CHANGSHU, China, April 22 (Reuters) – Toyota Motor Corp
wants locally procured parts to make up at least half
the components in the gasoline-electric hybrid propulsion
systems for the Corolla and Levin cars it plans to start making
in China next year.
Shinichi Matsumoto, Vice President for Toyota Motor
Engineering & Manufacturing in China, said Toyota needs that
level of local content in order to bring down prices of hybrids
and to generate more sales in the world’s biggest auto market.
BEIJING, April 21 (Reuters) – Toyota Motor Corp is
considering significantly expanding its production capacity in
China as is seeks to catch up with global rivals in the world’s
largest auto market, a senior executive said on Monday.
Toyota, the world’s largest carmaker, is aiming to double
sales in China to 2 million vehicles, a figure its China chief
Hiroji Onishi said was the “minimum level” necessary to keep up
with market leaders Volkswagen AG and General Motors
Co. He did not set a timeframe for the increase.
BEIJING, April 20 (Reuters) – The head of Lexus, the premium
brand of Toyota Motor Corp, said on Sunday an emphasis
on quality had kept it from manufacturing in China.
Unlike German peers Audi, Volkswagen AG’s luxury
division and BMW, Lexus imports all of its vehicles
sold in China, from Japan.
BEIJING (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) plans to make and sell hybrid versions of its Corolla and Levin sedans in China next year, fitting them with locally-made components, in its first bid to entirely manufacture gas-electric hybrids outside Japan.
The backdrop to Toyota’s plans are efforts by foreign and domestic automakers to kick-start sales of hybrid cars in China, as the world’s largest auto market warms to the vehicles in its efforts to cut pollution and reliance on fossil fuels.
TOYOTA CITY, Japan/TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) is set to post record growth for the year just ended – with a likely $10 billion surge in operating profit – but the mood at its HQ in Japan’s prosperous automotive heartland is cautious as executives warn of a leaner year ahead.
Japan’s most valuable listed company is shifting to a new phase of much slower but more stable growth, senior executives said, as the burst of gains from a weak yen and Prime Minister Shinzo Abe’s stimulus policies fades.
TOKYO, April 10 (Reuters) – Toyota Motor Corp is
introducing a new series of engines that will boost vehicle fuel
efficiency by at least 10 percent, as carmakers strive to
improve performance against a backdrop of rising fuel costs and
tighter emissions controls.
Toyota will introduce 14 engine models in the new series
over the next two years, starting off with 1.0 litre and 1.3
litre gasoline engines, it said in a statement on Thursday.
TOKYO, March 31 (Reuters) – Japan’s Mitsubishi Motors Corp
said it has bought the site of a former auto plant in
the Philippines from Ford Motor Co, beefing up production
as it targets a near-50 percent sales boost in fast-growing
Southeast Asia markets.
Mitsubishi Motors, the second-biggest automaker in the
Philippines by sales volume after Toyota Motor Corp,
said on Monday it will centre its Philippines production at the
plant in Laguna from January 2015. The plant will have an annual
capacity of about 50,000 vehicles, gradually rising to around
TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) will buy back up to 1.89 percent of its shares worth up to 360 billion yen ($3.5 billion) in what would be the automaker’s biggest buyback in more than a decade.
Toyota, expecting record profits for the financial year ending March 31, is returning cash to shareholders and boosting its return on equity after its cash pile expanded to 1.8 trillion yen as of end-December.
PARIS/TOKYO, March 17 (Reuters) – Renault and
Japanese alliance partner Nissan unveiled their boldest
steps yet to combine key operations and pursue economies of
scale to rival auto giants like Volkswagen.
The creation of an alliance management team was among moves
announced by Renault-Nissan boss Carlos Ghosn on Monday after 15
years of looser cooperaton between the carmakers.
PARIS/TOKYO, March 17 (Reuters) – Renault and
alliance partner Nissan unveiled plans on Monday to
integrate key operations and pursue economies of scale to keep
up with big rivals like Volkswagen.
The creation of a new alliance management team was among the
steps announced by Renault-Nissan boss Carlos Ghosn after 15
years of softly-softly cooperaton between the French and