Toyota Motor Stock Price, News & Analysis

Toyota has announced the winners of the 2023 Dream Car USA Art Contest, highlighting youth creativity in automotive design. The contest encompassed three categories for ages 4-15, with winners selected for their innovative concepts. Key winners include Mirabelle Gu (Gold, 4-7), Kaavya Jethwani (Gold, 8-11), and Lingfei Coco Truong (Gold, 12-15). The awards encourage future mobility ideas and align with Toyota's commitment to sustainable transportation. The contest is part of a global initiative, with the U.S. participants representing their designs in a worldwide competition.

A class-action lawsuit has been filed against Toyota Motor Sales, USA regarding roof-rail defects in 2019-2021 RAV4 models. The lawsuit claims that defective roof-rail systems cause leaks, resulting in severe water damage, electrical failures, and rendering the vehicle unsafe. Plaintiffs, represented by Saltz Mongeluzzi Bendesky, P.C., allege that Toyota concealed knowledge of these defects and refused to cover repair costs. The complaint highlights potential health risks from mold exposure and asserts that later models have addressed the issue. Owners demand accountability and a nationwide recall to prevent further safety incidents.

Toyota Motor North America (TM) announced the addition of Gabby Thomas and Ezra Frech to its Team Toyota roster of Olympic and Paralympic athletes. Gabby Thomas, a two-time Olympic medalist, is noted for her remarkable achievements in track and field, including a record-breaking 200m trial time. Ezra Frech, a disability advocate and Paralympic competitor, aims to improve access to sports for individuals with disabilities. The initiative strengthens Toyota's commitment to mobility and inclusiveness as they prepare for the Paris 2024 Olympics.

On March 24, 2023, the Toyota Production System Support Center (TSSC) celebrated its 30th anniversary, highlighting its impact on over 500 partners across various sectors. TSSC utilizes the Toyota Production System (TPS) to enhance productivity and operational efficiency, benefiting organizations like food banks, healthcare facilities, and local businesses. Their collaborative projects, including work with the St. Bernard Project and Harbor-UCLA Medical Center, resulted in significant improvements, such as reducing home rebuilding time by 48% and eliminating surgical waitlists. This initiative underscores Toyota's commitment to community support and innovative problem-solving.

On March 6, 2023, Toyota announced the winners of its inaugural "Need a Nudge" contest, awarding $10,000 grants to several grassroots organizations across the U.S. The initiative, launched in fall 2022, aims to uplift non-profits making significant community impacts. Over 200 entries were submitted, with the public voting to determine finalists. Lisa Materazzo, Group VP of Marketing, emphasized Toyota's commitment to supporting these organizations. The recipients include UA3, Inc. from New York and others from cities like Detroit, Minneapolis, and Los Angeles. This program highlights Toyota's dedication to community engagement.

On February 28, 2023, Toyota awarded $25,000 scholarships to three Hispanic students through its Nunca Pares (Never Settle) campaign, in partnership with the Society of Hispanic Professional Engineers (SHPE). The recipients, Giana Aguilar-Valencia, Ruben Bonett, and Maximiliano Pombo Hernández, are pursuing studies in STEM fields. This initiative aims to enhance educational opportunities for Hispanic students, acknowledging their perseverance and commitment to innovation. Toyota emphasizes its dedication to supporting the development of future leaders in science and technology, recognizing the importance of diversity in driving innovation.

Toyota Motor North America (TM) has launched the Way Forward Fund, a multi-year initiative aimed at enhancing access to care and recovery support for children with traumatic brain injuries (TBI). With an initial grant of $8.5 million, the fund focuses on communities with significant needs, directing resources towards treatment, research, and technology. Children represent 32% of TBI-related emergency visits, yet funding is primarily directed at adults. The initiative will be guided by an expert advisory board and aims for a long-term impact in pediatric TBI care.

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Toyota has launched the EV Incentive Finder, a free tool on Toyota.com to assist customers in locating eligible incentives for purchasing Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). Developed in partnership with EV Life, this tool utilizes proprietary data to provide personalized quotes for over 470 tax credits and rebates based on user-specific details. The aim is to simplify the process of navigating complex governmental incentives, ultimately encouraging more consumers to consider electric vehicles. The service is now accessible via various devices for enhanced convenience.