Toyota Motor Co., the world’s largest automaker, has been producing cars for more than 70 years. It wasn’t until after World War II, however, that production started to pick up. Toyota went from making 8,500 cars a year in 1955 to 600,000 in 1965. Models like the Toyopet and Land Cruiser hit the United States in 1957. Today Toyota is among the leaders when it comes to hybrid technology.
Over the last few weeks we have visited Bangladesh, Venezuela, the USA in 1986 and Cambodia. May I interest you in a little trip back to the Americas this week to Panama?
The interesting thing about car sales in Panama is the way Hyundai is progressively establishing itself as the ‘go-to’ brand there, with 3 models in the Top 4 so far this year…
Working in the 24 Hours of LeMons Penalty Box, the constant refrain of “Four wheels off” over the radio from the corner workers reporting miscreant drivers gets a little tedious. Hearing “Six wheels off,” however, really livens things up for us. That’s just one of the many benefits of having the Team Apex Vinyl Texas six-wheeled Toyota Hilux in a race. Read More >
There are some fast LeMons cars that suffer from a single glaring weakness that knocks them out of the running after maintaining a lead for hour after hour. For example, the Acura Integra and Honda Prelude and their fragile head gaskets, or the Toyota MR2’s chronic engine-cooling/oiling woes. The Ford Taurus SHO, however, is constructed entirely from weaknesses; the transmissions explode, the engines throw rods (when they aren’t too busy spinning bearings and/or burning valves), the brakes overheat, and the suspensions crumble like pretzel sticks in a trash compacter. Wheel bearings, electrical components, you name it. But when a well-driven SHO doesn’t fall apart, very few LeMons-priced cars can catch it on a race course. Read More >
India will likely report a good September for most of its carmakers. The final numbers are not expected until a week from now, but here are the results of some of the most important ones. Keep in mind that these “sales” numbers are the total of what has been sold in India and what has been shipped abroad. The Indian domestic market is still a bit sluggish, but exports are picking up nicely. Read More >
What looks like a Chinese-Japanese matter should cause considerable heartburn in Sweden and the Netherlands: The Chinese government has informed Fuji Heavy Industries Ltd. that it will not approve the automaker’s application to set up a joint venture in China, says Japan’s Yomiuri Shimbun. Let’s take a closer look. Read More >
After a grueling all-day battle of thrown rods, car fires, and busted suspensions at MSR Houston, we never expected to see a Ford Taurus SHO with a Rat Patrol roof gunner on the same lap as a bar-sponsored ’84 Volkswagen Rabbit. That’s how things sorted out after the first race session of the fourth annual Yeehaw It’s Texas 24 Hours of LeMons. Read More >
September Light Vehicle sales, which will be out on Monday, could rise to levels not seen since April, analysts surveyed by Bloomberg reckon. The consensus average stands at a seasonally adjusted annual rate of 12.8 million units. The people who have the real time sales data even think it’s a bit higher: Jessica Caldwell of Edmunds figures 12.9 million SAAR, Jesse Toprak of Truecar even expects 13.1 million. And guess who saved the American bacon? The Japanese. Read More >
The Japanese car industry is slowly but surely producing and exporting itself out of the huge hole caused by the March 11 tsunami. The Japanese domestic market remains where it was before the catastrophe: In the dumps. This is the bottom line of August production, export and domestic sales data released today by the Japan Automobile Manufacturers Association.Read More >
Last year, tensions ran high – about dirt. Emotions were whipped up about a Chinese embargo on stuff most people never had heard of: Rare earth.The stuff is used to make magnets that go into anything from hard drives to generators and electric motors. Cooler heads tried to point out that rare earth is not rare at all, and that China has as much a monopoly on rare earth as it has on sand. Nobody listened to the cooler heads, and rare earth prices went stratospheric. Step aside, those rare earth prices are crashing down.
Toyota has a new global styling chief that makes heads turn in Aichi and Bunkyo, even before he has shown a rough design: “Eeeh? Look at that shirt! And did you see the gold chain???” Or as Frau Schmitto-san, TTAC’s advisor in multicultural matters exclaimed: “Global styling? He needs to style his hair!” It takes a lot to shake up Toyota’s culture, and Akihiro “Dezi” Nagaya has what it takes.
Charged with putting an end to the long tradition of conservative design, Dezi Nagaya definitely looks the part. According to Automotive News [sub], he “dresses like he’s on his way to a trendy Shibuya nightclub rather than off to work at Toyota.”
Cornered at the Frankfurt Auto Show (even there he stood out), Toyota’s new head of styling promised: Read More >
In case you are at the Texas State Fair in Dallas at this moment, stop staring at million dollar steers and heifers and go over to Toyota. They will show you a truck with the longest name in recorded Texas history. It’s the “pre-production Tacoma Toyota Racing Development (TRD) T|X (Tacoma Extreme) limited edition pickup truck.”
We did not make that up, it says so right here in the press release. If “pre-production Tacoma Toyota Racing Development (TRD) T|X (Tacoma Extreme) limited edition pickup truck” is too long, you can call it “Baja Series.” Read More >
The prospect of a Chinese auto industry growing at insane speed thanks to a booming market and resiliently low wages has long kept auto industry execs up at night, most notably inspiring Sergio Marchionne’s acquisition of Chrysler. But basic economic principles dictate that you can have a high rate of growth or low wages… but not both. Growth inevitably drives inflation, which drives up wages, which in turn slows growth. And according to a report in the Wall Street Journal [sub], that dynamic is already taking hold.
Jae-Man Noh, head of Hyundai’s joint-venture operations in China, said average manufacturing-worker wages in China—about 27,000 yuan ($4,200) a year per worker in 2009—are likely to double by 2015 from current levels.
Auto makers are expected to be affected as much as other industries by the trend, if not more, Mr. Noh said, adding that wage costs for many foreign auto manufacturers already have doubled in less than a decade. He said that a rival foreign auto maker that Hyundai has researched has seen worker wages in China rise to 49,000 yuan a year per worker in 2010, up from 24,500 yuan a year in 2003.
“We need to let go of our perception that the Chinese market is a low-cost production base,” Mr. Noh told a group of reporters at Hyundai’s office in Beijing. He didn’t offer specifics on Hyundai’s wage costs in China.
And though the laws of supply and demand made this development inevitable, the story of the decline of China’s low-wage manufacturing base is a lot more interesting than you might think. After all, economic and historical forces may seem mechanical in the abstract, but on the ground level they work in dramatic, disruptive ways.
Though the Obama Administration has announced the broad outlines of its 2017-2025 CAFE standard, the final rule wasn’t supposed to be released until the end of this week… and now, according to Reuters, it is delaying that release until mid-November. According to Reuters
The administration would, with a short delay, remain on track to meet its deadline for issuing final rules next July, five years before they take effect. That timeline gives the industry room to plan its vehicle mix and make any production or technology changes…
But sources familiar with the matter said the work is complex and time consuming. Regulators, they said, are purposely moving slower than anticipated to ensure that industry, environmental and consumer issues likely to be raised during a lengthy public comment period are addressed ahead of time.
Regulators also want to make sure the proposal can clear the White House budget office, which reviews proposed regulations, in a timely fashion.
But even as regulators work to anticipate criticisms of the new standard, more criticisms are materializing. From the mitigating impact of loopholes added late in the process to the regulation’s effect on jobs, the CAFE criticisms are stacking up.
Toyota will allegedly launch a new compact hybrid in January that will deliver a record low gasoline consumption of 40 km per liter. On a straight (non EPA) conversion, that would be a jaw-dropping 94 miles per gallon.
What’s less, the car “will not only beat the Prius’ 32km fuel economy, but also likely sell for around 1.7 million yen, around 300,000 yen cheaper than the Prius,” says The Nikkei [sub]. Read More >
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