We Finance! 2007 Toyota Tundra Sr5 4wd The Boss Plow on 2040-cars

Auto blog

Toyota launches updated Verso-S in Europe

Globally, the Toyota Yaris has bred more variants than we can shake a stick at. It's been known in different markets as the Vitz, the Platz, the Bella, the Vios and, to us, as the Echo. The first-generation model bred a small cargo van called the Yaris Verso - a mini minivan riding on the shortest wheelbase in its class - which was renamed the Verso-S for Europe and alternatively known as the Space Verso, the Ractis, the Ractis Verso and even the Subaru Trezia in certain markets. And now Toyota has launched a revised version of its Verso-S in Europe.
Arriving as a mid-life facelift after three years on the market, the new Toyota Verso-S has been reinterpreted through the "Keen Look" design language that's been distinguishing the latest generation of Toyotas, particularly in the European market. That means new projector-beam headlights and LED daytime running lights, a reshaped grille with chrome surround, more LEDs around back, a fresh set of 16-inch alloys and new color options.
The interior has likewise been spruced up with new trim and color choices, as well as a tire pressure monitor fitted as standard. There's a new touchscreen display with more connectivity options, upgraded nav and a rearview camera as well. Since Toyota's made no mention of engine upgrades, until we hear back, we have to assume the 1.3-liter inline-four and 1.4-liter diesel engines carry over unchanged with the buyer's choice of either a six-speed manual or continuously variable transmission.

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.

Tesla expects another higher-volume deal with Toyota in next few years

Four months have passed since Toyota ended its relationship with Tesla Motors, in which the electric-vehicle specialist supplied full lithium-ion battery packs to the Japanese behemoth for its RAV4 EV rollout, of which 2,500 vehicles will be completed. Now, Tesla founder and CEO Elon Musk has been heard suggesting that a future collaboration is likely within the next two to three years, and that it will probably be much larger than the last one.
Both Tesla and Toyota have sung each other's praises in the not-too-distant past, Toyota telling Autoblog back in May, "We have a good relationship with Tesla and will evaluate the feasibility of working together on future projects." According to Automotive News, Musk said of the Japanese giant, "We love working with Toyota... We have a huge amount of respect for them as a company and certainly much to learn."
Interestingly, though, the two automakers have rather divergent strategies for eco-friendly automobiles. Toyota, as you're surely aware, is the clear-cut leader in hybrids and has thrown its massive support in the direction of hydrogen fuel cells, while Tesla has invested heavily in battery-electric technology and high-speed charging stations.