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Latest Toyota Motor Corp. Stories

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2009-03-17 15:50:00

Car companies are finding it hard to sell hybrid models in the midst of the recession. The economic crisis has caused many Americans to cut back on spending and that has amounted to a decreased demand for new vehicles, especially hybrids. In April, hybrid sales reached their highest mark. Gas prices reached an average of $3.57 a gallon during the same month. Last summer, increased gas prices drove demand for hybrids, but now that fuel prices have fallen dramatically, consumers are overlooking...

2009-02-13 07:53:32

Toyota Motor Corp. said it would offer job buyouts to U.S. workers to cut costs, a first for the Japanese automaker. The company also said it would trim production in some U.S. factories by 10 percent, cut executive pay and eliminate bonuses for 3,000 salaried workers, The Wall Street Journal reported Friday. We are taking every measure we can to protect employment, company spokesman Mike Goss said. Toyota has been paying U.S. workers for full shifts that are running at about half speed to...

2009-02-06 07:35:40

Toyota Motor Corp. in Japan revised its forecast for its fiscal year ending in March down sharply Friday, tripling its previous loss estimate. Toyota said it expects it will lose $5 billion on the year, The New York Times reported. In December, the company estimated losses of $1.6 billion, a sharp turnaround from the previous year's gain of $28 billion and the first annual loss since the company began in 1937. The company said it was hit hard by slumping sales, especially in North America,...

2009-02-05 13:12:40

Toyota Motor Corp. said Thursday that it would keep one production line in operation as it shuts down the rest of its Japanese factories for a day. CNNMoney reported the silence was "¦ deafening in Toyota City, where the company began in the 1930s. I don't know what to do. I could go back to my hometown, but there are no jobs there, either, assembly worker Takayuki Yoshikawa, who lives in a company-owned dormitory, told CNNMoney. Toyota is planning on 10 additional recession-driven...

2009-01-28 23:43:20

Toyota Motor Corp. is recalling more than 1.35 million vehicles worldwide due to faulty seat belts and exhaust pipe defects, the Japanese company said. ChannelNewsAsia.com reported Wednesday that affected models are the Belta, Ractis and Vitz models, all assembled in Japan. Toyota's Asia-Pacific's general manager of external affairs, Enomoto Masato, said the models the company sells in Singapore are not affected as they are assembled in Thailand. Toyota said it was also recalling 830,000...

2009-01-18 10:45:33

Toyota Motor Corp. will slash domestic Japanese automobile production by half between February and April, industry sources say. With the cutbacks, Toyota's production would be set at about 9,000 units per operating day, Japan's Kyodo news agency reported Sunday. The automaker's drastic plan comes on the heels of a decision to idle 11 of its 12 Japanese factories for 14 days each to deal with plummeting sales and a deepening global recession. The production slashes are likely to lead to...

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2009-01-14 13:08:50

Toyota Motor Corp.'s new hybrid Prius, unveiled at a Detroit auto show, will get 9 percent better mileage than its predecessor, the company said. Thanks to a more efficient engine and lighter parts, the third-generation Prius will get 50 miles per gallon, the Chicago Tribune reported Wednesday. The car's horsepower has also been increased. The older version was rated at 110 hp. The newer version puts out 134 hp. The car also comes with an optional solar roof, which was rumored to be a...

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2009-01-12 07:35:00

Toyota Motor Corp announced its plans to introduce an all-electric plug-in vehicle in the United States by 2012. The company unveiled its FT-EV concept car during the North American International Auto Show in Detroit Sunday alongside its iQ urban commuter car, which runs on a gasoline engine and emits just 99 grams of carbon dioxide per kilometer. Toyota also showed off its Lexus HS250h hybrid sedan and announced plans to sell 1 million hybrids and introduce a redesigned model of the Prius by...

2009-01-09 15:15:10

Toyota Motor Corp. of Japan said a member of the company's founding family would be its next president, giving its current president a vice-chairman post. Akio Toyoda will take over as president in June. Toyota President Katsuaki Watanabe will become vice chairman at that time, while Chairman Fujio Cho will maintain his position, Kyodo News reported Friday. The delay in the switch was calculated to allow blame aimed at Watanabe for the company's poor performance in 2008 to dissipate,...

2008-12-23 06:51:08

Slumping sales have drastically shifted Toyota Motor Corp.'s plans for U.S. production, leaving workers wondering when layoffs will start, observers said. Even Toyota, considered a decisive planner, cannot escape the simple math as U.S. auto sales have trimmed back from a norm of about 16 million a year to less than 12 million, the sales figure projected for 2009, The New York Times reported Tuesday. Workers at Toyota's San Antonio plant have been splitting their work hours between training,...


Word of the Day
bodacious
  • Remarkable; prodigious.
  • Audacious; gutsy.
  • Completely; extremely.
  • Audaciously; boldly.
  • Impressively great in size; enormous; extraordinary.
This word is probably from the dialectal 'boldacious,' a blend of 'bold' and 'audacious.'
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