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Posts Tagged ‘toyota sales’

Toyota Earnings Tumble on Weak Yen

“No immediate plan” to shift production from Japan to U.S.

by on Feb.06, 2017

Strong demand for light trucks like the RAV4 propped up Toyota's sales in the U.S.

A strong yen translated into weaker earnings for Toyota Motor Corp. during the fiscal third quarter, with the impact likely to continue in the months to come, the company anticipating a 26% decline in its net profit for the year ending March 31.

Separately, Toyota officials told reporters that despite comments by CEO Akio Toyoda last month that the automaker will add more jobs in the U.S., there are “no immediate plans” to curb production at Toyota’s factories in Japan which produce about 3 million vehicles annually, many of them bound for America.

Breaking News!

Toyota’s earnings could have slipped even further had it not engaged in aggressive cost-cutting, Managing Officer Tetsuya Otake told reporters during a conference call. Nonetheless, the problem will continue, he said, noting, “We’ve revised our full-year yen forecast to 107 yen to the U.S. dollar from 103 yen, which is the biggest contributing factor to our profit forecast revision.”

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Some Up, Some Down as Automakers Report January Sales

Strong consumer confidence yields record for Hyundai, but numbers slump at GM, Ford and Toyota.

by on Feb.01, 2017

Dusting the competition: Ford was down overall, but had a spectacular month for F-Series.

After a robust finish to 2016, new vehicle sales slowed in January, though generally remained healthy enough overall to boost confidence for the coming year.

There has been concern within the industry that 2016 brought a peak to the automotive recovery, with analyst and industry planners watching to see if and when things would begin to cool off. The good news they got was that, with a few exceptions, the new car market appeared to do better than initially forecast – and not only were sales relatively solid but consumers continued buying more expensive products.

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The numbers were decidedly mixed, industry giants General Motors, Toyota and Ford all reporting year-over-year declines for January. But Nissan’s sales were up for the month, and a number of automakers scored new sales records, including Hyundai, Audi and Nissan’s luxury arm Infiniti. Auto industry analysts had been anticipating declines of anywhere from 0.7% to 2.7% — according to TrueCar and KelleyBlueBook, respectively. But even for many of those makers who did suffer sales dips in January, the news wasn’t all bad.

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Toyota Likely to Lose Global Sales Crown

VW in position to take the lead despite diesel woes.

by on Dec.29, 2016

Despite its diesel woes, VW should nab the global sales lead for 2016 from Toyota.

When the final 2016 numbers are totaled next month, Volkswagen AG seems well-positioned to topple the automotive king-of-the-hill, replacing Japan’s Toyota Motor Co. as the world’s best-selling automaker, according to year-to-date sales figures and preliminary estimates for December.

Toyota has been the world’s largest automaker, in terms of sales, for the past four years, and five out of the last six – briefly losing its crown to General Motors following the devastating earthquake and tsunami that hit Japan in 2011.

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For the first 11 months of this year, it has lagged behind VW and, “Unless Toyota has a remarkable December, it will lose its No. 1 status,” the Japan Times observed this week.

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Auto Market Likely to Maintain Near-Record Momentum

But shift to utes could accelerate, forecasts Toyota autos chief.

by on Dec.02, 2016

The Toyota RAV4 may soon be Toyota's best-seller.

After several tenuous months, U.S. new car sales slipped back on their record track in November, and while it’s likely the industry has hit the peak of the current economic cycle, demand is likely to remain strong for several more years, forecast the U.S. head of automotive operations for Toyota.

What consumers will be buying is another matter, according to Senior Vice President Bob Carter, who stressed that the shift from conventional passenger cars to utility vehicles and other light trucks “is going to continue to accelerate in the future.”

Barring a sudden slowdown of the American market, sales should just nip past last year’s all-time record of around 17.5 million, said Carter, during a meeting with journalists in Detroit. “By anyone’s estimation,” he said, “that’s fantastic.”

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Toyota Tumbles; Operating Profits Plunge 43%

Weakness in North America, currency shifts hammer Japanese giant.

by on Nov.08, 2016

The new C-HR could be a critical addition for Toyota.

Toyota Motor Corp.’s operating profit earnings took a 43% plunge during the July to September quarter, the world’s largest automaker struggling in the face of numerous headwinds. Net income, meanwhile, slid 36% for the quarter.

The growing strength of the yen was one problem for the Japanese giant. But the automaker also faced challenges in North America where the overall automotive market is slipping after the strongest recovery in history. Complicating matters, Toyota has been overly dependent on lower-profit passenger cars, such as the Camry and Corolla, as higher-margin trucks have been gaining momentum.

Earnings News!

“Supply has not kept up with demand” for more profitable models like the Toyota RAV4 and Highlander utility vehicles, acknowledged Executive Vice President Takahiko Ijichi, something that has led Toyota to trim its outlook for North America for the rest of the fiscal year ending March 31, 2017.

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Toyota Earnings Slip; Company Cuts Forecast

Strong yen, production problems, sliding margins take a toll.

by on Aug.04, 2016

Toyota CEO Akio Toyoda faces pressure to cut costs even as the maker invests in new products.

Snagged by a strong yen, tepid sales and supplier problems, Toyota Motor Corp. delivered a weak profit for the latest quarter, the Japanese giant also warning that the current fiscal year could be its weakest in nearly half a decade.

Toyota, whose global sales slipped behind rival Volkswagen AG for the first half of this year, said it earned $5.1 billion for the April-June quarter, the first in its new fiscal year. That was a decline of 14.5%. Operating earnings, meanwhile, were off 15%, to $5.9 billion.

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By the Numbers!

Net revenues also declined 5.7%, to $60.9 billion, despite a modest 1% increase in global vehicle sales. The maker sold 2.53 million cars, trucks and crossovers for the quarter, but that number was short of expectations due to a series of natural and man-made disasters that impacted production in Toyota’s home market plants.

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Another Surprise: VW Lands in Global Sales Lead Despite Diesel Drop

Toyota slips to second after production problems.

by on Jul.29, 2016

VW hopes to keep momentum building - despite its diesel woes - with new products like the Alltrack.

A day after reporting a sharp drop in second-quarter earnings, embattled German automaker Volkswagen AG got some good news. Despite its ongoing diesel emissions problems, VW is once again the world’s best-selling automaker – albeit because of a series of unexpected production problems that have been hobbling Japanese giant Toyota in recent months.

Hit by both natural and man-made disasters, Toyota has repeatedly been forced to trim home market production, and the result was a global slide of 0.6% in sales for the first half of 2016, to 4.992 million vehicles. A year earlier, the automaker sold 5.021 million Toyota, Lexus and Daihatsu-branded vehicles from January through June.

By the Numbers!

Though sales have been down in some markets, notably including the U.S., where it can’t sell its once-popular diesel models, VW managed to deliver 5.116 million cars, trucks and crossovers for the first half of this year, a 1.5% increase.

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Toyota Earnings Up – But Outlook Bleak Going Forward

Japanese giant forecasts 35% profit plunge for current fiscal year.

by on May.11, 2016

Toyota's record earnings were overshadowed by some serious concerns going forward.

Even while celebrating yet another record annual profit officials at Toyota Motor Corp. put a bleak face on, warning that profits for the current fiscal year are likely to fall by 35% or more.

The auto industry’s sales leader expects to be hit hard by the growing strength of the Japanese yen. And it also could feel the brunt of plant closures and cutbacks caused by the damaging earthquake that hit the southwestern part of the country last month.

In the Know!

The automaker had been able to drive profits to record levels three years in a row largely due to the “tailwind” of a weak yen said Toyota President and CEO Akio Toyoda. “Since the start of the year, the tide has changed,” he added.

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Despite Diesel Dilemma, VW Snatches Global Sales Lead from Toyota

Toyota loses momentum due to production snags.

by on Apr.27, 2016

Despite some serious problems, VW could retain the sales lead during the second quarter.

It’s had to suspend sales of its popular diesels in the U.S. market, and it’s already taken an $18 billion hit in the wake of its ongoing diesel emissions scandal, but not all is doom-and-gloom for Volkswagen AG.

The embattled automaker can celebrate the fact that it surged into the global sales lead for the first quarter of 2016, narrowly squeaking by Japanese giant Toyota which has had its own problems in recent months. General Motors continued to hold down the third spot in the global sales sweepstakes.

In the Know!

Whether VW can hold the lead for the rest of the year is far from certain. It was, in fact, the top-seller for the first half of 2016, only to slip behind Toyota once again as the diesel disaster began to take its toll. But wildcard factors have a way of upsetting the industry’s apple cart, and Toyota is currently dealing with problems that will likely scuttle its chances of regaining the sales crown for at least another quarter.

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Toyota Quarterly Earnings Top $5.4 Billion

Net income jumps 5% despite flat sales.

by on Feb.05, 2016

Toyota CEO Akio Toyoda unveils the new Lexus LC 500 at last month's Detroit Auto Show.

Toyota managed to pull together a 5% jump in net profits for the third quarter of its fiscal year, despite a tepid global economy and relatively flat sales.

The automaker announced it made 627.9 billion yen, or $5.4 billion, during the October-December period, up from 600 billion yen the year before. Quarterly sales and revenues were up a more modest 2.4%, to $62.7 billion. A weak yen played in Toyota’s favor.

By the Numbers!

The news came two days after rival General Motors reported record earnings of $9.7 billion – for the full fiscal year. Meanwhile, he world’s second-largest automaker, Volkswagen AG, said on Friday it would delay issuing its fourth-quarter and full-year earnings as it struggles to account for the impact of its ongoing diesel emissions cheating scandal.

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