Japan’s Toyota reports hefty profit on cheap yen and solid car sales

Toyota secured approval for a $1.341 billion investment in Argentina to build a hybrid pickup truck without plug-in charging. The plant will produce full hybrid electric vehicles (HEVs) for regional export, with 53% of the investment allocated to local suppliers. The project aims to address logistical challenges in emerging markets and generate $1.280 billion in annual export revenue. The exact model (Hilux or Tacoma-based) remains unspecified.

Toyota confirmed plans to build a non-plug-in full hybrid (HEV) pickup truck in Argentina, investing $1.3B. The new plant will also produce an SUV variant. The project includes $400M for updating the Hilux. Toyota chose HEV over plug-in due to regional infrastructure and customer needs. The plant aims to export 70% of production, generating $1.28B in annual export revenue.

Toyota is recalling approximately 105,800 Land Cruiser hybrids in the US due to a potential fire risk, according to the NHTSA. The recall is related to a possible electrical issue. This announcement may impact Toyota's stock and investor sentiment.

The White House plans to impose tariffs on Canadian-built vehicles starting 2027, impacting Toyota and Honda, which produce 75% of Canada's automotive output. Barclays data shows 25% of Honda and 17% of Toyota U.S. sales come from Canada. Toyota is investing $10B in U.S. production, while Honda faces financial constraints and lacks immediate expansion plans.

Toyota warns it may reduce UK sales due to 'unrealistic' electric car targets, citing the zero-emission vehicle (ZEV) mandate as unsustainable. Executives suggest the 2030 target of 80% electric vehicles should be cut to 50%, and the 2035 combustion engine ban should be removed. They also expressed concerns about the competitiveness of their UK plants, including the Burnaston facility, due to rising costs and regulatory uncertainty.

Toyota plans to start producing its hybrid-only Lexus NX in Ontario, Canada, this December. The company is investing hundreds of millions in its Cambridge plant, following a $1.1bn investment in the RAV4. Toyota built 537,518 vehicles in Canada last year, with 85% exported. This expansion contrasts with cutbacks by other automakers due to trade tensions and competition.