The ever rising yen makes Japanese manufacturers flirt with the idea of abandoning the land of the rising sun and to shift production abroad.
“The current situation is very tough,” Toyota President Akio Toyoda told the paper when asked how the strong yen affects Toyota’s business. “But Toyota is a global company that was born in Japan…. We would like to keep working hard in Japan.” Note: “We would like.”
Toyoda did not rule out moving its factories overseas to build models to be sold in Japan. But he added: “I have a strong feeling about manufacturing in Japan and our basic approach is to produce cars where they are sold.”
Lexus changed their mind regarding how a LF-A can be bought. So far, the only way you could purchase it was to sign a lease for two years with zero rates and a residual rate of 228,000 euros.
This time, the LF-A customers will be able to buy a LF-A with a contract that forbids them to sell the car in the first two years without offering the dealer a buy-back option at a price list or at market price – whichever is lower.
Basically, the Lexus reserves the right to buy back any LF-A in the first two years from acquisition, at the lowest between its list price and its market price.
If the owner sells the vehicle without offering a buy-back option to the car dealer, he is forced to return the profit over the price he would received from the car dealer plus all related legal fees.
Lexus dealers hold the right to grant permission to the client to sell the car in the first two years of purchase. All these measures are taken in an attempt to prevent speculators and offer only a limited number of copies to enthusiasts who can afford such a vehicle.
image source: autoblog.com
Toyota’s image still suffers from the massive recall at the beginning of this year. In these circumstances, Akio Toyoda wanted to address to shareholders official apology.
Toyoda has spoken to the people who have invested in the brand’s development, showing his apologies for the many problems caused by the globally recalls.
The timing was an important one, this being the first time when Toyoda met with shareholders face to face after the manufacturer received the bad reputation.
At the end of its speech, Akio wanted to underline that Toyota is making significant efforts in order to improve the quality of its vehicles and also thanked to shareholders for their support during this difficult period.
Image source: Automarket
Heads of both corporations have already expressed their interest in the partnership for the future of motoring.
The collaboration between Toyota and Daimler would be the first project of this scale between the two manufacturers.
Fuel cells use a reaction between oxygen and hydrogen in order to produce electricity in a process that does not emit gases that contributes to the global warming.
Toyota staff estimated that it will go another 10 years before this technology will be offered to the public.
Toyota is investigating the fuel cell technology since 1992, while Daimler made the first steps in this area in 1994.
The German manufacturer has already invested over one billion euros in the project that develops this technology for series production.
Image source: swipelife.com/
Toyota will run on TV, print and online and will include images of workers from the European factories that send a message full of tenderness: “Your Toyota is my Toyota”.
In Toyota’s internal network, the campaign is called “restore the confidence”, each employee will outline the Japanese’s image in the campaign following to describe with his own words how they contribute to the quality of Toyota services.
The campaign will begin in May and will reach all major markets. The total amount invested by the Japanese in order to promote their message is €20 million.
Image source: Automarket
Moreover, the campaign included a two-year free maintenance program to new lessees and purchasers, discount leases, cash rebates, and no-interest financing on most Toyota models.
It seems that the incentives were worth $2568 per vehicle last month, more than double the $1003 the incentives were worth in March 2009.
On the other hand, even if the incentives helped spur a 41-percent improvement in Toyota’s March sales, the Japanese automaker hasn’t completely reversed its fortunes yet.
Rumors say that Toyota has not formally decided on its incentives scheme beyond May 3, but it might need to last into the summer.
Here is a sampling of Toyota’s April incentives:
Avalon — 0% APR financing or $3000 cash back
Camry — 2.9% APR financing on 2011 models, 0% on 2010 models
Corolla — 0% on 2010 models, $159 per month lease for 36 months
RAV4 — 0% on 2010 models for 36 months, $209 per month lease for 36 months
Tacoma — 3.9% on 2010 Double Cab models
Image source: automobilemag.com
These recalls concerns the sold cars in several U.S. states with cooler climates and in Canada, because of the risk of corrosion caused by prolonged exposure to salt thrown on the roads in winter.
Therefore, Toyota will recall 600,000 cars sold in the United States and 270,000 in Canada.
The incident is the latest in an endless series of problems of Toyota, which hit the Japanese’s brand image.
Thursday, the car manufacturer Toyota has suspended worldwide sales of the new Lexus GX 460 to perform a series of safety tests after Consumer Reports magazine gave a rating of “Do not buy.” In recent months, Toyota has recalled about 9 million cars worldwide.
Image source: carguideweb.com
The reason is that a consumer association asked customers not to buy the Lexus GX-460 because that car would be unstable.
Specifically, the organization says that there is a risk that the car rollover into dangerous curves.
Until now there weren’t reported incidents of this kind. Toyota has denied the hypothesis, but nevertheless decided to suspend the sales at this car for a test.
Image source: automotiveaddicts
Although they tried to take maximum advantage from the loss image suffered by rivals Toyota, General Motors could see itself in a similar scandal.
NHTSA, is responsible for road safety, currently investigating a problem in the braking system of a large number of GM vehicles, 6,200,000 units.
The cars were made between 1999 and 2003 and may be affected by a corrosion brake.
This concerns exactly the degradation of liquid pipeline that feeds the entire brake system of the models.
Undetected in time, the problems may lead to loss of pressure in the braking system and drastic consequences on the road.
NHTSA opened the procedure, after recently been totaled 110 complaints of brake corrosion.
The models affected by the process of investigation and a possible massive recall are Chevrolet Suburban, Chevrolet Tahoe, Chevrolet Avalanche, Chevrolet Silverado, GMC Yukon and GMC Sierra.
Image source: thesupercars.org
Toyota could be fined for 16.4 million dollars, at the proposal of the U.S. Department of Transportation Secretary, Ray LaHood.
The Japanese automobile manufacturer representatives have waited at least four months prior to publish the information according to with the accelerator pedal may lock. Normally, companies should report the damage within five days.
“Now we have the proof that the manufacturer has not complied with legal obligations
and, worse, deliberately hid for several months a dangerous failure of U.S. officials and took measures to protect drivers and their families, “said Ray LaHood.
Not long time ago, the Japanese company announced that the U.S. sales rose with 41% in March, supported by interest free loans and discount lease sites. Following acceleration problems Toyota has recalled eight million vehicles in service worldwide.