Toyota's Comeback Gains Momentum
Toyota's quarterly profit more than doubled in its latest quarter as cost cuts and better sales worked with a weakening yen to add momentum to the automaker's comeback.
Toyota's quarterly profit more than doubled in its latest quarter as cost cuts and better sales worked with a weakening yen to add momentum to the automaker's comeback.
Toyota's global sales of gasoline-electric hybrid vehicles have surpassed 5 million in a milestone for a technology that was initially greeted with skepticism.
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Toyota's recent recall woes may have pushed its U.S. sales lower during the past year, but they haven't stopped one popular model from setting a new milestone: The fuel-efficient Toyota Prius hybrid recently surpassed 1 million sales in the U.S.
Japan's markets got a slight reprieve today as the yen slipped a bit after hitting a record high yesterday. While the lower value helped exporters recover from severe losses earlier in the trading session, the country has a long way to go before confidence in its economy's resilience is restored.
Toyota has sold 3 million hybrid vehicles since launching the Prius in 1997.
Billions of dollars of electricity is wasted annually by inefficient power-conversion systems. But a fledgling company called Transphorm believes its technology can cut electric bills significantly -- and hike mileage for hybrid electric cars and boost output flowing from solar panels.
The carmaker hoped findings from two federal studies would put to rest speculation about its electronics system as a source for unintended acceleration. But the results may not prove enough to give Toyota a leg up in its ongoing legal battles.
In the State of the Union address in January, President Barack Obama set a goal of getting 1 million electric cars on the road by 2015. Now he's proposed $7,500 rebates, instead of tax credits, to reach that goal. Will that be enough to make it doable?
The Japanese automaker's bottom line is likely to have been hit by its many safety recalls, weaker U.S. sales and Japan's rising currency. Analysts forecast Toyota will report a quarterly profit of about $1 billion on sales of $56.2 billion.
Zipcar members in San Francisco, Portland and Boston can try out Toyota's Prius plug-in hybrid, providing valuable info to Toyota before rolling the cars out to consumers in 2012. And Zipcar gets another way to make its greenhouse-gas- conscious customers happy.
Toyota managed to hold onto the title of world's No. 1 automaker last year, despite numerous safety recalls that took a toll on its sales. Toyota sold 8.42 million vehicles worldwide in 2010, enough to barely edge out resurgent General Motors, which rang up sales of 8.39 million.














