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☆ Toyota profit to rise but eyes will be on its shaky supply chain, EV strategy
▼ + stars: | 2022-10-31 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +3 min

TOKYO, Oct 31 (Reuters) - Toyota Motor Corp (7203.T) is expected to report a small quarterly profit increase on Tuesday, with soaring costs of parts and materials nearly offsetting the benefits from the plunging Japanese yen and a rebound in production. Toyota warned earlier this month that it is unlikely to meet its 9.7 million vehicle production goal for this financial year due to a scarcity of chips. It will be the first profit increase in three quarters and mark a big improvement from a sharper-than-expected 42% plunge in June quarter profit, partly helped by the yen which has further extended its loss. Toyota estimated in August material cost for the full year to be 1.7 trillion yen, a 17% increase. Just a year into its $38 billion EV plan, Toyota is already considering rebooting it to better compete in a market growing beyond its projections, Reuters reported this month.

A 12.4% decline in auto-related production - the sector's steepest fall in eight months - drove down the overall index. Manufacturers surveyed by the Ministry of Economy, Trade and Industry (METI) expected output to fall another 0.4% in October and rise 0.8% in November. "Rather, with rising procurement costs on the weak yen, coupled with (higher) energy prices, some firms have voiced concerns for their business conditions." Separate data showed retail sales rose 4.5% year-on-year in September, extending a rebound since March when the government ended domestic COVID-19 containment measures. On a seasonally adjusted month-on-month basis, retail sales grew 1.1% in September, rising for a third month.

☆ Toyota says quarterly output up 30%, but parts shortages continue
▼ + stars: | 2022-10-28 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +2 min

TOKYO, Oct 28 (Reuters) - Toyota Motor Corp on Friday said global production climbed 30% in the quarter ended in September, but warned the shortages of semiconductors and other parts that have roiled the auto industry would still constrain output in coming months. In the July to September quarter, global sales were up 4%, according to a Reuters calculation based on the company's disclosures. The announcement came a week after Toyota said it was unlikely to meet its 9.7 million vehicle production goal for this financial year due to a scarcity of chips. The spokesperson declined to comment on a new production target. Shortages of semiconductors have hit Toyota's production in Japan harder than its overseas factories, Toyota said.

☆ Toyota supplier Denso posts 76% rise in Q2 profit
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Oct 28 (Reuters) - Denso Corp (6902.T), Toyota Motor Corp's major supplier, reported a 76% rise in second-quarter operating profit on Friday, missing analysts' estimates. It posted 91.8 billion yen ($626.5 million) in operating profit for the three months to end-September, versus an average 120.48 billion yen profit estimated by five analysts, according to Refinitiv data. A year earlier, the company earned 52.1 billion yen in profit. The company specialising in vehicle air conditioning, power trains and automated driving systems stuck to its already downgraded full-year operating profit forecast of 480 billion yen for the year ending March 31. That compares with a 211 billion yen average forecast by 21 analysts.

☆ Down on chips, Toyota goes back to basics with car keys
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Oct 27 (Reuters) - Toyota Motor Corp has discovered that even keys can be too "smart" for their own good. "As the shortage of semiconductors continues, this is a provisional measure aimed at delivering cars to customers as quickly as possible," Toyota said in a statement, apologising for the inconvenience. "As for the second smart key, we plan to hand it over as soon as it is ready," it added. A global chips shortage has caused a severe delay in car production and shipments, with many buyers having to wait years to get theirs delivered. Toyota has been hit particularly hard this year, with natural disasters and other disruptions adding to their troubles.

☆ Toyota considers sharp boost in output of first EV, but not before 2025, sources say
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Oct 26 (Reuters) - Toyota is considering a sharp increase in production of its first mass-market battery-electric vehicle from 2025, according to three people with knowledge of the developing plans, ramping up output of the vehicle amid a broader strategy rethink. The car is produced at Toyota Motor Corp's Motomachi plant near its headquarters on a shared assembly line with gasoline cars and hybrids. Both the current and potential production numbers include those of the Subaru Corp Solterra, which is made on the same platform. The increase would see Toyota add production at another plant near its headquarters, the Takaoka factory, said the three people, all of whom spoke on condition of anonymity because the information was not public. Reporting by Maki Shiraki; Writing by Kevin Krolicki; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

☆ Toyota slashes leasing fee for troubled EV to rekindle orders
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +3 min

[1/2] A worker prepares 2023 Toyota Electric bZ4X at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. Starting Wednesday, the application fee is 385,000 yen while the monthly cost is 1,100 yen cheaper. Those who signed up beforehand are eligible for a discount, said Shinya Kotera, president of KINTO, the Toyota unit offering the leases. Just a year into its $38 billion EV plan, Toyota is already considering starting again to better compete in a market growing beyond the automaker's projections, Reuters reported on Monday. ($1 = 148.7900 yen)Reporting by Satoshi Sugiyama and Maki Shiraki; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Automakers to double spending on EVs, batteries to $1.2 trillion by 2030
▼ + stars: | 2022-10-25 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

To put the figure in context, Alphabet (GOOGL.O), the parent company of Google and Waymo, has a market cap of $1.3 trillion. Automakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production, according to the analysis. To support that unprecedented level of EVs, carmakers and their battery partners are planning to install 5.8 terawatt-hours of battery production capacity by 2030, according to data from Benchmark Mineral Intelligence and the manufacturers. Japan's Toyota Motor Corp (7203.T) is investing $70 billion to electrify vehicles and produce more batteries, and expects to sell at least 3.5 million battery electric models (BEVs) in 2030. It plans at least 30 different BEVs and expects to transition the entire Lexus range to battery electric over that span.

☆ Toyota to produce electric car powered by BYD batteries in China
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Oct 24 (Reuters) - Toyota Motor Corp (7203.T) announced on Monday the launch of a small electric sedan, which will be powered by BYD Co (002594.SZ) batteries and will be produced and sold in China. The Japanese automaker said the car would be called the Toyota bZ3. It is the second model in the new Beyond Zero (bZ) series of battery electric vehicles (BEVs) from Toyota, which has been criticised by activists and green investors for not embracing BEVs quickly enough. The bZ3 was developed jointly by Toyota and BYD, Toyota said on Monday. Register now for FREE unlimited access to Reuters.com RegisterReporting by Norihiko Shirouzu and Ella Cao Editing by David Goodman and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Archer Aviation plans to build 250 air taxis in 2025
▼ + stars: | 2022-10-24 | by ( Aishwarya Nair | ) www.reuters.com time to read: +2 min

Adam Goldstein (R) and Brett Adcock, co-founders and co-CEOs of flying taxi company Archer Aviation, pose for a picture as they rehearse for the unveiling of their all-electric aircraft from a facility in Hawthorne, California, U.S. June 8, 2021. REUTERS/Mike BlakeOct 24 (Reuters) - Archer Aviation Inc (ACHR.N) said it aims to make about 250 battery-electric air taxis in 2025 and scale up production in the following years, after setting a goal of getting its aircraft certified by the end of 2024. "In our first year, we will build 250 aircraft, our second year will build 500 aircraft, our third year will build 650 aircraft and then we scale it up to around 2,000 aircraft per year," CEO Adam Goldstein told Reuters in an interview. Archer aims to certify its pilot-plus-four-passenger aircraft, 'Midnight', by end-2024, though the U.S. Federal Aviation Administration (FAA) is still in the process of drawing up certification rules for these futuristic aircraft. Register now for FREE unlimited access to Reuters.com Register"In terms of aircraft production, we have estimated in our Archer model ~20 units in 2025," JPM analyst Bill Peterson said.

"The impact of the Inflation Reduction Act on Hyundai's EV sales in the U.S. market seems inevitable as EV incentives are the key factor to U.S. EV shoppers," Lee Jae-il, an analyst at Eugene Investment & Securities. In a mixed outlook, Hyundai raised on Monday its full-year revenue growth forecast range by six percentage points to 19-20% from its previous estimate in January. Reuters GraphicsThe provision, announced last week, amounted to more than half of estimated third-quarter net profit of 2.4 trillion won drawn from 17 analysts. Revenue for the quarter jumped 31% to 37.7 trillion won, above the 36 trillion won analysts had expected. But overall vehicle supply remains tight globally due to the chip shortage and COVID-related restrictions.

But in a mixed outlook, the company slashed its 2022 vehicle sales forecast by 7% to 4.01 million, as the auto industry struggles with supply chain disruptions involving chips and other components. Despite that upheaval, the company raised its full-year revenue growth forecast range by six percentage points to 19-20% from its previous estimate in January. The provision, announced last week, amounted to more than half of estimated third-quarter net profit of 2.4 trillion won drawn from 17 analysts. Revenue for the quarter jumped 31% to 37.7 trillion won, below the 36 trillion won analysts had expected. But overall vehicle supply remains tight globally due to the chip shortage and COVID-related restrictions.

☆ EXCLUSIVE Automakers to double spending on EVs, batteries to $1.2 trillion by 2030
▼ + stars: | 2022-10-21 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterAutomakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production, according to the analysis. To support that unprecedented level of EVs, carmakers and their battery partners are planning to install 5.8 terawatt-hours of battery production capacity by 2030, according to data from Benchmark Mineral Intelligence and the manufacturers. Leading the charge is Tesla (TSLA.O), where Chief Executive Elon Musk has outlined an audacious plan to build 20 million EVs in 2030, requiring an estimated 3 terawatt-hours of batteries. Japan's Toyota Motor Corp (7203.T) is investing $70 billion to electrify vehicles and produce more batteries, and expects to sell at least 3.5 million battery electric models (BEVs) in 2030. It plans at least 30 different BEVs and expects to transition the entire Lexus range to battery electric over that span.

☆ Toyota expects to cut full-year output target due to chip shortage
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. The Japanese company has been under scrutiny over whether it can stick to its annual production target of a record 9.7 million vehicles after it missed interim goals in the first four months of the fiscal year that began in April. A revised target will be disclosed once the outlook for production becomes clearer, a Toyota spokesperson said. It has slashed its global production target for the last financial year three times, reducing it from 9.3 million in May 2021 to 8.5 million in February. It ended up producing about 8.6 million vehicles in the last financial year to March 31.

☆ The world's biggest automaker said it will make fewer cars than expected this year due to the global semiconductor shortage
▼ + stars: | 2022-10-21 | by ( Stephen Jones | ) www.businessinsider.com time to read: +3 min

Toyota said it will make fewer cars than the 9.7 million it had expected to make this year. Toyota previously said it expected to make 9.7 million cars during the 2023 financial year, however as a result of the plan it now expected output to be lower. The company did not say how far short it expects production to be. In late September, the company said that similar parts shortages would shave 50,000 vehicles from its schedule in October. Toyota — which produces globally recognizable models like the Prius — sold 10.5 million vehicles in 2021, 1.6 million ahead of next-placed Volkswagen, per Reuters.

☆ Toyota-backed flying car firm Joby seeks Japan air certification
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Oct 18 (Reuters) - Joby Aviation Inc (JOBY.N), a U.S. air taxi startup backed by Japanese automaker Toyota Motor Corp (7203.T), said on Tuesday it has applied to Japan's transport ministry for aircraft certification as it prepares to launch urban transportation services. Joby, in which Toyota has invested $394 million, designs and builds all-electric vertical take-off and landing (eVTOL) aircraft. The startup in May received certification from the U.S. Federal Aviation Administration (FAA) allowing it to begin commercial air-taxi operations with conventional aircraft. The California-based startup has more regulatory hurdles to clear in the United States before its five-seater eVTOL aircraft can fly passengers. Register now for FREE unlimited access to Reuters.com RegisterReporting by Mariko Katsumura; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Toyota Starts Plant in Junta-Led Myanmar Making 1 to 2 Cars a Day
▼ + stars: | 2022-10-12 | by ( River Davis | ) www.wsj.com time to read: 1 min

A Toyota Hilux moving down a production line in South Africa; the car maker said in 2019 it planned to build around 2,500 of the pickup trucks in Myanmar annually. TOKYO— Toyota Motor Corp. said it has begun producing cars at a new plant in Myanmar that had been on hold after the country’s military seized power in a coup last year. Toyota began assembling one or two cars a day at its plant in Yangon last month, a spokeswoman for the Japanese auto maker said Wednesday. She said Toyota wanted to contribute to the industrial development of Myanmar and the livelihood of local employees and their families.

☆ Toyota opens new Myanmar plant put on hold following coup
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Oct 12 (Reuters) - Toyota Motor Corp (7203.T) said on Wednesday it had begun assembling cars at a new plant in Myanmar that was put on hold for more than 19 months after a military coup and during the coronavirus pandemic. Japanese companies and other multinationals have faced pressure to pull out of investments in Myanmar that are perceived to benefit the military. Human Rights Watch, a leading advocacy group, called for Toyota and any other companies seeking to invest or resume operation in Myanmar to conduct human rights due diligence. "Toyota should certainly refrain from doing business with Myanmar military owned conglomerates ... as well as their subsidiaries," said Teppei Kasai, the organisation's Asia programme officer. The Toyota plant is in the Thilawa Special Economic Zone, a manufacturing and logistics hub outside the business hub of Yangon built with Japanese investment.

☆ Toyota begins production at Myanmar plant hit by coup
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Oct 12 (Reuters) - Japan's Toyota Motor Corp (7203.T) has begun production at a plant in Myanmar whose launch was delayed by a military coup, the company said on Wednesday. In a statement, the automaker said production began in September, with one to two units a day. The assembly plant near Yangon was supposed to start operation in February 2021 but was delayed by the coup, it added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Satoshi Sugiyama; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

NEW DELHI, Oct 11 (Reuters) - Toyota Motor Corp (7203.T) on Tuesday unveiled its flex fuel hybrid sedan in India, kicking off a pilot project in a market where the government is pushing automakers to switch to clean fuels. The sedan, built by Toyota's local unit Toyota Kirloskar Motor, will be powered by flex fuel technology, which allows the engine to run on fuel blended with a higher percentage of ethanol, reducing the consumption of gasoline along with a hybrid powertrain. India, which is a major producer of sugar, is keen to boost its usage of ethanol, like bigger producer Brazil where sale of flex fuel vehicles is already popular. The objective of the pilot is to see how the car operates in India and increase awareness of the technology. Register now for FREE unlimited access to Reuters.com RegisterReporting by Tanvi Mehta, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ Toyota global vehicle output rises 44.3% in Aug to record for month
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +3 min

TOKYO, Sept 29 (Reuters) - Toyota Motor Corp (7203.T) said on Thursday its global vehicle production grew at a record pace for the month of August, as the sector recovered from the COVID-19 pandemic and production capacity increased, mainly overseas. Vehicle production soared 44.3% in August year-on-year, the first increase since March. The world's largest automaker by sales produced 766,683 vehicles worldwide last month, above its target of around 700,000 and above year-ago output of 531,448. Still, Toyota said the outlook remained uncertain due to the global chips shortage and COVID-19 outbreaks. Last week, the company said it plans to produce about 800,000 vehicles worldwide in October, about 100,000 short of its average monthly production plan, due to semiconductor shortages.

☆ Toyota global vehicle production up 44.3% in Aug, record for that month
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Sept 29 (Reuters) - Toyota Motor Corp (7203.T) said on Thursday global vehicle production grew at a record pace for the month of August, as the sector recovered from the COVID-19 pandemic and production capacity increased, mainly overseas. Vehicle production soared 44.3% in August year-on-year, the first increase since March. The world's largest automaker by sales produced 766,683 vehicles worldwide last month, above its target of around 700,000 and above the year-ago output of 531,448. Register now for FREE unlimited access to Reuters.com RegisterOutput increased mainly overseas in August, with domestic production up 5.6% year-on-year and overseas production jumping by 65.1% from a year ago, also a record rise for the month of August. Overseas sales also hit a record for the month of August, driven by a rebound from a decline in sales last year due to coronavirus outbreaks in China and the rest of Asia.

☆ Toyota to start selling small electric sedan in China by year-end - sources
▼ + stars: | 2022-09-28 | by ( Norihiko Shirouzu | ) www.reuters.com time to read: +2 min

The first bZ car - the bZ4X sport-utility vehicle - was to hit the market in China earlier this year, but a global recall of the car forced Toyota to suspend production of the model globally. The car is roughly the same size as Toyota's Corolla model but with a bigger back-seat section, the sources said. There are no plans for Toyota's other joint venture with GAC Motor to produce the bZ3, the three sources said. Toyota has long advocated a small car that does not compromise on comfort as the best way to popularise BEVs, but it has struggled to produce one. The bZ3's smaller sedan configuration has become feasible chiefly because of BYD's thinner lithium-iron-phosphate (LFP) Blade battery technology.

☆ Sollers in talks to buy Mazda out of Russian joint venture
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterEmployees work on the production line of the CX-5 model car at the Mazda Sollers Manufacturing Rus joint venture plant of Sollers and Japanese Mazda in Vladivostok, Russia September 10, 2018. Valery Sharifulin/TASS Host Photo Agency/Pool via REUTERS/File PhotoSummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Sept 26 (Reuters) - Russian automaker Sollers (SVAV.MM) is in talks with Mazda Motor Corp (7261.T) about buying the Japanese company's stake in their Russian joint venture, Sollers said on Monday, as Mazda prepares to wind down operations in Russia. The Nikkei newspaper on Saturday first reported the talks with Sollers. Sollers said it was in talks with Mazda over stopping car production in Vladivostok and on buying out Mazda's stake in the venture. A Mazda spokesperson said the company was discussing ending vehicle production in Vladivostok, without giving details.

☆ Mazda discussing ending production in Russia - Nikkei
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA Mazda logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre AlbouyTOKYO, Sept 24 (Reuters) - Japan's Mazda Motor Corp (7261.T) is discussing ending production of its vehicles at a joint venture plant in Vladivostok, eastern Russia, the Nikkei newspaper reported on Saturday. Mazda has not made a decision about ending car sales and maintenance operations in Russia, the newspaper said. Register now for FREE unlimited access to Reuters.com RegisterA Mazda spokesperson was not immediately available for comment. Register now for FREE unlimited access to Reuters.com RegisterReporting by Satoshi Sugiyama; editing by Clelia OzielOur Standards: The Thomson Reuters Trust Principles.

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