double digit miles on your odometer, and... the depreciation once it leaves the car dealers lot? Maybe not that last one. To save you from the hurt of a quickly depreciating new car, we collected 8 of the fastest depreciating cars in America. And here's a surprise, one of them is a Toyota. Learn more at Autoblog.com Cadillac Infiniti Jeep Kia Lincoln Toyota Autoblog Minute Videos Original Video jeep compass cadillac xts infiniti q50 camry q50

Post-earthquake, Toyota prepares to reopen some plants in Japan

Toyota will restart vehicle production at most of its closed factories in Japan next week, but the factories that build the Mirai and many Lexus models will remain closed through at least April 28 and possibly longer. The earthquakes around the city of Kumamoto on the island of Kyushu forced the automaker to stop most of its assembly throughout the country due to a lack of parts supply. Toyota will reopen the plants in phases from April 25 to 28. However, the Motomachi factory with its LFA works, which makes the Mirai, and the Miyata factory will remain closed. These sites also build the Lexus NX, RX, ES, GS, and CT, according to Toyota. The automaker didn't say when production would begin again or how this would affect vehicle supply. "In the update, we received this morning from TMC, they said that at this stage it is too soon to tell what the impact on production will be, so we can't say yet whether there might be vehicle shortages in the US," spokesperson Aaron Fowles told Autoblog. While the quakes were focused on Kyushu, they damaged Aisin Seiki factories, which supplied parts to Toyota plants across the country. The automaker worked with its partner to import the necessary components from China and Mexico, and Aisin started moving molds from the damaged plants to operational ones in Japan, which gets production under way sooner. Automotive News Europe estimates the week of lost production cuts total assembly by 90,000 vehicles. It could cost Toyota the equivalent of $458.2 million to $641.5 million. The company could make up some of the losses through overtime. Toyota says these plans are subject to change because on ongoing tremors in the region, which could cause more damage. Reuters reported there was a magnitude 5.5 aftershock in the Kumamoto area on April 19. So far, the quakes have killed at least 47 people and around 100,000 people have moved to evacuation centers. Toyota to Restart Production on Vehicle Assembly Lines in Japan from April 25 Apr. 20, 2016 Toyota City, Japan, April 20, 2016-Between April 25 and 28, Toyota will restart production on most of its vehicle assembly lines in Japan. On April 17, Toyota announced that, due to parts shortages resulting from the severe earthquakes that struck Japan's island of Kyushu last week, production would be suspended on almost all of its vehicle assembly lines in stages between April 18 and 23.