2014 Toyota Tundra Platinum on 2040-cars

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Toyota Matrix discontinued for 2014

Between its slow sales and the upcoming redesign of the closely related Corolla sedan, things haven't been looking good for the Toyota Matrix (for some time now). After 10 years on the market, Toyota has officially announced that it will drop the Matrix from its US lineup following the 2013 model year.
The announcement was made as a part of a press release breaking down what's new for Toyota in 2014, but for now, it doesn't look like any Toyota-branded product will fill the Matrix's spot. The Matrix and its sister car, the defunct Pontiac Vibe, were the final vehicles developed under the joint venture between Toyota and General Motors, an arrangement launched back to 1984.

Lexus Eco Challenge rewards schools for clean water, briquette press projects

Teams from one New Jersey high school and one Michigan middle school reversed the old adage by thinking locally and acting globally. And that strategy won them the grand prizes in the most recent edition of the Lexus Eco Challenge. The future is indeed bright. The Toyota luxury-vehicle division gave out a half-million dollars in this year's contest. One $30,000 grand prize was awarded to the Pinelands Eco Scienteers from Little Egg Harbor, NJ, which produced and distributed low-cost briquette presses to rural villages beset by deforestation. The other grand prize went to the E.T. Electrical Team from Byron Center West Middle School in Michigan. That middle-school group raised money to send water filters to Haiti, Kenya and the Philippines. Lexus also awarded eight $15,000 first-place awards, with the winners including high schools from California, Florida, Missouri and Pennsylvania as well as middle schools from Arizona, Michigan, North Carolina and Texas. A special shout out goes to Daniel Boone Area High School in Birdsboro, PA, where students created an educational and public-relations campaign to publicize algae-based biofuels. In all, Lexus has doled out more than $4 million in Eco Challenge awards in seven years. Check out Lexus's press release below. Students Get Dollars and Sense in Lexus Eco Challenge - $500,000 Awarded to Teams Who Learn About Environment and Community Empowerment Two Grand Prize Teams Earn $30,000 Eight $15,000 First Place Awards Given to Innovative High School and Middle School Teams Students Bring Ideas to a Larger Audience and Make a Positive Impact on the World TORRANCE, Calif., (Feb. 24, 2014) – It's a win, win situation! Communities become a better place, and students, teachers and schools have the chance to share $500,000 in scholarships and grants through the Lexus Eco Challenge. This year, the $30,000 Grand Prize winners are the Pinelands Eco Scienteers from Little Egg Harbor, New Jersey, and the E.T. Electrical Team from Byron Center, Michigan. The Lexus Eco Challenge is an educational program and contest that inspires and empowers young people to learn about the environment and take action to improve it. High school and middle school teams nationwide define an environmental issue that is important to them, develop an action plan to address the issue, implement the plan, and report on the results.

Automakers paying Chinese dealers for lower-than-expected sales

The Chinese dealers vs. foreign manufacturers story won't quit. It began with a story on the struggles faced by FAW-Toyota joint venture dealers, with supposedly 95 percent of the showrooms losing money, and 10 percent of them doing so poorly that they'd have to exit the business. The problem is mandated sales targets, most set when the country's economy was racing. Now that things have slowed, China's dealers are swimming in unsold cars and the costs to keep them. In the case of FAW-Toyota, dealers asked Toyota to hand over 2.2 billion yuan ($355 million) to help address the situation. That was followed by a report noting the issues that Honda, BMW, and Nissan dealers are having with the same issue, revealing that the Chinese Automobile Dealers Association (CADA) had taken the highly unusual step of writing to the Chinese government to complain. Now Reuters reports that CADA is not only pressing its case even harder, it's being open about it: it announced that BMW agreed to pay dealers 5.1 billion yuan ($820 million) to alleviate poor profits last year. Unnamed sources said Audi has thrown 2 billion yuan into the kitty for subsidies, and Daimler has contributed "about 1 billion yuan" to its dealers. The battle isn't just about 2014, but how business will be run in 2015 as well: Chinese Porsche dealers have requested the automaker lower its 2015 target of 64,000 cars, which would be a 40-percent increase on its 2014 sales of 46,931 vehicles. One analyst called it "shocking" that the CADA has taken its fight public, while CADA comments continue to imply that dealers have been railroaded to the cliff's edge without recourse. "Due to the difference in status," it's deputy secretary said, "individual dealers are not willing to, or don't dare to, talk frankly with the carmakers...." Both parties need one another, so they'll figure out a way to make it work – but that could mean acknowledging the Chinese market is behaving more like a mature one, not an emerging one. News Source: ReutersImage Credit: Lintao Zhang/Getty Images Earnings/Financials Audi BMW Porsche Toyota Car Dealers Luxury