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☆ Toyota plans to produce 750,000 vehicles globally in February
  + stars: | 2023-01-18 | by ( ) www.reuters.com   time to read: 1 min
TOKYO, Jan 18 (Reuters) - Toyota Motor Corp (7203.T) on Wednesday said it plans to produce about 750,000 vehicles globally in February. The Japanese automaker said it aims to make about 300,000 vehicles domestically and about 450,000 overseas, and that it will continue to monitor the supply of auto parts, including semiconductors. Toyota produced 740,996 vehicles globally in February last year, against a target of around 700,000. Reporting by Satoshi Sugiyama; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.
☆ Japan Inc is finally giving raises, just not to everyone
  + stars: | 2023-01-18 | by ( David Dolan Daniel Leussink | David Dolan | Daniel Leussink | ) www.reuters.com   time to read: +6 min
Yet the small companies that provide most of Japan's jobs generally can't increase pay, business owners, economists and officials say. Battered by the pandemic, small firms now struggle to pass on higher costs out of fear of losing customers. They feel they have no choice but to put up with impossible demands from big companies." The trend is most apparent in industries with many small suppliers. The fair trade watchdog last month named 13 big companies it said refused to accept higher prices from suppliers.
☆ Exclusive: Renault, Geely look to bring Aramco into engine venture - sources
  + stars: | 2023-01-17 | by ( Norihiko Shirouzu Gilles Guillaume | Norihiko Shirouzu | Gilles Guillaume | ) www.reuters.com   time to read: +4 min
According to the document, Aramco's investment would be used to support development of decarbonization technologies for gasoline engines. SUBJECT TO BOARD APPROVALSThe oil company's deal with Geely and Renault still needs approval by the boards of the automakers, one of the people said. For Geely, the deal with Renault extends its pattern of building partnerships to expand beyond China. In that kind of arrangement, gasoline engines could be designed to operate in an "exceptionally efficient mode," one of the sources said. Geely has a previously announced a hybrid gasoline engine development deal with Mercedes-Benz (MBGn.DE) and holds a stake in the German automaker.
☆ Toyota says to produce 10.6 mln vehicles in 2023
  + stars: | 2023-01-16 | by ( ) www.reuters.com   time to read: 1 min
TOKYO, Jan 16 (Reuters) - Toyota Motor Corp (7203.T) on Monday said it expects to produce as many as 10.6 million vehicles this year, while warning of downward risk to its projection if it faces an impact from parts supply shortages. The car giant said that it set a baseline production volume with a downward risk fluctuation range of about 10% if it would encounter shortages in the supply of parts, such as semiconductors. Reporting by Daniel Leussink; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.
☆ Toyota Considers New EV-Dedicated Platform as It Looks to Build Scale
  + stars: | 2023-01-13 | by ( River Davis | ) www.wsj.com   time to read: 1 min
Toyota President Akio Toyoda said Friday EVs needed to be thought of independently. CHIBA, Japan– Toyota Motor Corp. is looking at rolling out a new manufacturing platform designed specifically for electric vehicles, part of revamped efforts to find the formula for making a large number of EVs profitably. The Japanese car company is considering a platform—a common foundation on which various car models can be built—that is different from the one underpinning the auto maker’s current EVs, Toyota President Akio Toyoda said.
☆ Back to the future: Toyota sets sights on old-car upgrades in zero-emissions drive
  + stars: | 2023-01-13 | by ( ) www.reuters.com   time to read: +1 min
[1/5] Toyota Motor Corporation President Akio Toyoda and Toyota's GAZOO Racing Company President Koji Sato attend an event for Toyota GAZOO Racing and LEXUS at Tokyo Auto Salon 2023 at Makuhari Messe in Chiba, east of Tokyo, Japan January 13, 2023. REUTERS/Kim Kyung-HoonCHIBA, Japan, Jan 13 (Reuters) - In an eye-catching bid to show that cars can be clean while appealing to old-school petrolheads, Toyota Motor (7203.T) on Friday showcased zero-emission versions of its 1980s sports range, which still boasts a strong global fan base. Toyota President Akio Toyoda said remodelling existing cars needed to be explored as an option to achieve a goal of zero carbon emissions by 2050. In Japan, only one in about 20 cars on the road are new, and older ones are mainly powered at least partly by gasoline. "It's important to leave a choice for cars that are already loved or owned by someone," Toyoda, a self-confessed car-lover and race-car driver, said at the event.
☆ Indonesia says investment talks with Tesla still ongoing
  + stars: | 2023-01-12 | by ( Bernadette Christina | ) www.reuters.com   time to read: +3 min
Luhut Pandjaitan, who has been leading the talks with Tesla, declined to disclose further details, citing a non-disclosure agreement. Bloomberg News also reported that the Indonesia talks include plans for production facilities and to facilitate the company's supply chain, citing people familiar with the matter. "I can't comment, we're still talking," Luhut told Reuters, adding that he had just recently held another round of talks with Tesla. Tesla currently makes its electric cars in China's Shanghai, Germany's Berlin, and Austin and Fremont in the United States. Indonesian authorities have said Japanese firms Toyota Motor Corp (7203.T) and Mitsubishi Motors Corp (7211.T) have pledged investments in EV production.
☆ Ford reports smaller drop in 2022 U.S. sales as inventory levels improve
  + stars: | 2023-01-05 | by ( ) www.reuters.com   time to read: +1 min
The company sold 1,864,464 vehicles in 2022, down about 2.2%. General Motors Co (GM.N) on Wednesday reclaimed the top spot in U.S. auto sales from Toyota Motor Corp (7203.T) aided by higher inventory levels. Ford said on Thursday it sold 15,617 units of its popular F-150 Lightning electric truck in 2022 after they went on sale earlier in the year. Sales of Ford's SUVs, including models such as the Explorer and Bronco, rose nearly 5% in 2022. Truck sales fell 5.5% in the year, compared with a near 8.0% drop in 2021.
☆ Auto Industry Expected to Post Worst U.S. Sales Year in More Than Decade
  + stars: | 2023-01-04 | by ( Sean Mclain | ) www.wsj.com   time to read: 1 min
The U.S. auto industry is expected to report a decline in overall sales for 2022, a year that was challenging for car companies and buyers alike as supply-chain snarls left dealerships with little inventory to sell. On Wednesday, General Motors Co., Toyota Motor Corp. and other auto makers are scheduled to release their year-end sales results, in the midst of growing concern over an economic slowdown that could further damp demand for cars and trucks and put pressure on profits this year. Ford Motor Co. plans to report its 2022 sales on Thursday.
☆ U.S. auto sales to fall in 2022, GM set to reclaim top spot from Toyota
  + stars: | 2023-01-04 | by ( ) www.reuters.com   time to read: +2 min
Full-year U.S. auto sales are forecast to be about 13.9 million units, down 8% from 2021 and 20% from the peak in 2016, according to industry consultant Cox Automotive. Inventory shortages, caused by surging material costs and persistent chip shortage, spilled into 2022, hobbling production at many automakers. Reuters GraphicsGM's 2022 U.S. sales are set to rise 2.3%, while Toyota's is expected to fall 9%, according to Cox Automotive. Both automakers are set to report sales figures on Wednesday. Some industry observers fret that price hikes by automakers to blunt inflationary pressures and rising interest rates will take a toll on new vehicle sales in the new year.
☆ Tesla shares suffer New Year's hangover on demand worries, delivery issues
  + stars: | 2023-01-03 | by ( Aditya Soni Eva Mathews | Aditya Soni | Eva Mathews | ) www.reuters.com   time to read: +5 min
Tuesday's slide knocked off nearly $50 billion in market value, roughly equal to the valuation of rival Ford Motor Co (F.N), which last year sold three times as many cars as Tesla. The sell-off came after Tesla missed market expectations for fourth-quarter deliveries despite shipping a record number of vehicles. Tesla's market value has declined by about $370 billion since Chief Executive Elon Musk closed the deal to buy social media firm Twitter. Tesla shares biggest loser among Big Tech Tesla shares biggest loser among Big Tech since AprilTesla delivered 405,278 vehicles in the fourth quarter, short of analysts' estimates of 431,117. The gap between production and deliveries has widened to 34,000 vehicles as more cars got stuck in transit.
☆ Tesla shares start 2023 lower on worries over weak demand, logistical issues
  + stars: | 2023-01-03 | by ( ) www.reuters.com   time to read: +1 min
Jan 3 (Reuters) - Tesla Inc (TSLA.O) shares kicked off 2023 with a 5% drop on Tuesday, extending a selloff from last year on growing worries about weakening demand and logistical problems that have hampered deliveries. The latest slide came after the world's most valuable automaker missed estimates for fourth-quarter deliveries despite shipping a record number of vehicles. Shares of the electric-vehicle maker were trading at $117 before the bell, after losing 65% of their market value in 2022, their worst year on record. The company, which had a peak market capitalization of more than $1 trillion, now has a valuation of about $390 billion. That still makes it the world's most valuable automaker, even though its production is a fraction of rivals such as Japan's Toyota Motor Corp (7203.T).
☆ Toyota's Nov global vehicle production rises 1.5% to record 833,104
  + stars: | 2022-12-26 | by ( ) www.reuters.com   time to read: +1 min
TOKYO, Dec 26 (Reuters) - Toyota Motor Corp (7203.T) reported on Monday a 1.5% rise in November global vehicle output, reaching a new record of 833,104. Domestic production slid 3.3% to 266,174 vehicles, while overseas output rose 3.8% to an all-time high of 566,930 for the month. The automaker reported earlier this month it expected to produce 700,000 vehicles in January and held to a reduced goal of 9.2 million in the year through March. read moreThat's still ahead of last year's production of about 8.6 million units. Reporting by Rocky Swift; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.
☆ Japanese homeowners face an unfamiliar headache: higher mortgages
  + stars: | 2022-12-22 | by ( David Dolan Daniel Leussink | David Dolan | Daniel Leussink | ) www.reuters.com   time to read: +4 min
"On Tuesday, all of a sudden I'm hearing the interest rates are going up," said the 48-year-old father of two. Like Nakamura, many Japanese fear they may eventually start paying more for mortgages. "Even a small increase would have a big impact on consumer incomes," said Masaaki Kanno, chief economist at Sony Financial Group and a former central bank official. Fixed-rates are seen rising first, because the central bank allowed 10-year yields to creep up. The company is telling them that floating-rate loans won't be affected as long as the central bank keeps short-term rates negative, he said.
☆ Tesla shares tumble, on track for worst month ever
  + stars: | 2022-12-22 | by ( Noel Randewich | ) www.reuters.com   time to read: +2 min
Dec 22 (Reuters) - Tesla Inc (TSLA.O) shares are on track for their worst month ever as a sell-off deepened on Thursday over worries about softening demand for electric cars and Chief Executive Elon Musk's distraction with Twitter. Tesla's stock has tumbled 36% so far in December, putting it on track for its worst ever monthly performance. By comparison, Tesla's shares dropped 22% in March 2020, when the coronavirus pandemic tipped financial markets into a tailspin. Musk has also sold almost $40 billion worth of his Tesla shares this year, adding to pressure on the stock as investors worry he could sell more to keep Twitter afloat. Tesla's market cap vs analyst price targetsReporting by Noel Randewich; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.
☆ Indonesia considers $320 mln in incentives to boost EV sales in 2023
  + stars: | 2022-12-21 | by ( ) www.reuters.com   time to read: +2 min
President Joko Widodo told the same news conference: "We hope with these incentives, the electric motorcycle and electric car industry will grow". Indonesia targets 20% of overall car sales in 2025 to be EVs, Airlangga said. Companies that have invested or have announced planned investments in EV manufacturing in Indonesia include Toyota Motor Corp (7203.T), Mitsubishi Motors Corp (7211.T) and Hyundai Motor Co (005380.KS). SGMW Motor Indonesia, part of a joint venture of SAIC Motor Corp Ltd (600104.SS), General Motors Co (GM.N) and Wuling Motors Holdings (0305.HK), has an EV assembly facility in the Southeast Asian country. Indonesia has also tried to court U.S. firm Tesla (TSLA.O) to invest to produce not just EV batteries but also cars in the country.
☆ Toyota Chief Says ‘Silent Majority’ Has Doubts About Pursuing Only EVs
  + stars: | 2022-12-18 | by ( River Davis | ) www.wsj.com   time to read: 1 min
‘Because the right answer is still unclear, we shouldn’t limit ourselves to just one option,’ said Toyota Motor President Akio Toyoda. BURIRAM, Thailand— Toyota Motor Corp. President Akio Toyoda said he represented a silent majority of auto-industry people who are questioning whether electric vehicles should be pursued exclusively as the future of cars. “People involved in the auto industry are largely a silent majority,” Mr. Toyoda said Sunday to reporters in Buriram, a small agricultural town 190 miles northeast of Bangkok. “That silent majority is wondering whether EVs are really OK to have as a single option. But they think it’s the trend so they can’t speak out loudly.”
☆ Electric vehicles confront the leap to the mass market
  + stars: | 2022-12-15 | by ( Joseph White | ) www.reuters.com   time to read: +4 min
Industry executives and forecasters do not agree on how rapidly electric vehicles could take over half the global vehicle market, let alone all of it. In China, the world's largest single automotive market, battery electric vehicles have captured about 21% of the market. By 2029, electric vehicles could account for a third of the North American market, and about 26% of vehicles produced worldwide, according to AutoForecast Solutions, a consultancy. Electric vehicle sales likely will not increase in a smooth, ever-ascending curve, said AFS President Joe McCabe. The next few years will determine whether the 21st Century's crop of electric vehicle brands will follow a similar path.
☆ U.S. senator Manchin says Treasury should limit commercial EV tax credit use
  + stars: | 2022-12-13 | by ( David Shepardson | ) www.reuters.com   time to read: +3 min
Senator Joe Manchin, a Democrat who chairs the chamber's energy panel, asked the Treasury Department on Tuesday not to allow a commercial electric vehicle tax credit to be used for consumer leasing, rental cars or ridesharing vehicle sales, rejecting a broad interpretation of the credit. Reuters first reported last week the push by South Korea and some automakers that asked the Treasury Department to allow use of the commercial electric vehicle tax credit to boost consumer EV access as well as for the purchase of ride share and rental car vehicles. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for electric vehicles assembled outside North America, angering South Korea, the European Union, Japan and others. The commercial credit known as "45W" does not, however, have the sourcing restrictions of the consumer credit called "30D." Hyundai (005380.KS) and Kia (000270.KS) want the U.S. Treasury to allow people leasing EVs to benefit from commercial credits and to qualify for up to a $4,000 tax credit for used EVs if they buy vehicles when leases expire.
☆ Exclusive: Toyota to outline 3-year EV plan changes to suppliers
  + stars: | 2022-12-11 | by ( Norihiko Shirouzu | ) www.reuters.com   time to read: +5 min
The leading Japanese automaker is expected to detail the EV plan changes through early 2026, communicating the adjustments to major suppliers, the people said on condition of anonymity as the information is confidential. Toyota is set to convene a major powwow of suppliers in February, the first such global supplier convention since the pandemic. The working group has been charged with outlining plans to improve Toyota's EV approach, including considering a potential successor to its new EV platform, e-TNGA. Toyota has been working with two suppliers Denso (6902.T) and Aisin (7259.T) for its EV reboot. That resulted in a soon-to-be-marketed, China-only Toyota electric sedan called the bZ3, powered by BYD batteries.
☆ China Nov passenger vehicle sales drop 9.5%, first fall in six months - CPCA
  + stars: | 2022-12-08 | by ( ) www.reuters.com   time to read: +3 min
Vehicle sales last month fell 9.5% from a year earlier to 1.67 million units, the first decline since May, according to the China Passenger Car Association (CPCA). The association said it expects passenger vehicle sales to reach 20.6 million units next year, flat from 2022, a forecast more optimistic than some street views. Analysts at China Merchants Bank International expect retail passenger vehicle sales in China, the world's biggest car market, to drop 6% next year due to the expiry of a purchase-tax cut. But the incentives did little to boost vehicle sales in recent months, as many COVID restrictions remained in place. November sales of Toyota Motor Corp (7203.T) in China fell 18.4% from a year ago, while Nissan Motor (7201.T) saw a 52.5% drop in its sales.
☆ Honda to begin selling mini-commercial electric vans in spring 2024
  + stars: | 2022-12-07 | by ( ) www.reuters.com   time to read: +2 min
TOKYO, Dec 7 (Reuters) - Honda Motor Co (7267.T) said on Wednesday it would begin selling micro-sized commercial electric vans in spring 2024, as part of its effort to electrify its vehicle lineups. Japanese automakers are turning to small commercial trucks as one way to make battery electric vehicles (BEVs) popular in the country, tapping into car size unique to the country amid pressure to slash its carbon footprint. Honda's electric van has a target cruising range of 200km (125 miles) and is seeking to set the price at around 1 million yen ($7,270). Commercial vehicle coalition CJPT, led by Toyota Motor Corp (7203.T), said in July it would develop small electric commercial vans with minivehicle specialists Daihatsu and Suzuki Motor Corp (7269.T). Honda in April laid out goals of producing some 2 million electric vehicles a year and 30 electric vehicle models globally by 2030.
☆ Automakers, South Korea urge U.S. to tap commercial EV tax credit
  + stars: | 2022-12-07 | by ( David Shepardson | ) www.reuters.com   time to read: +3 min
Rivian Automotive (RIVN.O), Hyundai Motor (005380.KS) and Kia Corp (000270.KS) among others want the administration to let consumer vehicle leasing qualify for the commercial EV tax credit that could reduce monthly lease payments. South Korea also asked Treasury not to impose any budget restrictions on commercial vehicle tax credits through 2025. The commercial credit does not have the same sourcing or pricing restrictions but has an "incremental cost" eligibility test that might prove complex. Some automakers want Treasury to make it easier to ensure most commercial light-duty vehicles qualify for $7,500 tax credits. Tesla (TSLA.O)said commercial credits "should apply exclusively for commercial end-users" and the consumer tax credit "should apply exclusively for individual end-users."
☆ Toyota offers cheaper Prius if customers take software updates
  + stars: | 2022-12-07 | by ( Satoshi Sugiyama | ) www.reuters.com   time to read: +2 min
The lease program will require customers to opt in for a service expected to bring monthly lease payments down by 10%, Toyota's leasing affiliate said. The service marks the first time Toyota will update its safety features, including the collision avoidance system, for a car on the road, said Shinya Kotera, president of KINTO, the Toyota leaser unit in Japan. Tesla has routinely used over-the-air software updates to improve charging speed on its electric vehicles, unlock additional battery range and fix safety issues. Toyota unveiled the new Prius last month amid criticism from ESG investors and environmental groups for its slow rollout of fully electric vehicles. The leasing unit wants to expand the service to other vehicles within a year or two and is considering plans to make it a global offering, Kotera said.
☆ Tesla launches EVs in Thailand amid competition from cheaper brands
  + stars: | 2022-12-07 | by ( ) www.reuters.com   time to read: +2 min
[1/5] The Tesla Model Y is covered by black cloth during Thailand Tesla's official launch event in Bangkok, Thailand, December 7, 2022. It produces about 1.5 million to 2 million vehicles annually, of which about half are exported. Customers who showed up to Tesla's launch in a luxury mall in central Bangkok said they were interested in the new cars being offered. The price differences aren't significant (from other EV brands)," said office worker Thitipun Paisirikul, 36, adding he expected the re-sale value of the car would be high. State-owned energy firm PTT Group this year announced a $1 billion joint venture with Taiwan's Foxconn to produce EVs in Thailand.
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