Richmond International Raceway’s (RIR) three-quarter-mile oval is one of the country’s best tracks. The track is fast and racecars are always in view of all spectators. What I like best about RIR is the fact that as a spectator you can actually get up and walk around the track during the race: as long as [...]
It appears the days are numbered for California’s last automotive production facility. Sources with knowledge of the situation say the Japanese automaker will most likely wind down its share of the New United Motor Manufacturing Inc. plant it once shared with General Motors, ending the employment of the only UAW workers building Toyota products.
On Thursday, [...]
Yoshimi Inaba, Toyota’s top executive in the U.S., says the company’s American operations are no longer profitable. Inaba, a Toyota executive vice president is the president and chief operating officer of Toyota Motor America and CEO of Toyota Motor Sales USA.
This is a major problem for Toyota, which gets the majority of its profit from [...]
General Motors today announced its long-running partnership with Toyota will end in August.
In a prepared statement, Troy Clarke, president of GM North America, said: “As part of its long-term viability plan, General Motors has decided that its ownership stake in the New United Motor Manufacturing Incorporated (NUMMI) joint venture with Toyota will not be a [...]
Dealers that are having their franchises revoked are getting special attention from Toyota, according to an inside source. Toyota personnel are traveling the country and recruiting former Chrylser and soon-to-be-former GM dealerships, offering them the opportunity to switch franchises. They will not be reimbursed for the cars and parts they have, which are to be [...]
Toyota today reported an annual operating loss of about $4.4 billion on revenues of $206.8 billion. This is the company’s first operating loss in 70 years.
Analysts were expecting a smaller loss of $3.5 billion and Toyota had predicted a similar loss and slightly higher revenues of $211.6 billion in February.
Last year, Toyota earned profits of [...]
General Motors announced better than expected U.S. sales for April 2009, with an overall drop of 34% compared with April 2008. By losing less, GM has gained market share against Toyota, but lost ground to Ford.
Toyota’s U.S. sales fell 42% in April 2009 compared with April 2008, with Lexus falling 39%.
Ford’s U.S. sales of Ford, [...]
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