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European car sales up 8% in February

Three weeks ago an analyst increased projections for European car sales this year, expecting them to climb three percent compared to last year instead of 2.7 percent. That number is a postive sign after years of hard times but it turns out February was especially good, overall European sales climbing eight percent on a wave of southern European recovery and discounts - and this comes after five months of gains including January's 7.2-percent jump over the year before.
The only country of Europe's five largest markets to post a decline was France, just as it did in January, Germany, the UK and Italy posting solid double-digit numbers, Spain rocking the charts with an 18-percent increase because of a government program to encourage trade-ins.
The only brand to miss the wave was Volkswagen, dropping 0.8 percent as it watched the double-digit growth at sister brands Audi, Seat and Skoda lift the Volkswagen Group sales up by seven-percent. Peugeot overcame flat sales at Citroën to improve the group by 3.5 percent, BMW and the Mercedes-Benz/Smart combo rose by four percent, the Fiat group jumped 5.8 percent, Ford was up 11 percent, the Renault Group 11.5 percent, General Motors 12 percent and the Toyota clan by 14 percent.

Toyota renews Supra trademark, we renew frothing at the mouth

Enthusiasts have been begging for a new Supra practically since Toyota stopped selling its fourth generation in the US way back in 1998. We've been hearing rumors about a successor for years, but the Toyota FT-1 Concept from the 2014 Detroit Auto Show is the first tangible sign from the automaker that a new generation may be on the table. To temp us even more, the Japanese company reportedly filed with the US Patent and Trademark Office last week to renew its 2010 trademark for the name "Supra."
Granted, these kinds of trademark updates aren't uncommon, as automakers don't want to lose their rights to nameplates (even if they have no immediate plans to use them). However, Toyota briefly abandoned its rights to the Supra name entirely. According to The Motor Report, the original trademark was continually renewed until 2006, but the Japanese automaker let it lapse in the US until applying for it again in 2010.
The FT-1 Concept in Detroit was created at Toyota's Calty Design Research center in California and carries cues from the 2000GT, Celica and Supra in an ultra-curvy body. Officials did not disclose anything about its powertrain. Toyota is also co-developing a future sports car platform with BMW that will underpin models from both companies, but few other details are konwn, and it isn't yet clear that the joint venture has anything to do with a future Supra. Hope springs eternal.

Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.