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Toyota Motor Philippines (TMP) expects local vehicle production to decline to around 60,000 units in 2023, citing soft demand. Production fell 10% year-over-year from January to August, with Vios, Tamaraw, and Innova as top models. Despite a slight recovery in July and August, high inflation and fuel prices are affecting demand. TMP's total sales also dropped 9% year-over-year, but electrified vehicle sales rose to 11% of total sales.

Toyota's CEO Kenta Kon announced plans to cut costs by targeting small parts like doorhandles and seat designs to reduce breakeven volume. Profit margins have declined since 2024, and Kon aims to improve efficiency through continuous improvement and factory visits. Toyota also plans to increase revenue through software subscriptions and recycled materials. According to Automotive News, these changes are part of a broader strategy to avoid the fate of competitors like VW and Nissan.

Toyota (TM) plans to launch a hydrogen-powered Hilux in Europe by 2028, targeting corporate fleets. The vehicle will have a range of over 400 km and a towing capacity of 2.5 metric tons. Toyota will test the technology in the Dakar Rally in 2027. The company also unveiled a new hydrogen fuel-cell system for heavy-duty trucks, aiming to supply it to Scania and Iveco. Investors should monitor pricing, leasing demand, and hydrogen infrastructure for adoption signals.

The NHTSA issued recalls for Ford, Jeep, and Toyota vehicles, affecting hundreds of thousands of trucks, SUVs, and commercial vehicles. Ford recalled F-150 trucks and Transit vans for fuel, power, and seatbelt issues. Jeep recalled SUVs for tire pressure monitoring system failures. Toyota recalled C-HR, 4Runner, RAV4, Tacoma, and Tundra models for software and labeling errors. Other recalls include Daimler Trucks, Nova Bus, and specialty vehicle manufacturers for various defects.

Toyota is recalling 8,521 2026 C-HR electric vehicles due to a potential electrical issue that could cause a loss of drive power, increasing crash risk. The recall, issued Sept. 2, involves updating the vehicle's battery software, according to the NHTSA.

Toyota launched the GR Kart, a budget-friendly racing kart for adults and children, priced at 385,000 yen. The kart is designed for closed-course circuits and can fit in Toyota minivans. Toyota aims to foster motorsports interest and develop future engineers.

U.S. EV sales fell 27% in Q1 2026, dropping to 5.8% of the new car market. UC Davis researchers attribute most of the decline to automakers reducing production due to policy changes, not just softened demand. Automakers like Ford, Stellantis, GM, and others canceled or delayed EV programs, resulting in $53 billion in write-downs. Despite the setbacks, some companies continue investing in EV production, and battery costs have decreased, improving affordability.

Toyota is recalling 10,000 2026 C-HR electric crossovers in North America due to a software issue that may cause power loss while driving, increasing crash risk. The problem stems from the Battery Electric Vehicle Electronic Control Unit overcharging the traction battery. Dealers will update the software to fix the issue, as over-the-air updates are not available for this model. The recall follows a 136% increase in Toyota's U.S. EV sales in the first half of 2026, driven by the C-HR and other m

Toyota aims to increase non-vehicle operating profit by 40% to 3 trillion yen ($19.2B) by 2030, focusing on software updates, leasing, and used-car sales. Global sales slipped 2.8% in early 2026, with declines in China but growth in North America, especially for hybrids. The company plans to expand used-car sales in Japan and invest in software services for recurring revenue.

Toyota will supply its latest fuel cell technology to Scania for use in hydrogen-powered trucks. The first trucks will be deployed early next year under a partnership between the two companies.