Toyota Financial News

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Toyota will strengthen its development of electric vehicle technology in China, the automaker said on Monday, as it looks to catch up with increasingly tough domestic competition in the world's largest auto market. The move is the latest from the world's top selling carmaker that shows a sharper pivot to electric vehicles.

Japan's Nikkei share average rallied to a four-week high on Monday as a relatively calm reaction in the domestic bond market following the Bank of Japan's surprise policy tweak and growing optimism for a soft landing for the U.S. economy boosted investor sentiment. Earnings reports also produced some stand out winners and losers, with Toyota Group logistics company Toyota Tsusho surging nearly 10% and helping lift the auto sector.

Sales of cars and utility vehicles are expected to remain strong for the fourth straight month in July, amid improved supplies and sustained demand in the local market. Around 345,000-346,000 vehicles are expected to be sold in the domestic market by the close of this month, compared with 342,000 units a year earlier. This would be the highest July sales on record in the Indian market.

The U.S. government wants to raise the fuel economy of new vehicles 18% by the 2032 model year so the fleet would average about 43.5 miles per gallon in real-world driving

By David Shepardson

electric vehicle that Renault-Nissan plans to launch in the Indian market remains unclear. However, they already offer an electric version of the Kwid called the Dacia Spring in the global market. The Dacia Spring features a single electric motor generating 44 hp of maximum power in its base variant, and it claims a driving range of 230 km on a single charge.

Mercedes-Benz has unveiled its latest MPV models, including the EQV, V-Class, V-Class Marco Polo, eVito, and Vito variants, showcasing a sharpened and stylish design. The front profile has undergone significant updates with new LED headlights, a revised grille design, and updated bumpers, complemented by more aerodynamic alloy wheel options. Inside the vehicles, there's a completely redesigned dashboard that exudes a sense of premium luxury.

Toyota, Japan’s most-valued company that has had a relatively circumspect local presence in comparison with compact-car leader Suzuki, is considering setting up an ancillary business in India, tapping into New Delhi’s emergence as a manufacturing hub as the world seeks to reduce a hitherto disproportionate China-centric supply reliance. «Toyota wants to bring their supply chain to India,» a person aware of the talks told ET. «That conversation is slowly opening up.

Honda Elevate features a 1.5-liter NA petrol engine paired with both a six-speed manual and a CVT unit. The gasoline motor delivers 119bhp and 145Nm of peak torque, with ARAI-certified fuel efficiency figures of 15.31kmpl for the manual variant and 16.92kmpl for the automatic variant. However, unlike the Honda City, the Elevate SUV does not come with a hybrid powertrain setup.

Toyota Motor Corporation (NYSE:TM) revealed Monday that its joint venture with China’s state-owned Guangzhou, the Guangzhou Toyota Motor Co, has terminated early contracts of about 1,000 dispatch workers. The decision comes amidst mounting pressure from a price war in the world's largest auto market.

Toyota Motor Corp has dismissed some workers at one of its plants in China, three workers told Reuters, as the Japanese automaker struggles with a price war and sales slump in the world's largest auto market. The joint venture between Toyota and China's state-owned Guangzhou Automobile Group (GAC) laid off the workers over the weekend and offered them compensation, said the workers, who declined to be named for privacy. The workers affected were hired by labor service companies and dispatched to work at the factory of GAC Toyota in the southern city of Guangzhou.

Investing.com — Shares of major Japanese automakers rose on Monday, tracking strength in Mitsubishi Motors Corp (TYO:7211) after the carmaker logged stronger-than-expected quarterly earnings.

Toyota Kirloskar Motor (TKM) is likely to reach optimal capacity utilisation at its plants by the end of 2024, after which it may consider setting up another unit, a top company executive told ET. The maker of Hycross and Innova Crysta models has seen a surge in demand since it started rolling out new models in 2020, following its global alliance with Suzuki Motor Co. On the back of robust demand for its newly launched vehicles and buoyancy in the passenger vehicle market, TKM is expecting 2023 to be its second consecutive year of record production and sales, said Vikram Gulati, country head and executive vice president, Toyota Kirloskar Motor (TKMPL). In FY23, TKM's dispatches to dealers increased by 41% over the previous year to 174,015 units. It plans to dispatch 220,000-230,000 units in the current fiscal year, according to a person familiar with the company's sales projection. This would be TKM's second consecutive year of double-digit growth. A large part of its incremental volume is likely to come from the Hyryder, its new compact SUV which is the first product co-developed with Maruti Suzuki.

Toyota Motor revealed their ambitious plan to utilize regenerative fuel cell technology for propelling a manned lunar rover. This cutting-edge approach opens up exciting possibilities for harnessing the moon's water ice as a potential energy source in the days to come. Japan, under the leadership of Prime Minister Fumio Kishida, has significantly amplified its space exploration aspirations.

Toyota Hilux as part of its efforts to modernise its fleet and add to its transportation muscle. Lt Gen AnindyaSengupta received the first set of Toyota Hilux — Mountain off-Road Vehicles from Mr V Wiseline Sigamani, General Manager Strategic Business Unit (North) after rigorous testing in most inclement weather & rough terrain, the Army's Northern Command tweeted. The pre-delivery technical assessment involved testing the vehicle in inclement conditions such rough terrains and extreme weather.

Jeep India has recently removed specific variants of the Meridian from its official website, leading to speculation about the discontinuation of these particular models. Presently, the Meridian is offered in four trims: Limited (O), Limited Plus, Upland, and X. However, the Limited MT and Limited AT variants have been taken off the website.

Maruti Suzuki and Toyota have termed the upcoming rating as a bold step in the right direction for the domestic industry. In a statement to news agency PTI, Velusamy R, President - Automotive Technology and Product Development, Mahindra & Mahindra said “We at Mahindra believe it is one of the bold steps by the Ministry of road transport and we welcome the implementation of Bharat NCAP."  This initiative of MoRTH will generate equal opportunities and create healthy competition among OEMs to make safer models for Indian customers, he added.

SUV (sport utility vehicle) or MUV (multi-utility vehicle) the GST Council’s decision to change the definition of UVs that attract a compensation cess of 22% may have implications. Mint explains the changes and the impact on buyers. All motor vehicles, barring electric vehicles, are taxed in the highest GST slab of 28%.

Hyundai Motor India Ltd increased its UV production to 91,206 in Q1Fy24 from 81,100 in Q1FY23. Kia Motors witnessed a fall in its production to 80,272 units in Q1FY24 from 84,161 units in Q1FY23. Mahindra & Mahindra witnessed a significant rise in UV production to 98,145 units in April-June quarter against 74,298 in the same period.

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