Welcome to our dedicated page for Toyota Motor news (Ticker: TM), a resource for investors and traders seeking the latest updates and insights on Toyota Motor stock.
Toyota Motor Corporation (TM) reports developments for a global automaker whose American depositary shares represent ordinary shares of the Japanese parent company. Recurring updates cover Toyota and Lexus vehicle sales, electrified-vehicle lineups, new model campaigns such as RAV4, and product categories that include hybrid, plug-in hybrid, all-electric and hydrogen fuel cell technologies.
Company news also includes Toyota Motor North America activity, U.S. manufacturing investments, sustainability and regulatory leadership changes, and commercialization work for Toyota Hydrogen Solutions. Brand partnerships and marketing programs appear alongside operating updates tied to vehicle demand, production capacity, and corporate governance.
Toyota, Huntsville Utilities, and Toyota Tsusho America announced a $49 million solar project in Huntsville, Alabama, aimed at generating 70% of Toyota Motor Manufacturing, Alabama's power from solar energy. The 30-megawatt solar facility, located near the Toyota engine plant, will produce 62,000 megawatt hours annually, cutting CO2 emissions by approximately 22,000 metric tons. Set to begin construction this spring with operations starting in summer 2024, this initiative aligns with Toyota's goal of carbon neutrality by 2035. The collaboration marks a significant advancement in clean energy production for the region.
Toyota has unveiled the new 2024 Toyota Tacoma, designed to enhance its position as the best-selling midsize pickup in America. The Tacoma showcases the innovative i-FORCE MAX performance technology and promises exciting design and features. With over 39,000 employees in the U.S. and nine manufacturing plants, Toyota remains committed to sustainable mobility, offering 22 electrified vehicle options. The company aims to further enrich its manufacturing capabilities with a new plant in North Carolina dedicated to automotive battery production by 2025. Updates on the Tacoma's design and features are expected soon.
Toyota Motor North America reported March 2023 U.S. vehicle sales of 176,456, a 9.1% decrease from March 2022. Electrified vehicle sales comprised 27.5% of total sales, while total first-quarter sales fell 8.8% to 469,558 units with electrified vehicles at 25.3%. The Toyota division saw a 12% drop in March sales, totaling 150,099, while Lexus division sales rose 12.1% to 26,357 units. Notably, the Corolla HEV and Highlander HEV models showed significant sales increases. Toyota offers 22 electrified vehicle options, the most among automakers, reflecting a strategic shift towards sustainable mobility.
Toyota Motor North America has appointed Tellis Bethel as its new chief diversity officer, effective April 3, 2023. Bethel will lead initiatives to promote diversity and inclusion within the company, reporting to president and CEO Ted Ogawa. He will also continue his role as the chief social innovation officer, overseeing strategic partnerships and educational initiatives. Under the previous CDO, Sandra Phillips Rogers, Toyota improved its Diversity Inc. ranking from #18 to #4. The company emphasizes its commitment to advancing diversity, with a holistic approach impacting workplace culture, community, and the marketplace.
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.