New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 26, 2012
16:28 EDTTMHagens Berman: Toyota agrees to fund a settlement of cases worth up to $1.4B
The attorneys representing Toyota (TM) owners who claim that their vehicles are prone to sudden, unexplained acceleration announced that Toyota has agreed to a settlement valued between $1.2B and $1.4B, which includes direct payments to consumers as well as the installation of a brake-override system in an estimated 3.25M vehicles. Under the terms of the proposed settlement, Toyota will install a brake-override system in vehicles subject to floor mat entrapment recalls. In addition, the settlement establishes a fund of $250M to be paid to former Toyota owners who sold their cars during the period from Sept. 1, 2009, through Dec. 31, 2010, to compensate those owners for an alleged reduced value as a result of publicity concerning unintended acceleration. A separate fund of $250M will be established to compensate current owners whose vehicles are not eligible for a brake-override system. The settlement also provides that all 16M current owners will be eligible for a customer care plan that will warranty certain parts that plaintiffs allege are tied to unintended acceleration for between three and 10 years. The agreement also provides $30M in education grants to independent academic institutions to further the study of auto safety and to enhance driver education. Judge James Selna is expected to review the proposed settlement on Dec. 28, 2012, and if he agrees with its fairness, will grant preliminary approval.
News For TM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 15, 2015
11:21 EDTTMMobileye rises after Morgan Stanley, Deutsche Bank hike price targets
Subscribe for More Information
09:08 EDTTMToyota to realign North American manufacturing operations
As reported, Toyota plans to invest in a new plant will be built in Guanajuato, Mexico, to support improved competitiveness in North America. The plant will produce Corolla taking into consideration forecasted steady, mid and long-term growth in North America. Building this plant will be one of Toyota's efforts to realign its North American manufacturing operations and begin a new approach to plant building; featuring new work processes, including Toyota New Global Architecture production engineering innovations, and will be a model for global manufacturing. To more efficiently supply high-quality and attractive vehicles, Toyota will continue regional consolidation of North American production based on vehicle body type and size. In 2019, production of the Corolla will be shifted from the plant in Cambridge Ontario, Canada to the newly opened plant in Mexico and the plant in Blue Springs, Mississippi will continue to produce the Corolla; consolidating compact vehicle production to the Southern U.S. and Mexico. TMMC will then focus its production on mid-sized vehicles of higher value, along with Toyota Motor Manufacturing, Kentucky and Toyota Motor Manufacturing, Indiana.
09:06 EDTTMToyota to build new plant in Mexico, expand Chinese joint venture
Toyota announced that it will build a new plant in Mexico and expand its joint venture, Guangzhou Toyota Motor Co., in China. These investments are grounded on its plans to construct production lines that are more competitive, with greatly reduced initial investment, improved efficiency, flexibility, environmental performance and safety, the company said. The new plant in Mexico and the expansion in China will be designed to accelerate innovation by implementing new technologies into real production lines. These "simple and slim" production lines can be easily lengthened or shortened depending on demand, with over-head conveyance devices eliminated, compact equipment installed on top of the plant floors, and paint-booths that are smaller. Toyota had previously suspended construction of new plants in order to improve capacity utilization of existing plants and plan for reduced model change-over and new plant construction investment. Currently, total capacity utilization is more than 90% and the initial portion of new simple and slim plant costs, including structure and equipment, is expected to be approximately 40% lower when compared to 2008. Production at the new plant in Mexico is scheduled to start in 2019 and the investment will be approximately $1B. Production at the new plant in China is to start as needed after completion of new line 3 in 2017 and Toyota plans to invest about Y52.5B.
April 14, 2015
12:23 EDTTMFord likely to announce $2.5B investment in Mexico this week, Reuters reports
Subscribe for More Information
06:23 EDTTMToyota to spend $1B to build factory in Mexico, Reuters reports
According to two sources, Toyota will announce plans on Wednesday to invest $1B to build a car factory in Mexico, Reuters reports. The factory, which would be in Guanajuato, is expected to produce about 200,000 cars per year and create about 2,400 direct jobs, one source says. Reuters previously reported that the factory would produce the Corolla car starting in the summer of 2019. Reference Link
April 12, 2015
19:46 EDTTMToyota plans to build new Chinese factory by 2018, AFP says
Subscribe for More Information
April 7, 2015
10:05 EDTTMOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
06:38 EDTTMToyota downgraded to Neutral from Buy at UBS
April 6, 2015
05:54 EDTTMToyota to open plants in Mexico and China, Financial Times reports
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use