Trade News

TOKYO — Toyota Motor Corp. nearly doubled its operating profit in the latest quarter, as the world's biggest automaker ramped up supply on free-flowing semiconductor shipments and shifted sales into high gear in major markets, led by Japan.

In the latest three-month period, from April-June, Toyota's operating profit soared to 1.12 trillion yen ($7.75 billion), from 578.6 billion yen ($4.00 billion) a year earlier.

But Toyota also warned in Tuesday earnings announcement that lagging performance in the important North American market is undermining investment in electric vehicle production.

Operating margin in North America, the company's top market, languished at 3 percent in the quarter, below that in other regions, such as 14 percent in Japan and 6.3 percent in Europe.  

"We are not satisfied with an operating profit margin of 3 percent in North America, and we need to raise this more," a Toyota official said. "As we will be making battery…

Nissan's sporty Z coupe is getting primed again for track duty.

The Z Nismo returns to the U.S. after three years this fall with added horsepower and torque, performance-tuned suspension and brakes, aerodynamic bodywork and a stiffened suspension.

Like Mercedes-Benz' AMG or BMW's M, the Nismo has the double objective of enhancing Nissan's sporty side while adding profit to various models for both the manufacturer and the dealers, said Sam Fiorani, vice president at AutoForecast Solutions.

"It takes a desirable product and makes it aspirational," Fiorani said.

In the U.S., Nissan has offered the Nismo performance package on the Sentra compact sedan, the 370Z and GT-R sports cars and the Juke compact crossover.

Takao Katagiri, global CEO of Nismo, has said that Nissan is "having lots of discussions" about introducing additional Nismo offerings geared toward American tastes.

"When we look at the U.S. market and what our competitors ar…

Mazda is dropping two vehicles from its U.S. lineup after the 2023 model year, the MX-30 — its first electric vehicle — and the CX-9 large crossover. For now, Mazda is focusing on gasoline-electric hybrid vehicles instead of EVs.

Three hybrid crossovers, the CX-50 and CX-90 that are already on sale, and the CX-70 that is expected to arrive next spring, replace the outgoing vehicles.

The MX-30, sold only in California, is a compact crossover that was limited by a 100-mile range between charges.

Mazda sold just 66 MX-30 crossovers through June, down from 316 sold in the first half of 2022. It was available for just two model years, while the CX-9 has been a mainstay in the lineup since 2007.

Mazda also has no plans to market the MX-30 e-Skyactiv R-EV in the U.S., a spokesperson said. The MX-30 R-EV, sold in Europe and Japan, features a 17.8-kilowatt-hour battery, and, with a rotary range extender, provides 53 miles of all-…

California state regulators will review the data protection policies of car manufacturers as part of the state's efforts on consumer privacy. The audit will focus on connected vehicles that tie in with drivers' mobile phones to power popular infotainment features — like Apple Inc.'s CarPlay or Alphabet Inc.'s Android Auto.

"Modern vehicles are effectively connected computers on wheels," Ashkan Soltani, executive director of the California Privacy Protection Agency, said in a statement Monday. "They're able to collect a wealth of information via built-in apps, sensors, and cameras, which can monitor people both inside and near the vehicle."

Soltani said the agency's enforcement division is reaching out to car manufacturers to gauge how they use and collect consumer data and are complying with California's privacy laws. The agency declined to comment further on which carmakers it had contacted as part of the review.

The California Privacy Protection Agen…

U.S. regulators want 58 mpg CAFE standards in less than a decade. Suppliers get rare leverage in contract negotiations. Plus, a conversation with the head of GM’s hydrogen business, Charlie Freese.

How do I subscribe?

Can't wait to hear the next episode of "Daily Drive"? Subscribe through a podcast app to receive episodes days in advance. If you don't have a podcast app already, here are some options. 

iPhone / iPad

Android

Spotify

To strengthen their business and stay ready for what’s next, dealerships are looking for ways to streamline and simplify their operations, stay up to date with technology, remain compliant, and find the right partners to help put all of those things in place and keep them running smoothly.

In Dealertrack’s latest eBook, they explore how to:

Improve operational efficiencies across the dealership Smoothly adapt to new technologies Avoid fraud risk and stay prepared for audits Identify technology partners for the long haul Anticipate what’s on the horizon

Toyota will strengthen development of EV technology in China, the automaker said on Monday, as it looks to catch up with increasingly tough domestic competition in the world's largest auto market.

The move is the latest from the world's top-selling carmaker to show a sharper pivot to EVs. It recently detailed an ambitious new EV strategy that includes an overhaul of its supply chain and the development of long-range batteries.

China was once regarded by foreign automakers as an opportunity for almost boundless growth. Now they worry about diminishing market share thanks to the fast rise of local competitors and cut-throat prices.

Toyota is to accelerate powertrain development with suppliers Denso and Aisin as well as local design and development of "smart cockpits" that meet the needs of the Chinese market, it said in a statement.

It said it would strengthen development of its full suite of electrified cars, not just battery-powered on…

MILAN -- Lamborghini could sell 10,000 cars this year for the first time, its CEO said, as the luxury sports carmaker reported a rise in profit and revenues for the first half.

The Italian brand, a subsidiary of Germany's Volkswagen Group, sold 5,341 cars between January and June, up 4.9 percent on the same period last year. The United States was its largest single market, with 1,625 deliveries.

Chairman and CEO Stephan Winkelmann said it was not easy to make forecasts due to market uncertainties, including with raw materials, but added that selling 10,000 cars this year was a "feasible goal."

"It is not something we are obliged to achieve, but it's important to show what the health of the company is and how big (clients') willingness to buy our cars is," Winkelmann said.

Supported by the success of its Urus SUV, costing about 200,000 euros ($219,900) before tax, Lamborghini has in recent years expanded its output, relying on solid demand from we…

AMSTERDAM -- A burning car carrier off the Dutch coast is being towed to a new location away from shipping routes as part of a difficult operation to salvage the ship, the Dutch water board Rijkswaterstaat and media said.

The ship will be towed to a location 16 km north of the Dutch islands Ameland and Schiermonnikoog, Rijkswaterstaat said in a statement on Sunday.

The towing operation began on Sunday and it was not known when the ship, which was travelling from Germany to Egypt when the fire broke out, will arrive at its temporary destination, the board said, adding it depended on weather conditions, smoke development on the carrier, current and tide.

The fire on the Panamanian-registered Fremantle Highway, which was carrying new cars, resulted in the death of an Indian crew member and injury of seven who jumped overboard to escape the flames. Japan's Shoei Kisen, which owns the ship, said the entire crew of 21 was Indian.

A Rijkswaterstaat spo…

Long touted as the fuel of the future but not of the present, the age of hydrogen may be about to start.

Billions of dollars in federal subsidies are part of a massive industrial policy pushing the energy source. The U.S. Department of Energy is pouring $7 billion into a series of regional hydrogen production hubs to make sure it’s available for transportation and heavy industry. It also plans to subsidize the cost of hydrogen when produced with green technologies.

Automotive News’ tech and innovation reporting team identifies the challenges and opportunities for hydrogen fuel adoption in autos and adjacent industries. The industry’s vision for a zero-emission future is clear, and there are multiple paths to get there. Policymakers are ensuring that hydrogen will be one of them. See our report.

Always touted as the fuel of the future but never the present, the age of hydrogen is about to start.

Billions of dollars of federal subsidies are part of a massive industrial policy pushing the energy source. The Department of Energy is pouring $7 billion into a series of regional hydrogen production hubs to make sure that it's available for transportation and heavy industry. It also plans to subsidize the price of hydrogen when produced with green technologies.

By subsidizing the production of clean hydrogen, the government is encouraging its use by the steel, cement, iron, ammonia, petrochemical and specialty-fuel industries.

But policymakers need to make sure the methods used to produce hydrogen are clean. Nearly all the hydrogen currently produced in the U.S. requires carbon-emitting energy sources.

Automakers have spent years developing hydrogen fuel cell passenger cars only to discover there's almost no consumer interest. New-car buyers loo…