Toyota Motor Corporation, the world’s largest carmaker, has cautioned that U.S. import tariffs could slash its annual operating profit by as much as 1.4 trillion yen ($9.5 billion) – the steepest projected impact disclosed by any automaker to date. The Japanese giant also lowered its full-year profit outlook by 16%, now forecasting 3.2 trillion yen…
Toyota’s truck and engine manufacturing subsidiary, Hino Motors, has agreed to a $1.6 billion settlement with U.S. authorities over fraudulent diesel emissions practices. The agreement includes criminal and civil penalties and resolves allegations of selling more than 105,000 diesel engines in the United States from 2010 to 2022 that failed to meet emissions standards. The…
The Japanese government has issued a directive to Toyota Motor Corporation, requiring “drastic reforms” following the discovery of new violations in the company’s vehicle certification procedures. The Ministry of Transport’s corrective order came after on-site inspections revealed intentional misconduct and irregularities in the certification processes of seven additional models that were previously undisclosed. Toyota confirmed…
In a significant recall, Toyota has announced that it will replace the engines in nearly 100,000 Tundra pickups and around 3,500 Lexus luxury SUVs due to a defect that could cause engine power loss while driving. The recall, which was initially announced in early June, affects the 2022 and 2023 model year Toyota Tundras and…
Toyota Motor Corporation is injecting $300 million into its venture capital arm to support early-stage startups dedicated to climate and frontier technologies such as carbon capture, artificial intelligence (AI), and space commercialization. This significant investment raises the total assets under management for Toyota Ventures to over $800 million, a development slated for announcement on Wednesday,…
Toyota has announced a recall affecting approximately 280,000 pickups and SUVs in the United States due to potential safety issues related to the vehicles’ neutral gear function. In a statement released on Wednesday, the Japanese automaker revealed that certain components of the transmission may not fully disengage when the vehicle is shifted into neutral. This…
Japan’s transport ministry is gearing up to take action against Toyota Industries, a subsidiary of Toyota Motor Corp, for allegedly cheating on engine emissions tests, as reported by Nikkei on Monday. According to sources familiar with the matter cited by the newspaper, the ministry is considering various measures, including the possibility of withdrawing certification for…
Toyota has secured its position as the world’s largest automaker for the fourth consecutive year, outperforming its German rival, Volkswagen, despite facing an expanding list of challenges. The Japanese manufacturer announced record sales of 11.2 million vehicles worldwide in 2023, marking a 7.2% increase from the previous year. While Toyota celebrates its sales achievement, the…
In a significant development, Toyota has announced the suspension of shipments for several models, including the popular Hilux truck and Land Cruiser 300 SUV. This decision comes in the wake of irregularities discovered in certification tests for diesel engines developed by Toyota’s affiliate, Toyota Industries. A special investigative committee identified anomalies during horsepower output testing…
In response to a potential safety concern, Toyota has issued a recall affecting approximately 1 million cars and SUVs in the United States. The recall is prompted by a defect that could lead to the failure of the passenger airbag to deploy in the event of a crash. The recall encompasses 15 different models from…
In a significant move reflecting the growing acceptance of hybrid technology, Toyota has revealed that the redesigned 2025 Camry, America’s best-selling car, will be available exclusively as a hybrid. While the Camry currently offers a hybrid version alongside traditional models, the forthcoming redesign marks a strategic shift for the popular sedan. Toyota, known for its…
Toyota has revealed a recall of more than 1.8 million RAV4 vehicles, according to an announcement made by the company on Wednesday. The recall is specific to certain models from the 2013-2018 model years. The reason behind the recall revolves around a potential fire risk associated with some replacement batteries, as highlighted in Toyota’s statement….
Toyota, one of the world’s leading automakers, has announced its decision to switch to Tesla’s charging standard for its electric vehicles (EVs) sold in the United States. Starting in 2025, all Toyota EVs in the US will be equipped with charging ports compatible with Tesla’s North American Charging Standard (NACS), replacing the current Combined Charging…
Toyota vehicles dominate the Nigerian automotive landscape, constituting the largest share of cars on the country’s roads. In fact, for every five cars you encounter navigating Nigerian streets, at least one proudly bears the Toyota emblem. The affinity that Nigerians hold for Toyota automobiles is unmistakable, and the Japanese automaker has firmly established its presence…
Toyota, a leading automobile manufacturer, has initiated a voluntary recall affecting specific 2022 and 2023 Tundra and Tundra Hybrid trucks, marking its most substantial recall action of 2023. The announcement comes in response to a potential safety concern that affects approximately 168,000 vehicles in the United States. On Thursday, Toyota revealed that the identified vehicles…
Toyota, known for pioneering lean car manufacturing, now faces the challenge of catching up to electric vehicle leaders like Tesla, which has found success in producing EVs efficiently and profitably. Tesla’s unconventional approach to both factories and vehicle designs has surpassed Toyota’s traditional methods, prompting Toyota’s deputy chief of global production, Yoshio Nakamura, to acknowledge…
Toyota engineers are working on a unique feature for electric cars – a realistic fake manual transmission. Although a manual transmission on an electric vehicle serves no functional purpose, it is being developed as an add-on for those who enjoy shifting gears in gasoline-powered cars. Toyota, known for its skepticism towards electric vehicles, is planning…
Reports of data breaches resulting in the leakage of millions of user data are not uncommon. However, it is less common for a company to unintentionally publish millions of user data online.Recently, Toyota Motor announced a cybersecurity case that involved its subsidiary, Toyota Connected, where part of the information about 2.15 million users was accidentally…
Automobile manufacturing giant, Toyota has said that demand for its cars, trucks, and EVs remains high, despite a fall in US sales. As reported by Business Insider Africa, the world’s largest automaker by volume was among the major manufacturers to release third-quarter US sales data on Monday. The data showed an overall decline of 7.1%…
Toyota Motor Corp’s profit slumped a worse-than-expected 42% in its first quarter as the Japanese automaker was squeezed between supply constraints and rising costs. As reported by Reuters, operating profit for the three months ended June 30 sank to 578.66 billion yen ($4.3 billion) from 997.4 billion yen in the same period a year ago,…
