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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 and Lexus recall models for inadvertent airbag deployment

The Basics: Toyota will recall 320,000 examples in the US of the 2003-2006 Land Cruiser, 2004-2006 4Runner, 2005-2006 Tundra and Sequoia, 2003-2006 Lexus LX470, and 2004-2006 GX470. The Problem: The curtain shield airbags that come down from the roof can inadvertently deploy shortly after vehicle startup. This is due to improper programming of the airbag control module. Injuries/Deaths: "Toyota is not aware of any crashes caused by the condition. We have received reports alleging injuries such as abrasions and ringing in ears," company spokesperson Cindy Knight told Autoblog. The Fix: Toyota and Lexus dealers will replace the airbag control module with a new part, which will have improved programming. If You Own One: Toyota and Lexus will notify affected owners by mail early this month. Related Video: Toyota and Lexus Recall Certain Land Cruiser, 4Runner, Tundra, Sequoia, LX, and GX Vehicles February 02, 2016 TORRANCE, Calif., February 2, 2016 – Toyota Motor Sales, U.S.A., Inc. today announced that it is conducting a safety recall of approximately 320,000 Model Year 2003-2006 Land Cruiser; 2004-2006 4Runner; 2005-2006 Tundra and Sequoia; 2003-2006 LX 470; and 2004-2006 GX 470 vehicles. The involved vehicles are equipped with side Curtain-Shield-Airbags (CSAs) which deploy from the roof in the event of certain types of crashes. Due to improper programming in the airbag control modules, there is a possibility that, under certain specific and limited conditions shortly after startup, the CSAs and seat belt pretensioners could activate when not necessary. Unexpected activation of the CSAs could increase the risk of injury to the occupant. All known owners of the involved vehicles will be notified by first class mail. Toyota and Lexus dealers will replace the airbag control module with one which has an improved programming at no cost to owners. Information about automotive recalls, including but not limited to the list of involved vehicles, is subject to change over time. For the most up-to-date Safety Recall information on Lexus, Toyota and Scion customers should check their vehicle's status by visiting http://www.toyota.com/recall and entering the Vehicle Identification Number (VIN). Safety Recall inquiry by individual VIN is also available at the NHTSA site: safercar.gov/vin. For any additional questions, customer support is also available by calling Toyota Customer Service at 1-800-331-4331 or Lexus Customer Service at 1-800-255-3987.

Recharge Wrap-up: 1M Lexus hybrids, Best Buy Geekmobile goes Prius

Cummins is developing a plug-in hybrid system for heavy trucks. Its plug-in system for Class 6 trucks (those with a gross vehicle weight between 19,000 and 26,000 pounds) is expected to improve fuel economy by 50 percent. Funded in part by a $4.5-million grant from the US Department of Energy (DOE), the system will use a battery pack and some form of range extending internal combustion engine. The system will employ various drive cycles in order to help commercial fleets save fuel based on their needs. Read more at Gas2. German automaker Borgward, LG Chem, Bosch, and software firm SAP have joined forces to form an electric mobility partnership. Borgward recently revived its brand with a new model, the BX7. Borgward has also announced that two other models, the BX5 and BX6, will be available as plug-in hybrids. SAP will provide software services, and LG Chem will supply battery technology to Borgward. Bosch will supply and help develop a number of components for Borgward cars. Read more at Inside EVs. Lexus has sold its millionth hybrid. The luxury automaker began selling hybrids with the electrified RX in 2005, and the millionth hybrid was a NX 300h sold to a customer in Milan, Italy. "This is my first Lexus," says the customer of that vehicle in a Lexus release, Aldo Pirronello. "... and I am honored to celebrate this important milestone with Lexus!" Lexus currently sells 10 hybrid models worldwide. Read more from Lexus. Best Buy's Geek Squad is switching from Volkswagen Beetle Geekmobiles to the Toyota Prius C. As part of an update to the home electronics chain's house call service, the Geeks will be driving more eco-friendly cars with a refreshed logo. More than 1,000 Prius C Geekmobiles are being deployed nationwide. With the Geek Squad answering more than 5 million house calls a year, the fuel savings from switching to a more efficient hybrid cars means reduced emissions over the 12.6 million miles they'll drive per year. Read more in the press release below. Vehicle of Choice for Geeks? Toyota Prius c An armada of agents is about to roll out in Toyota Prius c. Their mission: to help people across America get the most from their technology. Starting today, Best Buy's Geek Squad will dispatch more than 1,000 of the vehicles – fully decked out as the new Geekmobile – nationwide.