Toyota Globally Rolls Out 200 Millionth Car

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Major milestone reached in June after almost 77 years of production.

There's little question that Toyota has made a whole lot of cars. But just how many, exactly? 200,000,000. That's a whole lot of zeros, and it took Toyota nearly 77 years to get there.The first Model G1 truck rolled off the line in 1935 at Toyoda Automatic Loom Works, Ltd, which later became the Toyota Motor Corporation (TMC).Over the years Toyota has become extraordinarily efficient at building cars. It took over 61 years to produce its first 100 million, and only 15 years to double that.

Of those 200 million vehicles, 145.21 million were built in Japan, and 55.12 million were made overseas. Since 1992, 7.44 million units have been produced at its European facilities in the UK, Czech Republic, Russia, Portugal, Turkey and France. Pictured here are some of the most exciting cars from Toyota's history."I wish to express my heartfelt appreciation to our customers the world over who made it possible for us to reach this milestone," said TMC President Akio Toyoda. "I also have the most profound respect and gratitude for the efforts of all persons who were involved in developing, manufacturing, and marketing Toyota and Lexus vehicles over the years."

To put the unfathomable figure into perspective, consider that, on average, amounts to 7,123 cars built every day, or five every minute - although today's output would be considerably higher taking into account its production rate today compared to when it started 76 years and eleven months ago.Although Toyota did not (and probably could not) pin-point exactly which car was its 200,000,000th, it did identify the Corolla as the best-selling nameplate in its history. As of the end of June, worldwide production of the phenomenally popular sedan - now in its eleventh generation - totaled 39.08 million units... and counting

 

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After facing a catastrophic tsunami in Japan and floods in Thailand that crippled its production facilities and hurt sales last year, the Toyota group is well on track to reclaim its title as the world's bestselling automaker in 2012.
The Japanese automaker recorded 4.97 million sales in the first six months of the year, up 34 percent from the same period in 2011, leading General Motors by some 300,0000 vehicles and the Volkswagen Group by around 520,000 sales, BusinessWeek reported.

Many industry analysts believe that Toyota has rebounded stronger than expected and that even if the company may start to lose some momentum in the second half, it will be difficult for GM and even more so Volkswagen to catch up.

However, most point out that even though GM wouldn't mind being No1 in the industry, what counts more is for the company to be profitable.

Toyota on Track to Regain Top Spot in Worldwide Sales, Leads GM by 300k, VW Group by 520k Units - Carscoop

 

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Toyota Motor Corp. reported a big increase in first-quarter profit and raised its vehicle sales forecast on demand for its cars in North America and Japan.

Toyota's net income increased to 290.3 billion yen ($3.7 billion) in the three months ended June 30, from 1.16 billion yen a year earlier, the company said today in a statement. Profit climbed to the highest level in four years.

The automaker said vehicle sales at its Toyota, Daihatsu and Hino brands would increase to 9.76 million from January to December, raising an earlier target of 9.58 million. Toyota, plagued by natural disasters in 2011, has outsold General Motors Co. and Volkswagen AG to lead the industry for two straight quarters. The company also projected production of 10.05 million units for the period.

Operating profit from North America quadrupled to 117.6 billion yen from 28.9 billion yen a year earlier.

The company, led by President Akio Toyoda, is now counting on the Prius and Camry to sustain earnings growth in the United States as analysts project demand to slow in Japan.

"Toyota's business results for the first quarter were strong but we should keep in mind that the sales surge was aided by domestic subsidies and new cars like the Camry in the U.S.," said Koichi Sugimoto, a Tokyo-based auto analyst at BNP Paribas SA. "For the three quarters left this fiscal year, the biggest concern for Toyota should be currency rate."

Beating estimates

Toyota has gained 19 percent in Tokyo trading in 2012 and last closed at 3,065 yen before the latest earnings announcement. Still, the stock has surrendered about half of its gains since the end of March after the yen turned into the best-performing major currency from the worst performer within a quarter.

Overall operating profit, or sales minus the cost of goods sold and administrative expenses, was 353.1 billion yen, beating the 316.2 billion yen average estimate. Revenue rose 60 percent to 5.5 trillion yen, compared with the 5.48 trillion yen average analyst estimate.

In the United States, April-to-June deliveries increased 48 percent to 558,812 vehicles, helped by sales of the best-selling Camry sedans, Corolla compact sedans and Prius hybrids as Toyota led the Japanese auto industry's recovery from last year's production disruptions, according to data compiled by Bloomberg.

In July, Toyota's U.S. sales rose 26 percent and the company is ahead of its full-year target of 15 percent growth. Industrywide sales of light vehicles in July grew 8.9 percent to 1.15 million units, according to researcher Autodata Corp.

The improvement, buoyed by gains at Japanese carmakers, means the industry is headed for its biggest number of annual deliveries in five years.

Toyota expects industrywide deliveries to reach about 14.3 million in the United States this year, and for "the momentum that was generated through the first six or seven months" to continue through the rest of this year, Bill Fay, group vice president of U.S. Toyota-brand sales, said this month.

Europe deliveries up

In Europe, where the region's main auto association is predicting the market to shrink to the lowest since 1995, deliveries rose 20 percent last quarter. The company posted an operating profit of 3.4 billion yen from the region, compared with the average analyst projection for profit of 4.18 billion yen.

The region caused losses of 7.55 billion yen a year earlier. Still, Toyota is less reliant on European demand than companies such as PSA/Peugeot-Citroen and GM, making the Japanese carmaker less vulnerable to the region's debt crisis.

Toyota, which estimates its European market share to have been about 4 percent in 2011, accounted for about 10 percent of global sales last year, according to data compiled by Bloomberg.

GM, struggling to turn around its money-losing Opel unit, reported yesterday that second-quarter profit slid 38 percent as losses widened in Europe where the auto market is heading toward its fifth year of sales declines.

Japan doubles

In July, Toyota led full-line automakers by reducing spending on discounts and promotions in the U.S. by 24 percent to $1,849 per vehicle, according to Autodata estimates.

For the quarter ended June 30, it increased incentive spending 4.2 percent, according to Autodata.

In Japan, Toyota's deliveries almost doubled last quarter, led by the Prius hybrid, as pent-up demand and government subsidies for fuel-efficient cars helped spur demand.

The Japanese market expanded 54 percent in the first six months of 2012, the fastest growth among the world's biggest automobile markets, according to data compiled by Bloomberg.

Toyota generated profit from Japan for a second-straight quarter after posting eight consecutive quarters of losses. Operating profit at home was 107.1 billion yen, versus the 47.3 billion yen average analyst estimate.

Growth in Japan may slow after the budget for government subsidies runs out as soon as this month, according to Sugimoto at BNP Paribas.

That means Japanese carmakers will be under pressure to introduce new models and spend more on marketing the models to sustain demand, he said.

Outside Japan

Asian markets outside of Japan, including China and India, contributed 101.5 billion yen in operating income, compared with the 104.1 billion yen average analyst estimate.

Total wholesale deliveries of passenger vehicles in China may rise 11 percent to 16.09 million units in 2012, according to the China Association of Automobile Manufacturers.

Toyota kept its exchange-rate assumptions of 80 yen to the dollar, though it revised its assumption for the euro to 101 yen from an earlier 105 yen estimate.



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Toyota revamps management to battle GM, Volkswagen

Toyota Motor Corp. President Akio Toyoda overhauled his top management for a second straight year, strengthening his control over the world's largest carmaker to vie with General Motors Co. and Volkswagen.

Three of Toyoda's seven executive vice presidents will step down, being replaced by just two people, the carmaker said in a statement today. Three outsiders will be added to the board, including former GM group Vice President Mark Hogan, the first foreigner on Toyota's board since 2007.

The changes mean Toyoda, 56, will have replaced all but one of his top lieutenants within a span of two years as he grooms the next generation of leaders at Japan's largest manufacturer, founded by his grandfather in 1937.

While the yen's 7 percent decline this year is boosting earnings, the company faces a growing challeng from U.S. and European automakers in markets from China to the U.S.

"It's been gradual, steady process and this is just part of the change that's in his mind," said Edwin Merner, president of Atlantis Investment Research Corp. in Tokyo. "It's good for Toyota."

Hogan, president of Dewey Investments and formerly president of Magna International, will be joined by Ikuo Uno, executive adviser at Nippon Life Insurance Co., and Haruhiko Kato, president of the Japan Securities Depository Center, as outsiders entering Toyota's board.

"The appointment of outside board members shows Toyota has opened up more and become fully global," Chairman Fujio Cho, 76, told reporters today in Tokyo.

Cho, serving in a largely ceremonial role, will become honorary chairman and be succeeded by current Vice Chairman Takeshi Uchiyamada. Uchiyamada, 66, led Toyota's development of the Prius -- the world's best-selling gasoline-electric car -- before he was promoted to executive vice president in 2005. He became vice chairman of Toyota's board in June 2012. He graduated from Nagoya University in 1969 with a degree in applied physics and joined Toyota the same year, according to the company's website.

North America chief

Among the six executives promoted this year to senior managing officer -- one level below executive vice president in Toyota's hierarchy -- Jim Lentz will oversee North American operations as the region's chief executive officer. Lentz was previously the U.S. sales chief.

"These changes will help us to achieve sustainable growth and realize our global vision by giving more responsibility to each region, including our North and South American operations," Toyoda said in a statement.

Atsushi Niimi, 65, who managed production and dealt with supply-chain disruptions after the March 11 earthquake and tsunami, is among the three outgoing executive vice presidents.

The other two are Shinichi Sasaki, 66, who was in charge of quality control when Toyota recalled millions of vehicles from 2009, and Yukitoshi Funo, 66, who looked after Toyota's Asian business outside of Japan.

Yasumori Ihara, 61, senior managing officer in charge of logistics and purchasing, and Seiichi Sudo, who headed Toyota Motor Kyushu Inc., will be promoted to executive vice presidents, the company said.

Toyota also said that it's reorganizing its automotive business into four units to speed up decision making and clarify its operations.

One division will focus on Lexus; the other on North America, Europe and Japan; the third on the rest of the word; and the fourth components such as engines and transmission parts.



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