AUTO INDUSTRY NEWS

Toyota reports USD 22.9-B in operating income for 2014

Toyota reports USD 22.9-B in operating income for 2014 image

Text: Anton Andres / Photos: Toyota | posted May 13, 2015 13:45

Company announces plans for 2015 and beyond

Toyota has published their report for the fiscal year 2014, covering the period from March 2014 and ended in March 2015.

After the recall crisis and global economic downturn, Akio Toyoda expressed his gratitude for the continuous support of the customers. The company reported a global operating income of $22,949,044,295 and plans to repurchase $2,503,077,000 worth of common stock.

“I believe that our financial results are the outcome of continuous efforts made by individuals within our company, including those at production lines who are painstakingly seeking to make the most of every last second and every last yen, striving to improve productivity; and those at product development who are working tirelessly to translate their visions for ever-better cars from conceptual drawings to reality. They, also, have our sincere thanks” said Akio Toyoda, President and CEO of Toyota Motor Corporation.

Toyoda Speech

The company is currently focused on sustained growth on their products, facilities, people and technologies. It is developing what's called the Toyota New Global Architecture (TNGA) which will “radically change our vehicle manufacturing and business units.” Toyoda said. The company plans to start selling the TNGA vehicles from the second half of this year. Toyoda predicts that by the year 2020, TNGA vehicles will account for roughly half Toyota's global new car sales. Toyota is also establishing a new North American headquarters and reorganizing their diesel engine lineup and businesses.

Toyota recently announced the construction of a new plant in Mexico and a new production line in China. The company says it will be among the first to utilize new production technologies developed during the three year pause from building factories. Toyota also said the new technologies will eventually be applied to existing plants.

Toyota has also accelerated their investment in future mobility such as the development of environmental technologies, already seen with the new fuel cell powered Mirai. The company also increased their investment for the commercialization of advanced driving aids and the continued development of their robotics business.

Toyoda panel

“It is my true belief that to ensure our competitiveness and success for the many years ahead, we must focus on sustainable growth – growth of our products, transformation of our facilities and of our people, and investment in innovative technologies that make life greener, safer and easier for everyone. I will remain united with our leaders on the front lines and work with them to promote measures to help build true competitiveness so that Toyota can grow sustainably. ” said Toyoda in his closing remarks.