Tag Archives: Corporation

ToyotaUk

TMC Announces April Through March 2024 Financial Results

Leave a comment

Toyota Motor Corporation (TMC) at the moment introduced its monetary outcomes for the fourth quarter, which ended March 31, 2024.

TOYOTA CITY, Japan (May 8, 2024) — Consolidated automobile gross sales totaled roughly 9,443,000 models, a rise of roughly 621,000 models in comparison with the identical interval final fiscal 12 months. On a consolidated foundation, internet revenues for the interval totaled 45.095 trillion yen ($311.0 billion), a rise of 21.4%. Operating earnings elevated from 2.725 trillion yen ($20.2 billion) to five.352 trillion yen ($36.9 billion), whereas earnings earlier than earnings taxes 1 was 6.965 trillion yen ($48.0 billion). Net earnings 2 elevated from 2.451 trillion yen ($18.2 billion) to 4.944 trillion yen ($34.1 billion).

Regions
North America: Vehicle gross sales totaled roughly 2,816,000 models, a rise of 409,000 models. Operating earnings, excluding the affect of valuation positive factors/losses from rate of interest swaps, elevated by 450.3 billion yen ($3.1 billion) to 524.9 billion yen ($3.6 billion).

Japan: Vehicle gross sales totaled roughly 1,993,000 models, a lower of 76,000 models.  Operating earnings, excluding the affect of valuation positive factors/losses from rate of interest swaps, elevated by 1,583.7 billion yen ($10.9 billion) to three,486.2 billion yen ($24.0 billion).

Europe: Vehicle gross sales totaled roughly 1,192,000 models, a rise of 162,000 models. Operating earnings, excluding the affect of valuation positive factors/losses from rate of interest swaps, elevated by 351.3 billion yen ($2.4 billion) to 407.9 billion yen ($2.8 billion).

Asia: Vehicle gross sales totaled roughly 1,804,000 models, a rise of 53,000 models. Operating earnings, excluding the affect of valuation positive factors/losses from rate of interest swaps, elevated by 159.9 billion yen ($1.1 billion) to 872.7 billion yen ($6.0 billion).

Other areas (together with Central and South America, Oceania, Africa, and the Middle East): Vehicle gross sales totaled roughly 1,638,000 models, a rise of 73,000 models. Operating earnings, excluding the affect of valuation positive factors/losses from rate of interest swaps, decreased by 73.2 billion yen ($504.8 million) to 194.3 billion yen ($1.3 billion).

Financial Services
Financial companies working earnings decreased by 8.0 billion yen ($55.1 million) to 613.6 billion yen ($4.2 billion). Including valuation positive factors/losses, working earnings elevated by 132.5 billion yen ($913.8 million) to 570.0 billion yen ($3.9 billion).

(*FY24 forex translations above are approximate and based mostly on a median 145-yen-to-dollar change fee; FY23 is 135-yen-to-dollar change fee)

Forecast
For the fiscal 12 months ending March 31, 2025, TMC estimates consolidated automobiles gross sales can be 9.50 million models. Based on an change fee assumption of 145 yen to the U.S. greenback, TMC forecasts consolidated internet income of 46.0 trillion yen ($317.2 billion), working earnings of 4.3 trillion yen ($29.7 billion), earnings earlier than earnings taxes of 5.07 trillion yen ($35.0 billion), and internet earnings of three.57 trillion yen ($24.6 billion).

(*all forex translations above are approximate and based mostly on a median 145 -yen-to-dollar change fee.)

1 Income earlier than earnings taxes and fairness in earnings of affiliated corporations

2 Net earnings attributable to Toyota Motor Corporation

For extra data, click here.

ToyotaUk

Mazda North American Operations Renews Agreement for Toyota Motor Credit Corporation to Provide Private Label Financing Under the Mazda Financial Services Brand Name

About Toyota Motor Credit Corporation

Toyota Motor Credit Corporation (TMCC) operates within the United States to supply retail auto financing and leasing to prospects by means of auto dealerships. TMCC has a spread of merchandise to fulfill sellers’ financing wants and likewise provides prolonged service contracts and different car and cost safety merchandise by means of Toyota Motor Insurance Services (TMIS) and its subsidiaries.

TMCC provides its finance and safety merchandise to Toyota and Lexus prospects and sellers utilizing the Toyota Financial Services and Lexus Financial Services model names. Through its non-public label enterprise, TMCC additionally provides different finance and safety merchandise below the manufacturers of Mazda Financial Services and Bass Pro Shops Financial Services.

As of March 31, 2023, TMCC employed roughly 3,800 staff members nationwide, and had property totaling $137 billion. The firm is a part of a worldwide community of complete monetary companies provided by Toyota Financial Services Corporation, a wholly-owned subsidiary of Toyota Motor Corporation.

We announce materials monetary data utilizing the investor relations part of our web site (www.toyotafinancial.com) and SEC filings. We use these channels, press releases, and social media to speak about our firm, our companies and different points. While not all data we put up on social media is of a cloth nature, some data could possibly be materials. Therefore, we encourage these desirous about our firm to assessment our messages on X, previously often called Twitter, at www.x.com/toyotafinancial and posts on Facebook at www.facebook.com/toyotafinancial.

The commerce title “Mazda Financial Services” and the Mazda and Mazda Financial Services logos are owned by Mazda Motor Corporation (Mazda) or its associates and are licensed to Toyota Motor Credit Corporation (TMCC). Retail installment accounts could also be owned by TMCC or its securitization associates and lease accounts could also be owned by Toyota Lease Trust (TLT) or its securitization associates. TMCC is the servicer for accounts owned by TMCC, TLT, and their securitization associates. Mazda Protection Products is a registered service mark of Mazda and licensed to Toyota Motor Insurance Services, Inc. (TMIS). Voluntary Protection Products are administered by TMIS or a 3rd occasion contracted by TMIS. Mazda is solely liable for its services and for promotional statements about them and isn’t affiliated with TMCC or its associates. Retail accounts and leases by means of Mazda Financial Services are topic to credit score approval by TMCC.

About Mazda North American Operations

Mazda North American Operations is headquartered in Irvine, California, and oversees the gross sales, advertising, elements, and customer support help of Mazda autos within the United States, Canada, Mexico, and Colombia by means of roughly 795 sellers. Operations in Canada are managed by Mazda Canada Inc. in Richmond Hill, Ontario; operations in Mexico are managed by Mazda Motor de Mexico in Mexico City; and operations in Colombia are managed by Mazda de Colombia in Bogota, Colombia. For extra data on Mazda autos, together with pictures and B-roll, please go to the net Mazda media middle at News.MazdaUSA.com.

Follow @MazdaUSA on social media: Facebook, Instagram, X, YouTube, and Threads.

ToyotaUk

TMC Announces April Through December 2023 Financial Results

Toyota Motor Corporation (TMC) at present introduced its monetary outcomes for the third quarter, which ended December 31, 2023.

TOYOTA CITY, Japan (Feb. 6, 2024) — Consolidated automobile gross sales totaled roughly 7,295,000 items, a rise of roughly 804,000 items in comparison with the identical interval final fiscal yr. On a consolidated foundation, web revenues for the interval totaled 34.022 trillion yen ($237.9 billion), a rise of 23.9%. Operating earnings elevated from 2.098 trillion yen ($15.4 billion) to 4.24 trillion yen ($29.7 billion), whereas earnings earlier than earnings taxes 1 was 5.357 trillion yen ($37.5 billion). Net earnings 2 elevated from 1.899 trillion yen ($14.0 billion) to three.9472 trillion yen ($27.6 billion).

Regions

North America: Vehicle gross sales totaled roughly 2,161,000 items, a rise of 309,000 items. Operating earnings, excluding the impression of valuation positive aspects/losses from rate of interest swaps, elevated by 503.2 billion yen ($3.5 billion) to 552.5 billion yen ($3.8 billion).

Japan: Vehicle gross sales totaled roughly 1,630,000 items, a rise of 228,000 items.  Operating earnings, excluding the impression of valuation positive aspects/losses from rate of interest swaps, elevated by 1.141 trillion yen ($7.9 billion) to 2.686 trillion yen ($18.8 billion).

Europe: Vehicle gross sales totaled roughly 884,000 items, a rise of 127,000 items. Operating earnings, excluding the impression of valuation positive aspects/losses from rate of interest swaps, elevated by 294.4 billion yen ($2.0 billion) to 308.8 billion yen ($2.1 billion).

Asia: Vehicle gross sales totaled roughly 1,376,000 items, a rise of 83,000 items. Operating earnings, excluding the impression of valuation positive aspects/losses from rate of interest swaps, elevated by 97.1 billion yen ($679 million) to 651.7 billion yen ($4.6 billion).

Other areas (together with Central and South America, Oceania, Africa, and the Middle East): Vehicle gross sales totaled roughly 1,245,000 items, a rise of 57,000 items. Operating earnings, excluding the impression of valuation positive aspects/losses from rate of interest swaps, elevated by 13.4 billion yen ($94 million) to 190.1 billion yen ($1.3 billion).

Financial Services

Financial companies working earnings decreased by 14.9 billion yen ($104 million) to 470.6 billion yen ($3.3 billion). Including valuation positive aspects/losses, working earnings elevated by 93.0 billion yen ($650 million) to 416.9 billion yen ($2.9 billion).

(*FY24 foreign money translations above are approximate and primarily based on a median 143-yen-to-dollar alternate price; FY23 is 136-yen-to-dollar alternate price)

Forecast

For the fiscal yr ending March 31, 2024, TMC estimates consolidated automobiles gross sales shall be 9.45 million items. Based on an alternate price assumption of 143 yen to the U.S. greenback, TMC forecasts consolidated web income of 43.5 trillion yen ($304.2 billion), working earnings of 4.9 trillion yen ($34.3 billion), earnings earlier than earnings taxes of 6.2 trillion yen ($43.4 billion), and web earnings of 4.5 trillion yen ($31.5 billion).

(*all foreign money translations above are approximate and primarily based on a median 143 -yen-to-dollar alternate price.)

1 Income earlier than earnings taxes and fairness in earnings of affiliated firms

2 Net earnings attributable to Toyota Motor Corporation

For extra info, click here.

News

Suzuki USA Issues Stop Sale Order On 2024 Hayabusas Due To Brake Fluid Leak

On January 18, 2024, Suzuki Motor Corporation issued a Stop Sale discover for sure 2024 Hayabusa and Hayabusa 25th Anniversary Edition bikes. The subject pertains to the potential for an improperly tightened ABS hydraulic unit flare nut, which may trigger brake fluid to leak from the ABS module. A brake fluid leak may end in longer stopping distances, which may improve the danger of a crash.

According to Suzuki Motor USA’s information, round 993 bikes may probably be affected within the US. This represents 13 % of the inhabitants.

The affected bike vary consists of 2024 Hayabusas and Hayabusa twenty fifth Anniversary Editions that had been produced between July 7, 2023 and November 28, 2023. Affected VINs vary from JS1EJ11B5R7100201 to JS1EJ11B2R7101144 and likewise JS1EJ11D2R7100027 to JS1EJ11D3R7100246, and should not sequential.

Suzuki Motor Corporation, which is Suzuki Motor USA’s father or mother firm, supplied a chronology of occasions that led to the issuance of this recall. On December 13, 2023, a top quality inspection on the Hamamatsu plant revealed a leak, and recognized the reason for the leak to be incompletely tightened brake fluid flare nut fittings on the ABS module. 

Further investigation revealed that an worker on the manufacturing line had not been following the usual multi-step tightening course of for these nuts. Instead, “the production worker independently altered the tightening procedure to a single wrench movement as opposed to the correct procedure that specified multiple wrench movements,” in line with the report. This probably meant that full tightening torque was not achieved, leading to the potential for brake fluid leakage.

In addition to issuing the Stop Sale discover, on January 23, 2024, Suzuki Motor USA issued a security recall for sure 2024 Hayabusas and Hayabusa twenty fifth Anniversary Editions to deal with this security subject. 

Under the phrases of this recall, licensed Suzuki sellers will examine and tighten the brake pipe flare nuts and likewise alter the brake fluid degree on affected bikes as vital. This service can be carried out freed from cost to the client.

Suzuki plans to inform its dealership community on January 29, 2024. Owners can be notified through letters scheduled to be mailed on February 5, 2024.

Suzuki’s quantity for this recall is 3A01. Owners could contact Suzuki USA customer support at 1-800-934-0934. Additionally, homeowners could contact the US National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153) or go to www.nhtsa.gov.

If you’re a 2024 Hayabusa proprietor and you reside outdoors the US, since Suzuki Motor Corporation in Japan raised this security subject, it is best to test along with your native security recall authority in your area for any comparable motion which will have been taken. You can even contact your native Suzuki vendor with any questions you might need about your 2024 Hayabusa.

Mazda

Mazda Adopts North American Charging Standard (NACS) for North American BEVs

IRVINE, Calif. (January 16, 2024) – Mazda Motor Corporation (“Mazda”) immediately introduced an settlement was reached with Tesla, Inc. (“Tesla”) to undertake the North American Charging Standard (“NACS”) for charging ports on the corporate’s Battery Electric Vehicles (“BEVs”) launched in North America from 2025 onward.

Mazda will drive adoption of NACS to supply clients with a broader vary of charging choices. This addition will present Mazda BEV clients with better charging comfort by entry to greater than 15,000 Tesla Superchargers throughout North America.

Mazda will proceed to pursue the ‘Joy of Driving’ below its core worth, “Human Centric”, and purpose to ship ‘Joy of Living’ by creating shifting experiences in clients’ day by day lives.

Mazda North American Operations is headquartered in Irvine, California, and oversees the gross sales, advertising, elements and customer support help of Mazda automobiles within the United States, Canada, Mexico, and Colombia by roughly 795 sellers. Operations in Canada are managed by Mazda Canada Inc. in Richmond Hill, Ontario; operations in Mexico are managed by Mazda Motor de Mexico in Mexico City; and operations in Colombia are managed by Mazda de Colombia in Bogota, Colombia. For extra info on Mazda automobiles, together with images and B-roll, please go to the web Mazda media heart at News.MazdaUSA.com.  

Follow MNAO’s social media channels by Twitter and Instagram at @MazdaUSA and Facebook at Facebook.com/MazdaUSA. 

Reviews, Technology

Who Makes EGO Power Tools And Are They Any Good?

Chervon, to not be confused with the multinational power company Chevron, owns Ego energy instruments. Chervon is an influence instrument firm established in Nanjing, China. Chervon was established in 1993, with Chervon Power Tools being based in 1994. The firm additionally owns different standard instrument manufacturers like FLEX and Skil/Skilsaw. Unlike these manufacturers — which have been acquired from German and American firms — Ego is wholly owned by Chervon and acts as the corporate’s fundamental outside energy instrument model marketed towards North America, Europe, and Australia.

Ego was formally launched within the United States in 2012, introducing its line of electrical energy instruments to Americans for the primary time. Two years later, in 2014, the Ego model would increase to Europe. Today, Ego instruments will be present in main retailers, together with Lowes, Ace, and Walmart, with it having a presence in over 2,500 accepted European sellers as effectively. It’s finest recognized for its line of lawnmowers, leaf blowers, and trimmers.

In phrases of producing, Chervon began growing manufacturing capabilities in 1999 and runs two robot-equipped sensible factories out of China, leading to many Ego instruments being made in China. Today, the Ego model produces over 10 million instruments yearly and will be present in 65 international locations worldwide.

Motorsport

Feds Fine Toyota $60M For Unfair Lending Practices and False Credit Reports

Toyota Motor Credit Corporation (TMCC), the financing arm of Toyota, has agreed to a $60 million settlement with the Consumer Financial Protection Bureau (CFPB). The CFPB accused TMCC of unlawfully preventing consumers from canceling bundled products often included in vehicle purchases and making false reports that negatively impacted buyers’ credit reports.

According to the CFPB, consumers who wanted to cancel unwanted products were directed to internal customer service teams where the process of getting them removed or refunded was unnecessarily difficult. The specific types of products are not specified, but the added costs ranged from $750 to $2,500 per auto loan. In some cases, Toyota dealerships allegedly misrepresented these products as mandatory, and refunds were sometimes not issued for the full amount. The CFPB reported that 118,000 customers encountered obstacles when trying to cancel unwanted services between 2016 and 2021.

CFPB Director Rohit Chopra stated, “Toyota’s lending arm illegally withheld refunds, made borrowers run through obstacle courses to cancel unwanted services, and tarnished their credit reports. Given the growing burdens of auto loan payments on Americans, we will continue to pursue large auto lenders that cheat their customers.”

On the credit front, the CFPB announced that TMCC falsely reported some accounts as delinquent to credit agencies, even though customers had returned lease vehicles. Furthermore, TMCC did not promptly correct these errors, resulting in incorrect data on the credit reports of 27,500 TMC customers, which lowered their credit scores.

Although Toyota admitted no wrongdoing, it agreed to the terms of the settlement. In a statement to Motor1, Toyota said, “Toyota Motor Credit Corporation is committed to doing what’s right for our customers and strives to consistently follow all federal and state laws in our sales, customer service, and administrative practices.”

As part of the settlement, TMCC will pay $48 million to affected customers and a $12 million penalty to the CFPB victims relief fund.

Lexus

LEXUS UNVEILS THE FUTURE OF ELECTRIFIED VEHICLES AND MOBILITY EXPERIENCES AT THE 2023 JAPAN MOBILITY SHOW

Toyota Motor Corporation is focused on developing and manufacturing innovative, safe, and high-quality products and services that provide mobility for everyone. With a belief that true success comes from supporting customers, partners, employees, and communities, the company has been guided by these principles since its establishment in 1937. Today, as Toyota transforms into a mobility company that develops connected, automated, shared, and electrified technologies, it remains committed to its guiding principles and the United Nations’ Sustainable Development Goals, working towards making the world a better place where everyone has freedom of movement.

For more information on Toyota’s SDGs initiatives, please visit here.

The press release is related to SDG 9 and SDG 13.

ABOUT LEXUS

Lexus was first introduced in 1989 with a flagship sedan and a guest experience that redefined the luxury automotive industry. In 1998, Lexus revolutionized the market with the launch of the luxury crossover category through the Lexus RX. As a leader in luxury hybrid vehicles, Lexus has achieved numerous milestones, including the world’s first luxury hybrid and the sale of over 2.66 million hybrid vehicles, including HEVs, PHEVs, and BEVs, as of the end of August 2023.

As a global luxury automotive brand, Lexus is known for its bold and uncompromising design, exceptional craftsmanship, and exhilarating performance. The brand has expanded its lineup to cater to the preferences of the next generation of luxury customers and is currently available in over 90 countries/regions worldwide.

Lexus associates and team members around the world are dedicated to creating amazing experiences that are unique to the brand, aiming to excite and make a positive impact on the world.

Cars

5 Of The World’s Biggest Engines That Are Truly Massive

The world’s largest reciprocating diesel engine is manufactured by Wärtsilä Corporation, a Finland-based company, and it is specifically designed to power colossal cargo ships.

With a height of almost 43 feet and a length of 85 feet, the RT-flex96C is a 14-cylinder giant that weighs a staggering 2,300 tons. The crankshaft on its own weighs 300 tons, and each piston, towering at nearly 20 feet, weighs over five tons. To put its immense size into perspective, the Hollywood sign in Los Angeles stands at 45 feet tall, while the typical blue whale measures 80 to 90 feet in length. Interestingly, even 13 blue whales combined weigh less than this engine, at about 2,000 tons.

The RT-flex96C has a displacement of nearly 25,500 liters, which is equivalent to approximately 3,187 Bugatti Chiron engines. It generates an impressive 108,920 horsepower at 102 revolutions per minute (rpm) and produces a massive torque of 5.6 million pound-feet. This engine consumes 250 tons of fuel per day and utilizes over 39 barrels of oil per hour. Its cost per minute is $34, but this can vary based on the daily price of oil.

Ships powered by the RT-flex96C engine can transport 11,000 20-foot long shipping containers at a speedy pace of 25 to 31 knots, whereas most cargo ships typically cruise at around 20 knots. As a result, these ships can reach destinations such as China from the United States four days faster. As of April 2023, there were only 25 RT-flex96C engines in existence, and an additional 86 engines were under construction by Wärtsilä.

News

Official: Audi and SAIC to collaborate on EV development

Audi and Shanghai Automotive Industry Corporation (SAIC) have agreed to work together on developing electric vehicles, with the aim of strengthening their presence in the Chinese car market. This announcement was made by SAIC, a Chinese state-owned car maker, on Thursday.

The agreement between Audi and SAIC comes after Audi engaged in discussions with SAIC, the owner of MG Motor, about the possibility of sourcing an electric vehicle platform from SAIC’s IM Motors brand. This would serve as an alternative to Audi’s delayed Scalable Systems Platform (SSP) architecture, which is part of the Volkswagen Group.

SAIC stated, “All stakeholders agree that the Chinese auto market is currently undergoing the biggest transformation in its history. Therefore, we will work together on a strategic approach that ensures our future success,” according to Bloomberg.

Audi’s plans to base their future electric vehicles on the SSP architecture have been disrupted due to ongoing software development delays, including the creation of a new operating system known internally as E3 2.0.

E3 2.0 is a crucial component of the SSP architecture, which aims to incorporate level three autonomous driving technology.

As an alternative for models intended for sale in China, Audi is exploring the possibility of using SAIC’s electric vehicle platform, which was developed for the IM L7 saloon and IM LS7 SUV. This platform supports an 800V electric architecture and was originally designed for vehicles ranging from 2800mm to 3200mm in wheelbase length.

Audi, under pressure to improve sales in China, recently announced that Gernot Doellner will take over as CEO, replacing Markus Duesmann. This leadership change is part of Audi’s efforts to restructure the German car manufacturer.