In Brazil sales numbers are also coming in. See tables below. The story is the opposite of last month. This time around: month to month, good; year to year, bad. Flip flop! Read More >
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Category: Toyota
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Toyota ReviewsToyota 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. |
Honda may not have suffered from a recall crisis the way Toyota did earlier this year, but its sales are equally flaccid this month, increasing only six percent in a month when the market grew by double digits. Because it doesn’t have a convenient excuse for this weakness, one is forced to conclude that its products simply aren’t resonating with consumers. Accord grew by less than 12 percent, despite including sales of the brand-new Crosstour CUV, which means the sedan has gone soft as the new “wagon” sold 1,848 units. Insight continues to flounder, failing once again to crack 2k units, and the ZDX appears to be just the latest unpopular product for Acura, selling only 265 units last month. Without solid growth from reliably popular products like Civic (+26.3%, 26,474 units), CR-V (+17%, 16,041 units), MDX (+63.8%, 3,847 units) and TSX (+33%, 2,510 units), Honda would be in deep, deep trouble.
Despite struggling with a recall scandal early this year, Toyota has held on for a 10 percent sales increase in the first half of 2010. Of course, that achievement had a cost, namely a huge first-half binge on incentives. Now that Toyota is dialing back the spiffs, its sales are becoming downright flaccid, expanding only 7 percent in a June that saw 11 percent market growth. That means Toyota is slowly falling behind, now that it no longer has either an untouchable reputation or record incentives. Old standbys like the Camry and Corolla may have increased, but only to the tune of single digit growth. Meanwhile, Lexus, Scion and Toyota cars performed worse than June of 2009, leaving trucks to bring Lexus and Toyota sales up into the low double digits. Toyota’s hybrids sold 14,639 units, despite a decline in Prius sales, which still make up the bulk of Toyota’s hybrid sales. Toyota has not published fleet or retail numbers. Full volume numbers after the jump.
As the following table will demonstrate, June sales rose a tepid 14 percent over an extremely low June in the year before. 860,004 light vehicles had changed hands in June 2009, a drop of 27.7 percent from June 2008. This June, 983,821vehicles left dealer lots, nowhere near the 1,189,518 units that were sold in June 2008. Read More >
It’s that time of the month again. Today, sales in the U.S. will be reported. “Yucky” will probably be their nicest adjective. “U.S. auto sales this month probably posted the smallest increase since February as consumers concerned about unemployment and the economy avoid large purchases, analysts said” to Bloomberg.
Analysts polled by Bloomberg think June SAAR will be anywhere between 10.4 and 11m, the averaged number comes out to an annualized rate of 11.2 million units. More than last year’s horrendous June number of 9.7m, but less than 11.6 million in May. There will be little reason to celebrate. Read More >
Pre-recall, Toyota was the company to emulate. It was very profitable, its business and production model was the envy of the world (with Lexus-owning Alan Mulally praising it) and it had an iron grip on quality and reliability (even though Honda could have had that title). Then came “acceler-gate”. Customers were petrified their Toyotas would creep out of their garages and run them down in the middle of the night. The government held numerous show trials senate hearings to give the illusion that it was protecting the American people from the nasty foreigners. Only an outcast few questioned the fact that the hearings were conducted by an entity which held significant stakes in two of Toyota’s competitors. If you think about it, is like going to trial on a murder charge and the judge and jury are made up of members of the victim’s family. Yes, it looked like Toyota was down and out. Then, something amazing happened. The ABC News’ “story” on Toyota acceleration was found to be a fake. Customers’ accounts of Toyotas going wild were exposed as lies and some countries stuck by Toyota. So after this roller-coaster ride, was else could happen? Well… Read More >
It’s no fun knocking Tesla. Having spent my most formative years growing up just South of the Silicon Valley, and as a lifelong resident of the West Coast of the United States, Tesla’s the closest thing I’ve got to a home team in the auto industry. In fact, as I write this, a Tesla-branded coffee mug, sits due East of my keyboard, a thoughtful housewarming gift from a kind family friend. This unexpected gift, and the frisson around Tesla’s newly-public stock price prove that there’s a lot of excitement around the California upstart. Unfortunately, Tesla is but a small, inexperienced fish swimming in the global shark tank of the auto industry. Now, one of the big sharks, Volkswagen, is beginning to circle for the kill.
Read More >
Two weeks in a minivan with three kids? There but for the grace of god goes this childless 20-something. Luckily our man Karesh is made of sterner stuff, and was happy to put the 2011 Toyota Sienna through its real-world, families-are-no-place-for-the-weak paces. Here, in pictures, are some of his impressions.
My in-laws live in an Arkansas county that only received its first traffic light in the late 1990s. So it goes without saying that there’s no major airport nearby. Pay airfare for six then still need to rent a three-row vehicle and drive for a few hours? We simply drive the full 800 miles. Extend the route to include Nashville, Memphis, and Chicago, and could there be a better way to test the redesigned 2011 Toyota Sienna?
So Tesla lost $30m last quarter. Do you know who made $20m in profits on Tesla in one day? Read More >
An odd collection of 35 companies and organizations, amongst them the correspondence school Benesse, and the convenience store chain Lawsons, established an association yesterday in Japan to promote electric vehicles. It’s called “APEV,” as in “Association for the Promotion of Electric Vehicles.” (Apparently, beyond Japan.) There is only one problem … Read More >
TTAC reader JeremyR writes:
My trusty 20-plus-year-old Accord is getting a bit long in the tooth, and I’m starting to think about a replacement. While the car will be used primarily for commuting, I’d like to maximize the “fun to drive” quotient while respecting some other requirements:
* must have a manual transmission
* must be reasonably efficient (30mpg+ highway)
* must be reliable (though I don’t mind occasionally getting dirt under my fingernails doing some maintenance)
* must be able to seat four in reasonable comfort (the back seat should be adequate to transport two adults across town)
* should be a five-door hatch (but other configurations will be considered)
* should be under $10K (USD)
A source tells Reuters [UPDATE: Tesla confirms in press release] that Tesla has
sold 13.3 million shares for $17 each, raising about $226 million. It raised the number of shares it hoped to sell by 20 percent. It had planned to sell 11.1 million shares for $14 to $16 each.
That’s more than the “as much as $213m” number floated earlier, but with a recent Toyota deal and an EV-infrastructure bill in congress, Tesla has as much wind at its back as it can ask for. But if investors do get to start trading Tesla stock starting tomorrow, they’ll have a gut check before long. Tesla lost $30m last quarter, and it the second quarter ends on Wednesday. If those numbers show another healthy loss, investors will look away knowing that they’re in a risky, long-term investment. But can a $1.6b market-cap firm really compete in development, design and manufacturing with the giants of the automotive world simply by taking in two times its 2009 revenue in one IPO?
Remember the miracle carburetor that would have halved the gasoline consumption, if the wicked oil companies would not have bought the patent and locked it away? As a matter of fact, the lowly ICE has made great strides when it comes to reducing consumption, a drive that has traditionally been championed in Europe and to some degree Japan. Read More >
Nothing is worse than turning into something you’re not. I am not my father, and yet here I am besmirching his Curbside Classic series with this mystifying find. This Mk1 Scion xB is emphatically not a HUMMER, and yet… well, just look at it.
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