|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||7,760.00 - 7,818.50|
|52-week range||7,760.00 - 789,515.00|
|Beta (5Y Monthly)||0.88|
|PE ratio (TTM)||11.72|
|Forward dividend & yield||200.00 (2.61%)|
|1y target est||N/A|
Dec.09 -- Vietnam’s richest man and founder of auto startup VinFast is trying to do something not even Toyota and Hyundai could do when they were fledgling companies – sell a car in the U.S. Bloomberg’s Oanh Ha reports on “Bloomberg Daybreak: Asia.”
Dec.05 -- James Kuffner, chief executive of Toyota Research Institute - Advanced Development, discusses his work on self-driving car technology, competition in the industry and the timetable for delivering software to consumer vehicles. He spoke with Bloomberg's Erik Schatzker in Tokyo. (Toyota Research Institute-Advanced Development's capital is 90% controlled by Toyota.)
Here at the 2019 LA Auto Show, Toyota revealed the RAV4 Prime, a plug-in hybrid version of it's popular RAV4 SUV. The RAV4 prime can travel more than 35 miles in electric only mode, and packs some impressive power, with a 0-60 faster than any other Toyota except the high-performance Supra. This is a seriously speedy hybrid.
Lentz, a 38-year-veteran of Toyota, said his long tenure including almost seven years at the helm was in part a function of the automaker's culture. "We have a long-term view of things and try to keep our eyes on the horizon and not get sea sick with all the dips and twists and turns," Lentz, 64, said in an interview.
(Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.The billionaire behind six-month-old Vietnamese auto startup VinFast plans a feat even Toyota Motor Corp. and Hyundai Motor Co. couldn’t pull off during their early days: sell a car in the U.S.Pham Nhat Vuong, the Southeast Asian country’s richest man and now in charge of the new automaker, is so intent on exporting electric vehicles to the lucrative American market in 2021 that he’s plowing as much as $2 billion of his own fortune to reach that goal. His cash would account for half the capital investment of VinFast, which began delivering cars to Vietnamese consumers with BMW-licensed engines earlier this year and aims to expand into electric vehicles.“Our ultimate goal is to create an international brand,” the 51-year-old tycoon said in an interview at the Hanoi headquarters of the car company’s parent Vingroup JSC, which Vuong founded and holds the title of chairman. “It will be a very difficult road and we will have to put in a lot of effort. But there’s only one road ahead.”The homegrown cars made under Vuong’s sprawling real estate-to-hospitals conglomerate faces an uphill battle to succeed overseas. Carmakers such as India’s Tata Motors Ltd. and Malaysia’s Proton Holdings Bhd. struggled to win over consumers away from their home turf. Even in Vietnam, VinFast Trading and Production LLC has formidable competition from established foreign players such as Toyota, Ford Motor Co. and Hyundai.Shares of Vingroup fell as much as 2% Tuesday. The benchmark VN Index of Vietnamese stocks dropped 0.6%.VinFast follows a long list of Chinese automakers that have also had ambitions to sell vehicles in the U.S. going back more than a decade. Though the plans have yet come to fruition, Guangzhou Automobile Group Co., Zotye Automobile Co. and others have set up local sales units and research-and-development operations to show just how serious they are. Some Chinese brands have also exhibited at American auto shows in recent years.Vuong, whose net worth is $9.1 billion, according to the Bloomberg Billionaires Index, is undaunted. Vingroup sold some shares last year and he plans to sell as much as 10% of his own to raise funds for the ambitious project. He owns 49% of VinFast, while the parent, Vingroup, holds 51%.The automaker won’t be profitable for as many as five years, said Vuong, adding the local market is “too small” and overseas sales are key to becoming profitable. Vuong directly owns 26% of Vingroup, according to Bloomberg data. Vietnam Investment Group JSC, in which Vuong has about a 92% stake, holds 31.6% of Vingroup.And VinFast will have to overcome an even more daunting task of winning over demanding consumers in the U.S. and other developed markets, where emissions and crash standards are stringent.Adding to these challenges is successfully manufacturing and selling electric vehicles. Many Chinese startups, backed by billions of dollars in funding, bet on the prospects for EVs in the world’s biggest auto market, but few are making money. BAIC BluePark New Energy Technology Co., China’s biggest maker of pure electric cars, forecasts a 2019 loss. Unprofitable NIO Inc., which is traded in New York, has struggled to assuage concerns that it’s running short on cash amid sputtering demand.High HurdlesVinFast’s first EV won’t roll off its assembly line until late next year, but Vuong said he plans to export those vehicles to the U.S., Europe and Russia in 2021.VinFast must clear several high hurdles to compete outside Vietnam, said Michael Dunne, chief executive officer of automotive consultant ZoZo Go LLC, which specializes in the Asian market. “It will be some time before the company is ready to compete in the U.S. -- still the world’s toughest market,” he said. “You need a solid brand name.”Many consumers prefer a second-hand Honda Motor Co. or Toyota vehicle over a new car with an unfamiliar brand name, Dunne said. The Vietnamese automaker will need to produce at least 100,000 vehicles a year to be cost competitive, develop a global brand and establish a parts-and-services network, he said. Still, VinFast has an opportunity to crack smaller Southeast Asian markets, he said.VinFast, which operates a 335-hectare factory in the northern port city of Haiphong, is selling its first line of vehicles -- a hatchback, sedan and SUV -- at below cost. The hatchback retails for the equivalent of $17,000, while the four-cylinder sedan goes for $47,400 and its SUV is offered at $60,400. The company targets production of as many as 500,000 vehicles a year by 2025. The carmarker also makes electric scooters.In the next few years, Vingroup will have to spend “many trillions of dong per year” to cover losses for VinFast, estimated at as much as 18 trillion ($777 million) annually, Vuong said. Those losses include financing and depreciation, and as much as 7 trillion dong each year to absorb the hit of selling cars below cost, he added.Vingroup will divest stakes in other units to fund VinFast while other subsidiaries have been ordered to reduce costs, Vuong said, without providing details. VinFast will also seek additional loans, in addition to about $1.95 billion of international loans it has already raised. Vuong also plans to list VinFast on a Vietnamese exchange and possibly overseas, he said, without elaborating.“We have the desire to build a Vietnamese brand that has a world-class reputation,” he said. “Our biggest challenge is that Vietnamese products do not have an international brand. To many international friends, Vietnam is still a poor, backward country. We will have to find a way to market and prove our products represent a dynamic and developing Vietnam that has reached the highest standards of the world.”(In an earlier version, company corrects share sale information in 7th paragraph to say Vingroup sold some shares last year, not the founder.)\--With assistance from Ville Heiskanen.To contact the reporters on this story: Nguyen Kieu Giang in Hanoi at firstname.lastname@example.org;K. Oanh Ha in Hong Kong at email@example.comTo contact the editors responsible for this story: John Boudreau at firstname.lastname@example.org, Sam NagarajanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Toyota Motor Corp. has a problem with selling its hybrids -- it can’t get enough of them.“The only thing holding us back on hybrids is capacity,” Bob Carter, Toyota’s North American executive vice president for sales, told reporters on Thursday at an event in Detroit. “We can’t make enough Corolla and RAV4 hybrids.”While many of its competitors are walking away from hybrids and plowing billions into battery-powered cars, the Japanese automaker has seen demand surge for its 14 gasoline-electric models. Toyota’s hybrids accounted for 13% of total Toyota and Lexus brand sales in the U.S. last month and made up nearly a quarter of the volume for its top seller, the RAV4 compact SUV.Toyota could easily sell twice the number of hybrid RAV4 models, but can’t source enough electric batteries for the popular vehicle, Carter said. It currently has an 11-day supply of them in stock, compared to more than 20 days’ supply of gasoline-powered versions, he said.Carter said the RAV4 hybrid’s appeal has as much to do with features like sporty styling, extra torque and all-wheel drive as it does with its combined 40 miles per gallon fuel economy -- 10 mpg above the gas-only model.Toyota plans to shift production of the RAV4 hybrid from Canada to a plant in Kentucky early next year, and also add a plug-in hybrid option from next summer to be imported from Japan. But that growing demand for hybrid versions of the RAV4, Corolla and other Toyota vehicles has come at the expense of its most famous hybrid, the Prius, sales of which are down 21% so far this year.To contact the reporter on this story: Chester Dawson in Southfield at email@example.comTo contact the editors responsible for this story: Chester Dawson at firstname.lastname@example.org, David Welch, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
May Mobility, a Michigan-based startup that is operating autonomous shuttle services in three U.S. cities, has raised $50 million in a Series B round led by Toyota Motor Corp. The funding, which comes less than a year after May Mobility raised $22 million, will be used to expand every aspect of the company, including its AV shuttle fleet, as well as its engineering and operations staff. May Mobility has 25 autonomous low-speed shuttles spread out between Detroit and Grand Rapids, Michigan and Providence, Rhode Island — the three cities in which it operates.
Tesla’s biggest competitor isn’t producing electric vehicles, but is at the center of a surge in support for hydrogen and fuel cell vehicles, a technology that’s quickly taking over the heavy trucking segment
(Bloomberg) -- China’s once-in-a-generation car slump is hobbling carmakers around the globe that placed their bets on what is the world’s biggest auto market. But one group is weathering the slowdown unscathed: Japan.Iconic car companies like Toyota Motor Corp. and Honda Motor Co. are increasing sales in a market that has fallen almost every month since June 2018. They’re doing it by targeting what’s proven to be a sweet spot in the faltering market -- demand for hybrid gasoline-electric cars. Japanese automakers are leaders in the technology, which appeals to Chinese consumers keen to heed the government push toward new-energy vehicles, but aren’t ready to shift to pure-electric autos just yet.“The hybrid I drive now is as reliable as the one I used before but more fuel-efficient,” said Charles Wang, who bought a hybrid Toyota Camry in 2019 after driving a gasoline-powered Honda Accord for six years. “I never regretted my choice of sticking to Japanese cars.”Toyota, maker of the pioneer hybrid model Prius, and peers Honda and Nissan Motor Co. have been early adopters of the technology that combines an internal combustion engine with an electric motor. That’s allowed them to keep sales humming even as demand for gasoline cars wanes and pure-electric vehicles are yet to catch on.Japanese brands boosted sales 4.3% in the first first 10 months of the year, outpacing U.S., European, South Korean and Chinese rivals, according to China Passenger Car Association. Japan is now close to overtaking Germany as the biggest foreign car power in China, though Germany is benefiting from resilient demand for its premium models.Sales of Japanese brands’ hybrids have risen about 30% this year in China to more than 220,000, making the vehicles one of the fastest-growing market segment, according to the association. Japanese carmakers control about 99% of the traditional hybrid market in China, according to numbers from consultancy WAYS Information Technology Co. that exclude plug-in vehicles.Among the reasons shoppers are going for hybrids is range anxiety -- the fear that an electric car’s battery runs out and leaves the driver stranded. China’s charging infrastructure is in early stages, though manufacturers and the government are trying to hasten a buildout.Hybrid demand has also been spurred by those buying a second car, as such customers are more likely to be concerned about fuel consumption, said Cui Dongshu, secretary general of CPA.What’s more, providers of mobility services such as car-sharing and ride-hailing are also increasingly moving to hybrids for their fuel efficiency, Cui said. So even if such services will reduce the total sales of cars, the Japanese manufacturers may be less affected than others.Guangzhou Automobile Group Co., which makes cars with both Toyota and Honda, has benefited from robust demand for models such as Camry, Yaris and Accord. GAC Toyota boosted sales 17% and GAC Honda 7% in the first 10 months of the year. That compares with a 11% slump in total industry deliveries, according to China Association of Automobile Manufacturers. Guangzhou Auto shares slipped 0.3% Friday morning in Shanghai after earlier rising as much as 2.2%.To ride the trend, Japanese companies touted their new hybrid models at the Guangzhou Auto Show last week. Those include the new Wildlander sport utility vehicle by Toyota and Honda’s Breeze, an SUV that comes in both hybrid and gasoline variants.GAC Honda is preparing to expand its production capabilities in 2020 after running at 120% capacity this year. GAC Toyota plans to add new models annually over the next three years.“GAC is full of confidence in our two Japanese car ventures’ future development,” the carmakers said in a statement responding to Bloomberg’s inquiry. “GAC Honda and GAC Toyota will enlarge its product lineup and add more capacity in line with market demand.”Thus far, the Japanese brands have also weathered China’s cooling economy relatively well. Less-affluent customers in regions outside big cities have been more affected by the slowdown, weighing on sales of lower-end local brands but sparing the mid-prized offerings of Toyota, Nissan and Honda. The lower-end slump has pushed the car industry’s total sales down in 16 of the past 17 months.“Consumers of Japanese-brand cars are mainly middle-class buyers with steady and decent income,” said PCA’s Cui. “They are less impacted by the slowing economy.”(Updates with Guangzhou Auto shares in 10th paragraph)To contact Bloomberg News staff for this story: Tian Ying in Beijing at email@example.comTo contact the editors responsible for this story: Young-Sam Cho at firstname.lastname@example.org, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Toyota Motor Corp on Tuesday said Japanese labour officials have found it responsible for the suicide of an employee, with the Mainichi Shimbun reporting that workplace bullying at the automaker had led to the employee's death. Toyota City's labour standards officials had been investigating the 2017 suicide of a Toyota Motor employee, a spokesman at the automaker confirmed to Reuters.
Toyota Motor Corp on Tuesday said Japanese labor officials have found it responsible for the suicide of an employee, with the Mainichi Shimbun reporting that workplace bullying at the automaker had led to the employee's death. Toyota City's labor standards officials had been investigating the 2017 suicide of a Toyota Motor employee, a spokesman at the automaker confirmed to Reuters.
California said on Monday it will halt all purchases of new vehicles for state government fleets from GM, Toyota, Fiat Chrysler and other automakers backing U.S. President Donald Trump in a battle to strip the state of authority to regulate tailpipe emissions. Between 2016 and 2018, California purchased $58.6 million in vehicles from General Motors Co , $55.8 million from Fiat Chrysler Automobiles NV , $10.6 million from Toyota Motor Corp and $9 million from Nissan Motor Co .
While 2030 has been earmarked as the breakthrough year for autonomous vehicles, several industry leaders believe self-driving cars remain little more than a pipedream
TOKYO/SHANGHAI (Reuters) - Chinese electric car maker BYD Co Ltd and Japan's Toyota Motor Corp said on Thursday they planned to set up a joint venture to design and develop battery electric cars as they ramp up efforts to produce zero emissions vehicles. The two companies said in a statement that they would each invest 50% of the capital needed to establish the company, which will be set up next year and be based in China. Widely considered a late comer in embracing battery EVs, compared with rivals including Nissan , Toyota had flagged in June that it aimed to get half of its global sales from EVs, including gasoline hybrids, by 2025, five years ahead of schedule.
Toyota Motor Corp plans a $1.8 billion share buyback, Japan's biggest automaker said on Thursday, after beating quarterly forecasts on higher global vehicle sales and an improved performance in North America. Operating profit rose 14% to 662.3 billion yen (£4.7 billion) for the three months to September 30 as Toyota enjoyed its strongest second quarter since 2015. Sales in North America, Toyota's biggest market, rose 5.6%, while sales in Asia climbed 3.4%.
Toyota Motor Corp plans a $1.8 billion share buyback, Japan's biggest automaker said on Thursday, after beating quarterly forecasts on higher global vehicle sales and an improved performance in North America. Operating profit rose 14% to 662.3 billion yen ($6.1 billion) for the three months to September 30 as Toyota enjoyed its strongest second quarter since 2015. Sales in North America, Toyota's biggest market, rose 5.6%, while sales in Asia climbed 3.4%.
Major automakers are siding with the Trump administration in its bid to bar California from setting its own fuel efficiency rules or zero-emission requirements for vehicles, the companies said in a filing with a U.S. appeals court late on Monday. The move by firms including General Motors Co , Toyota Motor Corp , Hyundai Motor Co , and Fiat Chrysler Automobiles NV , follows legal challenges by California and 22 states and environmental groups in September.
When Toyota Motor Corp launches its all-battery Lexus next year, the luxury model will be able to drive autonomously on highways, a big step for the Japanese automaker, which has so far trailed rivals in bringing self-driving cars to market. Announced at the Tokyo Motor Show this week, the new Lexus shows how Toyota is putting its research on self-driving technology to work in cars that have limited automation. Right now, component manufacturers and venture companies working on the technology "are revising their timeline for AI deployment significantly," Executive Vice President Shigeki Tomoyama told a small group of reporters this week.
In Japan, trucks are being designed for a driverless future with no cabin and interchangeable container areas that would allow vehicles to be highly customised for parcel delivery or even serve as mini-hotels or beauty salons. At the Tokyo Motor Show this week, Hino Motors , the truckmaking arm of Toyota Motor Corp , showcased the futuristic "Flatformer", which had no driver's cabin and where the low-riding bed is fixed but the cargo or container section can be swapped out. On display was a concept battery-electric model with a cargo hold divvied up into stacked storage boxes that would help parcel delivery companies to sort, load and deliver goods more efficiently.