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Toyota finds profit in Europe thanks to hybrid sales

In the land of diesel, Toyota appears to be making money its own way and thereby making more of it. The Japanese automaker is taking on Europe's diesel-centric ways by substantially boosting sales of hybrids on the continent. That, along with cost cutting measures, has increased the company's European profitability, Automotive News says, citing recent remarks by Toyota's European operations chief Didier Leroy. Toyota, which lost money in Europe between 2008 and 2011, started turning things around two years ago by cutting labor at places like UK factories while consolidating production of models such as the Auris and Yaris hybrid vehicles. During the most recently completed financial year, Toyota Europe reported earnings that were up 75 percent from the year before, despite revenue being up just five percent. The company also aims to sell at least 1 million vehicles in Europe by next year and is boosting sales in countries like Russia. Late last year, Didier told Bloomberg News that Toyota's European market share was rising about one percentage point a year, while production at Toyota's factories in countries like France, Turkey and the UK were running at full capacity. Toyota estimated at the time that hybrids accounted for about a fifth of Toyota's European sales.

Toyota officially outsells GM, VW through first three quarters

When it comes to global vehicle deliveries, the term "Big Three" doesn't apply to Ford, Chrysler and General Motors, but instead Toyota, GM and Volkswagen - in that order - through the third quarter of 2013. Toyota sold 7.41-million vehicles through the third quarter and is on track to deliver more vehicles this year than GM and VW, which sold 7.25-million and 7.03-million, respectively, through the same period, Bloomberg reports.
During the third quarter, from July to September, Toyota's 2.5-million deliveries helped to push it higher than its closest competitors this year. In that period, GM delivered 2.4-million vehicles while VW posted 2.33-million deliveries.
Part of the reason behind Toyota's and other Japanese automakers resurgence globally is the weakened yen, which can be attributed to policies made by Prime Minister Shinzo Abe since he took office in December 2012. Many refer to those monetary easing policies as 'Abenomics,' which has led some, such as Ford, to call Japan a currency manipulator and is a big reason why the US is lobbying to oppose Japan's entry into the Trans-Pacific Partnership (TPP).

Toyota reveals new versions of FT-1 concept at Pebble Beach [w/video]

Toyota certainly caught our attention when it unveiled the FT-1 concept at the Detroit Auto Show last January. Coming from the same people who gave us the Lexus LFA, Scion FR-S and Toyota Supra, the FT-1 concept looked striking in its bright red livery. But the Japanese automaker isn't quite done with it yet.
No, we're afraid we don't have a production announcement to share at the moment, but Toyota has revealed two new versions of the FT-1 concept that cast it in different light. Most notable is the graphite version pictured above. Replacing the bright red paintjob and two-tone red and black interior of the original concept, this second iteration - presented in the metal at McCall's Motorworks Revival in Monterey, California - goes for a more upscale and refined graphite exterior and a tan leather interior with exposed metal elements.
Both versions of the virtually road-going FT-1 concept will be playable in GT6, but at the same time Toyota also revealed (in digital form, at least) a virtual racing version of the concept called the FT-1 Vision Gran Turismo. Looking like the original concept was prepared for Japan's Super GT series, the FT-1 Vision GT is retuned for racing, with wider fenders, more extreme aero, competition-spec alloys on slicks and the like.