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.
What happens when the man behind the McLaren F1 decides to chuck in the go-fast nonsense and devote his considerable energies towards developing a “revolutionary” city car? You’re looking at it. Autocar caught this first image of Gordon Murray‘s three-seat T.25 testing in the UK, and from the looks of it, all the talk of this car creating a new segment wasn’t just talk. We knew it was going to be small, but my god is it ever small. And, as Autocar reports, this first image of the T.25’s near-production look shows off one of its most distinctive features:
Our exclusive photograph shows the car’s compact dimensions and reveals the revolutionary single door for the first time. It swings upwards and forwards to allow cabin access for all three occupants.
As a further sign that (most) of the world is slowly crawling out of the dumps, Japanese car companies report (sometimes sharp) increases in overseas production, says The Nikkei [sub]. Read More >
One would think that with all the recalls, Toyota would be looking at a hefty loss for fiscal 2009, which ended on March 2010. Toyota itself thought the same. Well, not hefty, but last projections saw a loss in the neighborhood of $200m. A loss is a loss, and it would have been the 3rd lost year in a row. Toyota bean counters went over the books with a fine tooth comb. And guess what they found? Read More >
Thank you so much for the warm welcome last week! I appreciate all your comments and encouragement and look forward to sharing more about auto show life with you.
A comment on my last column caught my eye. The gist of it was why bother with “booth babes” or professional presenters at all? Why not just have sales people or the actual engineers at the shows? It is a question that has been asked of me multiple times in different forums, so I’d like to address it in greater detail here. Read More >
TTAC Exclusive:
The cars, the girls, the generals, and the news of the Beijing Motor Show
Day two of the Beijing Auto Show. It’s a Saturday morning, traffic is supposed to be light (by Beijing standards) – but boy are we wrong. The roads are clogged. All traffic flows north, towards the fairgrounds. Again, this is the second day for accredited media only. Yesterday, when we left the show, there were lots of traders offering money for the press passes. Which they resold to waiting customers for a hefty mark-up. The take was quickly put in circulation, and all of Beijing is headed to the show. Come along Read More >
With Senator Chuck Grassley (R-IA) already taking the White House and Treasury to task for possibly helping GM avoid paying the “TARP Tax,” Republican representatives Darrell Issa (R-CA) and Lamar Smith (R-TX) are attacking the auto bailout from another angle, writing a letter to nine automaker CEOs requesting clarification of the negotiating process that led to recently-passed final rules on a ramp-up of greenhouse gas (GHG) emissions standards. In their press release on the issue, Issa and Smith note:
It is unclear whether the Administration used leverage created by the possibility of a taxpayer bailout of GM and Chrysler to secure their cooperation and support for new fuel economy standards. Moreover, there is reason to believe Administration officials used inappropriate tactics to ensure broad based support across the industry. Given the clear conflict-of-interest issues at play, which naturally arise when the government is in a position to pick winners and losers and impact the future viability of private entities, it was imperative that the Administration act with the utmost transparency. Instead, the White House imposed an unprecedented level of secrecy.
Are Issa and Smith on to something, or is this simply a partisan dogpile on an unpopular policy? Hey, this is politics… does it even matter?
918 M Spyder at the Beijing Motor Show. Picture courtesy Bertel Schmitt
TTAC Exclusive: The cars, the girls, and the news at the Beijing Motor Show
Media day at the Beijing Auto Show. Had to get up at 6am to get from downtown Beijing to the new fairgrounds. Had to experience my first Beijing rush hour. Usually, I walk to the office. One flight of stairs down. Barely got to the fair on time for the press registration before 9am. Here is Friday’s pictorial. Read More >
Yabe! (Oh shoot.) As the sun set over Toyota City and Tokyo, Toyota’s execs andSararimen (salary men) alike were crying in their sake. Today was a sai aku (very bad) day. A day everybody at Toyota most likely would want to forget. No, no recall for a change. There isn’t much left to recall anyway, or so it seems.
The sai aku day started with Moody’s downgrading Toyota’s formerly stellar credit rating to “its lowest-ever level,” as The Nikkei [sub] laments. Moody’s came to the somewhat belated conclusion that “multi-million vehicle recalls and safety issues raise questions about its profitability and ability to stay ahead of rivals on pricing power until 2012 at the earliest.”
To make matters even more sai aku, Moody’s warned that its outlook for the rating remains negative. Why the pessimism? Read More >
You might think that, when confronted with its first major quality crisis, Toyota would have responded by upping its spending on DC lobbying. After all, when Washington has painted a target on your back, it’s usually a good time to hire a few well-connected friends. But then, a good deal of the congressional scrutiny aimed at Toyota has focused on the company’s lobbying efforts in the first place, especially after the House Oversight Committee leaked Toyota briefing documents that showed the company had successfully negotiated away penalties for defects. Perhaps then, Toyota’s decision to reduce lobbying spending in the first quarter of this year was a reaction to accusations that the automaker manipulated the NHTSA. Or maybe the Japanese firm simply decided that its huge lobbying budget simply wasn’t winning it any friends. In any case, Automotive News [sub] reports that Toyota spent a mere $880k on lobbyists last quarter, down nearly a third from its $1.3m Q1 spend in 2009. And, according to the Toyota report cited by AN [sub], defect recalls don’t even enter into the equation, as Toyota merely
lobbied the House and Senate on such issues as making it easier for workers to unionize, patents, financial regulation and energy matters
Meanwhile, as the image above proves, Toyota wasn’t going to be able to match the lobbying power of a GM anyway.
While all eyes are on the Beijing Auto Show, which starts by the end of this week, manufacturers are looking at plots of land and architect plans for new plants. According to The Nikkei [sub], carmakers are adding capacity to keep up with the ravenous appetite of the world’s largest car market.
Already a good year into its hype-cycle, Toyota’s much-discussed FT-86 sports coupe is apparently losing some of the focus that made it an instant (theoretical) hit with enthusiasts. According to Autocar, Toyota has given up on its price point goal of $20,000 for a base model in the Japanese market, bumping MSRP targets to $23k for a base model and $26k for loaded examples. No word on how this will affect US-market prices, which Toyota has never disclosed goals for. And if this were the only news coming out of FT-86-land, we might have ignored it altogether. Sadly though, the price shift reflects larger trends within the FT-86’s development, none of which are wildly promising from the perspective of the enthusiasts that this car was allegedly being built for.
Driving enthusiasts love to hate the Toyota Camry. Yet, despite the company’s current troubles, it remains the best-selling car in the United States. Hyundai would love to steal the crown, or at least tens of thousands of customers. So it recently launched a totally redesigned 2011 Sonata and will be advertising it heavily. Should Toyota be concerned?
The fabled Mercedes “Shooting Break” (or Brake ) is one step closer to productiondom. Gasgoo reports that the Shooting Break will make “its world debut at the Auto China motor show later this week.” Meaning Friday, the 23rd. TTAC will be there. Read More >
Ever since a debt crisis toppled the already-precarious auto sector into undeniable crisis there’s been a running debate about when US car sales would “return to normal.” By now though, even the most ardent bulls seem to have accepted that 2007’s 16m number will be out of reach for at least several more years. So, how will we know when we’ve hit the new normal? According to Edmunds, at least one statistic roared back to 2006 levels last month: the percentage of sales financed at zero percent.
In March, more than 22 percent of financed new cars were purchased with zero-percent finance deals. Last March the total was just 13 percent. The prior high was 21 percent in July 2006.
The motoring public in Queensland, Australia has foiled a police effort to deploy “covert” speed cameras across the state. Police have expanded their fleet of unmarked vehicles equipped with automated enforcement devices in an effort to boost the number of citations issued. The idea is to ensnare drivers “anywhere, anytime” by blending in with ordinary vehicle traffic in vehicles as diverse as a Toyota sedan, a Volkswagen Golf, a Mitsubishi Lancer, a Subaru WRX, a Hummer H2, and various types of trucks and SUVs.
What happens when the man behind the McLaren F1 decides to chuck in the go-fast nonsense and devote his considerable energies towards developing a “revolutionary” city car? You’re looking at it. Autocar caught this first image of Gordon Murray‘s three-seat T.25 testing in the UK, and from the looks of it, all the talk of this car creating a new segment wasn’t just talk. We knew it was going to be small, but my god is it ever small. And, as Autocar reports, this first image of the T.25’s near-production look shows off one of its most distinctive features:
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