TOKYO (Reuters) – Toyota, set to lose its crown as the world’s top-selling automaker this year, more than halved its annual profit forecast to $2.6 billion, reeling from a strong yen and Thai floods that severed its supply lines.
Toyota Motor Corp’s (7203.T: Quote, Profile, Research) inability to make enough cars – production was also ruptured by the earthquake and tsunami in Japan in March – is expected to see it overtaken in sales this year by General Motors Co (GM.N: Quote, Profile, Research) and probably Volkswagen AG (VOWG_p.DE: Quote, Profile, Research).
TOKYO, Dec 9 (Reuters) – Toyota Motor Corp cut its
profit forecast for this business year by more than half on
Friday after it was hit by a stronger yen and widespread output
disruptions due to Thailand’s floods.
Japan’s top automaker said it expects an operating profit of
200 billion yen ($2.6 billion) in the year to March 31, 2012,
down 57 percent from last year and well below a consensus
forecast of 419 billion yen in a survey of 23 analysts by
Thomson Reuters I/B/E/S.
FRANKFURT (Reuters) – Blinded by the runaway success of the Prius, Toyota Motor Corp (7203.T: Quote, Profile, Research) mothballed the costly development of new diesel engines and bet the farm on hybrids taking off in Europe, a mistake that has since come back to haunt it.
Bitter rival Nissan Motor Co (7201.T: Quote, Profile, Research) is on course to leapfrog Toyota as the best-selling Asian brand in Europe come March, should this year’s sales trend continue, with Hyundai Motor Co (005380.KS: Quote, Profile, Research) not far behind.
TOKYO/FRANKFURT (Reuters) – Toyota Motor Corp and BMW AG agreed on Thursday to join hands on a broad range of environmental technologies, forging a partnership between two engineering stalwarts in the increasingly competitive auto industry.
Under the agreement, the two will work together on lithium-ion battery research that is seen as key to electric cars, while the German premium brand will also supply 1.6 and 2.0 liter diesel engines to Toyota from 2014 in Europe. They will also identify possibilities for other projects.
TOKYO/FRANKFURT (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research) and BMW AG (BMWG.DE: Quote, Profile, Research) said on Thursday they would work together on a broad range of advanced environmental car technologies including the joint development of lithium-ion batteries for electric vehicles.
BMW will also supply 1.6 and 2.0 litre diesel engines to Toyota beginning in 2014 for cars to be sold in Europe, while the two have agreed to identify and discuss other possible joint projects.
TOKYO (Reuters) – Toyota Motor Corp and BMW AG said they would hold a joint news conference at 4 p.m. (0700 GMT) in Tokyo on Thursday, as sources this week flagged a likely cooperation between the two in green car technology.
Toyota and BMW did not give the subject of the briefing, but a source familiar with the matter said earlier in the week that the two were poised to cooperate in developing electric car batteries, while media reports have also raised potential deals in diesel engines and hybrids.
TOKYO, Nov 30 (Reuters) – Japanese automakers unveiled
futuristic concepts such as car-powered houses and rechargeable
sports cars at the Tokyo Motor Show, but the stubbornly strong
yen cast a pall over the industry, threatening their chances of
keeping the lead in next-generation technology.
The biennial auto show, which opened to the media on
Wednesday, showcased the usual array of green cars such as
electric vehicles (EVs) and fuel-cell cars, while top Japanese
brands went further to depict how cars could eventually link up
to the grid and store energy in their batteries as a power
TOKYO (Reuters) – Toyota Motor Corp said it would start taking orders for its first plug-in hybrid car, the Prius PHV, in Japan on Tuesday, touting it as the world’s most practical green car and aiming to steal thunder from pure battery-powered vehicles.
Unveiling the production-ready car ahead of the Tokyo Motor Show this week, Toyota said the rechargeable Prius PHV would be priced from 3.2 million yen ($41,000) in Japan, higher than what it had flagged two years ago but cheaper than Nissan Motor Co’s Leaf electric car, which costs 3.76 million yen before subsidies.
OYAMA-CHO, Japan (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) unveiled a highly anticipated sports car that it hopes will trigger the rebirth of the company as a maker of “fun” cars that it hasn’t been in years.
Japan’s top automaker took the wraps off the compact, rear-wheel-drive model at the Fuji Speedway circuit at the foot of Mount Fuji on Sunday, in front of thousands of racing fans, in a departure from traditional banquet-room launches.
TOKYO, Nov 10 (Reuters) – The impact of Thailand’s floods on
Honda Motor Co has extended to a fourth continent,
while in contrast Toyota Motor Corp showed further
signs of recovery from the disaster.
Thailand’s worst floods in half a century have inundated
hundreds of parts suppliers, forcing many automakers to halt
work in the country and reduce output elsewhere.