Toyota just became Kodak - Q3 profit collapses, losses begin
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- Опубліковано 21 тра 2024
- Toyota just became Kodak - Q3 profit collapses, losses begin
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Remember when hybrids were supposed to be the bridge to an electric future? Seems like Toyota is stuck on the bridge and refuses to get off.
Actually, Toyota looked at their battery production capacity and determined they could avoid more CO2 emissions by selling lots of cars with small batteries than just a few cars with large batteries.
Toyota is stuck on last century hybrids. Also last years NiMH batteries.
@@m1procter hope it works for them. I don't see it.
@@PhxElecAuto and I'm a Toyota/Lexus guy. Their hybrids haven't progressed enough. Their design language is hideous. Even if they didn't go full electric, the mild hybrids should have been far more efficient by now.
Now they're selling us this hydrogen dream, with little to no investment in the refueling apparatus.
They were unwilling to "Pay The Toll" to cross The Bridge. :)
I am a retired chip engineer. Around the turn of the century we had a joint project with Kodak to combine their color filter expertise with our CMOS chip technology. We were working with their research arm. We had, what would have been at that time, the lowest power, fastest, highest MP image sensor on the market. When one of their senior execs learned of our results he killed the program because "it would impact their film business". Since the project depended upon both our IP and their's, we had to drop the work as well. I've always referred to this as our "Kodak moment". Toyota is clearly following this script.
potato chip engineer ?
@@lufasumafalu5069 yes, because, of course, a potato chip company would have a joint development project with Kodak to develop image sensors. Duh!
@@lufasumafalu5069 ,,
Wow ,, funny .
Man... I can feel your frustration. Should have sold your work to others who were keen...or at least took yr knowledge to another cmos manufacturer 😂
On the other hand, even if Kodak did it otherwise, there is also no guarantee that it will succeed. The industry moved to a new direction that all players are on the same starting line. Kodak advantage was gone in the new race. The Olympus, Cannon, Nikon were at an advantage. However, the new DSLR champions did not last long, their biz crumpled when phone photography came along.
To be fair to Kodak, it sensed the threat and started the digital camera business in the 90s and had a reasonable but not outstanding digital camera lineups at 2000. They may be uncommitted. But who would? It underestimated the speed of digital camera adoption and consumer behaviour change (people stopped printing photos) that their digital to print in stores failed.
I have been a TPS guy (Toyota production System). I breath continous improvement in my previous manufacturing life. It thought me that, "The moment you stop to improve, you start to die."
Its makes me feel sad on what is heppening to Toyota.
Sam.. Sammy… sameister. .. I have to respectfully disagree on this conclusion bro. I own a Tesla so I’m no Toyota fanboy but… just went with my daughter to a Toyota dealership yesterday looking for a Corolla cross. They have no cars available. To get a car you have to order it and pay a premium above sticker then wait a coupla months for it. They are severely supply constrained hence fewer cars sold. They will probably get into some trouble in the future if they don’t roll out a proper EV strategy but that’s likely 10 years away. Deuces
Hi Sam, another great video. Interesting what Q3 results are revealing about legacy auto's future. The strange thing about Toyota and their obsession with hydrogen is that Tesla looked into hydrogen too. They did so when Elon was CEO, and the investigation lasted a few months. Hydrogen was dismissed very quickly because Tesla made their assessment based on the pure physics and engineering of the issue, using first principles. Tesla did not let themselves get distracted by business interests and partnerships to cloud the thinking, but focused on the fundamental physics and engineering of the hydrogen debate.
Obsessed is the key word. We're watching the fall out right before us.
the early investors in Tesla brought their money because the plan was electric cars and not hydrogen cars
?? Toyota are not "obsessed" with hydrogen! They see different ways of producing carbon neutrality in different parts of the world.....
P.S do you actually have evidence that Tesla "looked into hydrogen"?
@@bryanduncan6178 Toyota Mirai is the sole hydrogen car here in the States, and is sold around the world. Mr. Toyoda has said numerous times on stage that Toyota will continue to develop and sell hybrids, hydrogen cars, and future EVs equipped with solid state batteries. They've abandoned the RAV4 EVs that they built and sold. Now they only rebadge Chinese EVs. I'm a big fan of Toyotas since I grew up with them, and still drive around in a Lexus hybrid. But listening to the reasons Toyota gives for not going pure EVs is a bunch of hogwash. Go look it up, goes from we don't have the electricity infrastructure to existing battery technologies are not the future and so on. Too bad to see where they have positioned themselves to continue to support big oil.
With respect, the RAV4 EV was only built as a compliance vehicle to get around the then CARB rules.
If you look at the actual press releases from Toyota, rather than the rubbish on here or on websites, you'll see they have a number of concerns that are shared by other OEMs. Price, battery supply, EV infrastructure and home charging are all obstacles to mass adoption. Indeed, in West London home building has stopped due to concerns over the power supply to the area with the now mandatory EV charger added!
Clearly Tesla are never going to come out and say "we can build them but people can't afford or charge them" as their share price would drop faster than Titanic!
Sam, how do you feel about your predictions now, in November 2023? Toyota stock on NYSE is up 30% over the year since that video. In Canada you have to wait 2 years for a hybrid RAV4. etc.
It’s amazing to see in real time the disconnect and the impact of Toyota’s cognitive dissonance
It's fascinating isn't it
I wrote them off when they and GM supported the Drumph fuel mileage reduction plan. Goodbye Toyota.
@@Krunch2020 Odd, I was thinking the exact same thing for all the pro EV moonies posting here.... They're all going to end up driving nothing and being distinctly unhappy as we continue to deindustrialise modern society in the name of the Great Reset.
X D
You guys are crazy if you think gas powered vehicles are going away anytime remotely soon and even crazier to think Toyota is going away. Kind of forgot to mention that electric vehicle sales are way down. In fact, almost all car manufactures are experiencing losses in sales and it has nothing to do with not going full on board the electric train.
BEST.
INTRO.
IN THE BIZ!!!🎉
you the man.
I just looked at the third quarter report, and sales are all up, in every division. I’m not sure what you’re looking at.
Pretty sure Toyota sells out pretty much every car they can make right now. They have cut production because of supply chain issues.
I think they will figure it out.
What's the point of making more cars if you are making less money in the process?
@@enadegheeghaghe6369 I would think at full production volume they are profitable.
@@braddavies79 depends on how long the demand lasts. Europe has already banned ICE cars from 2035 and several states in the US have done so as well. The transition is only going to accelerate.
If Toyota wants to remain relevant into the future they cannot afford to ignore these massive changes in some of the largest car markets in the world.
The earlier the start investing in EVs the better. The wheels falling off their BZ4x was quite embarrassing
Don't allow actual facts to get in the way! They have actually sold out of a number 2023 model year cars.
They can't physically build the cars at the moment due to supply shortages.
@@enadegheeghaghe6369 the wheels falling off is really odd. That bearing assembly I’m sure is close to the same thing they use on the other 10 million cars they sell a year.
Toyota will do what they need to do to be profitable in the future. That have the capability to build EVs it’s just the battery supply issue
Congratulations on reaching 100k subscribers Sam, the number of videos you produce is impressive!
Thank you very much!
The trend for Toyota's share price for the last six months is up.
Actually, Kodak were I think the very first company to set up a digital camera, in the mid 1970's ! They had huge early insight into digital, but lacked the commitment and management support for a huge production shift. They were early in, with a Kodak digital camera on the market around 1990! So it's one of those myths that Kodak ignored the digital camera revolution....Quite the opposite in fact.
Almost the same as Nokia mobile phones. They had the touch screen about ten years before Apple, but the development department could not convince the leadership of what could be the future. Why choose/put old politicians in the top management of a company that sells products to "children"? And who is responsible for the failure? Suddenly none...
@@leiflillandt1488 Yes you're right. Kodak and Nokia got lost in their journey, thanks to 'long in the tooth' managers only caring for their golden handshakes. It nearly happened to IBM, with old Mr Watson being happy to tell people that the world only needs 5 computers....!
It is sad that companies are often flooded with overpaid, underachieved managers and leaders.
@@tomlewittIt happened to IBM. Watson had an engineer that solved "the von Neumann bottleneck". He fired her bc she was a member of the LGBTQ community. Intel solved the the von Neumann bottleneck. It took years for IBM to recover.
Another example of the industrial cycle. From tiny beginnings to rule the automotive world to self destruction. From leading innovation to crippling indecision. Classic.
self destruction? lol. check the number who sold the most vehicles in 2023? total BS
Toyota sold 11.233.000 vehicles in 2023. The best selling auto maker for four years in a row.
It seems to me that Toyotas problem isn’t ev or hydrogen in the U.S.. it’s available product. Went to a couple of Toyotas dealerships to look for a RAV4. There are no RAV4, Corolla’s, Prius, or Camry’s. All popular and sell well but you can’t find them.
Sam, totally agree with your premise on legacy auto producers. If they aren't already pivoted and competitive tech-wise, they'll be road kill!
OEMs are already dead men walking - they just don't know it or are planning to get bailed out by government (again) but I think the tide is shifting and public should demand that poorly run companies go out of business.
Toyota entered the 21st century with great hybrids and reliability off the charts, if they had embraced BEVs they could have been, even if not the leader, in the front of the pack
Never underestimate the power of the Japanese government to bail out their large companies.
Too big to fail right 😂
Disaster
Yeah US 200 billion is a small amount, mate, are you mad? Hallucinating in a fool's paradise? Do you know how far ahead Tesla is?
Of course they will but they have a lot of catching up to do. The hardest thing for big auto makers like Toyota is having to change the entire factory line to EV. Plus change to giga press in order to cut cost.
They won’t do it in time for Toyota to still be a market leader.
THIS certainly has NOT aged well, re both overall Toyota profits, and the stock.
I think it FINALLY getting more aggressively into HEV's (like the 2025 Camry being pure HEV) is a great sign for the intermediate term.
Long term, obviously, they must get their act together with BEV's, and I suspect they will.
What long term? We see China pivoting to EVs now (their biggest market), EU and USA already at pretty decent numbers (say15%). They can't survive these numbers next year, with the debt they have. Painful labor force cuts awaited
My wife bought a Toyota Prius in 2007. Loved it. I couldn't wait for the Tacoma Hybrid pickup. Not only great gas mileage, but you could have 120V power in the bed. I was going to be first on line. Also had a popup camper to pull. Gave up waiting in 2011, bought a Lexus Rx450h hybrid. Then in 2018, my wife got her Tesla Model 3. I signed up for a CyberTruck. Then finally Toyota talks about a 2024 Tacoma Hybrid pickup. 17 years to late!!!!!!
A Tacoma Hybrid would have been sweet with that Lexus elecric motor/differential in the front axle, all the power you could ever want for camping. A/C in your rooftop tent!
Once you get the Tesla there is no going back I’m afraid.
Toyota haven’t got their fingers on the motor industry pulse any more. They are only consistent at missing the mark
I keep seeing people saying that Toyota are pulling a master stroke. I don't see it.
Congrats on 100k subscribers! Your channel has the best resources for EVs!
Thank You!
In 2023, Toyota Motor Europe achieved an all-time sales record, selling 1,173,419 Toyota and Lexus vehicles in Europe, marking a 9% year-on-year increase. This reflects the success of their multi-path strategy, with 70% of total volume now consisting of electrified vehicles1. The top-selling models included the Yaris range, Corolla range, Toyota C-HR, Aygo X, and RAV41. Additionally, Lexus sales increased by 46%, making it one of Europe’s fastest-growing premium brands1. In the U.S., Toyota Motor North America reported 2,248,477 vehicles sold, representing a 6.6% increase compared to 20222. Globally, Toyota and Lexus delivered 10,307,395 cars, setting a new record3.
Great reporting, Sam. One of the things that is driving this hesitance and seemingly flip flopping on electric and lack of a specific focus is that Japan has mandated to switch to a hydrogen fueled economy where the hydrogen is created using new nuclear power plants (I am serious here , this is not a joke) although this type of power could be easily combined with electric drive ( having a much smaller battery and adding a hydrogen tank and fuel cell) it is a driving factor in the crazy direction changes for Toyota ( and Honda ). I feel they should have had a two pronged approach, developing pure ev’s while also developing the hydrogen side (which the Japanese auto manufacturers could develop together to cut costs. ) As it is I see the only way for them to compete in the electric field will be thru government subsidies and money. Now they are scrambling just to survive! A sad comment on a great car company!
I would just produce electricity with the nuclear plant. As far as excessive nuclear power capability and for renewables I would use the hydrogen for energy storage and use it for dispatchable electrical power, for example for peak power demand times. Hydrogen takes up volume or you have to create special hydrate material to store it, and this is just easier at a large scale energy storage/generation plant that can achieve maximum thermodynamic efficiency in a practical facility than in a relatively small moving vehicle where too much weight or volume is a problem. EVs now have new supporting charging infrastructure and standards with major investments already in place, but not hydrogen for transportation. Toyota management is not listening to its own group of excellent Japanese engineers, in this engineers opinion. Too bad.
Ex Toyota and Honda execs make up the Japanese government advisors on hydrogen.
The comparison with Kodak and Nokia is spot on. The Toyota leadership is in denial while the rest of the world moves on.
Not going to happen, like he claims. Not with full backing of the third richest country in the world.... Tesla would be NOWHERE without subsidies paid by the American taxpayer! I paid for a little bit, of every single Tesla made in the U.S.
@@DetroitMicroSound What are these subsidies, of which you speak?
@@cerealspiller Billions in subsidies. EACH. Tesla, SpaceX, etc. The data is everywhere. The Electric Viking didn't prop up Tesla, with his tax dollars. He's an Australian.
@@DetroitMicroSound do list and or provide reference to these alleged subsidies we all paid to tesla. 🤔
They've been in denial since partnering with tesla in the 2010 era. I was so amused to learn if toyoduh had kept their initial tesla stake?
It would've been worth enough To pay all their debts off. Instead they dumped it and any chance of working with tesla back in 2015.
I can't wait to watch them continue their inexorable slide down the list of top automotive manufacturer's. The model y has already outsold the Camry and corolla this year Despite costing almost 50% more on average. That's the death knell imo and toyoduh delaying and revamping their bzed ev line is just more billions down the drain. By 2025 I'm betting the won't even be a top 5 automaker anymore. 😀
Hang on, didn't Toyota make a huge fanfare about their Solid State Battery that's going to be the cornerstone of their EV revolution? I guess that they haven't been able to make this work or make it economically in volume.
That's right. 😵
You'll see a SSB hybrid early 2024.
@@bryanduncan6178 what is an SSB?
With the small chance Toyota can bring solid state to market in volume it’s going to take several years. They aren’t going to tell their competition the status either.
@@kevin6550694 Solid State Battery
Great video and insight on this topic. SMR has been saying this for a long time. Seems like the beginning of an avalanche of stories like this one.
Great video Sam. Can’t wait for this to happen to the one of the most government supported companies on Earth. AFL time to get a new sponsor.
I'm firmly in the used car market. My interest in all of this is from an awareness and an investor perspective. In fact, my next vehicle is likely to be an upgrade form a 2007 to a 2017! lol
I drive a 2006 Toyota Matrix with 172,000 km on it. It’s in perfect condition so it should last me another 10 years. By then I’ll have saved up for my first EV.
I drive a 2011 Honda Civic. It has 78 K miles and I drive about 6 K miles / year. It will last much longer than me. I could easily buy a Tesla for cash, but choose to leave that money invested in Tesla stock. There is a reservation for a Cyber Truck which might come up by 2026 or '27. I'll buy it if I live that long or give the reservation to my grandson. Guess I should check to see if that reservation is transferable by inheritance or as a gift to a relative.
I am with you there
@@terrysullivan1992 I’m quite excited to own an EV. Just can’t afford it yet.
One year on Toyota stock is up just about 100 percent....and EV sales have hit the wall for many manufacturers
Incorrect
Really sad. Toyota has been the leader in reliability and consistency for me since I can remember. They have made some head scratching moves the last decade. Love the Lexus line, what’s going to happen to Lexus?
Long time Toyota and Lexus owner here. No more. Tesla going forward
@@kabysummit5801 Tesla is shit when it comes to reliability and build quality
@@JoseFernandez-wu8pj I bet you don't own one and can't afford one
Yes back in 2000 they were leaders but since then nothing new. Newer ugly bodies but same motor etc. The Prius motor has not changed in 25 years. No way to run a company and you see what happens
@@JoseFernandez-wu8pj yet Tesla has the world’s highest consumer satisfaction. You don’t see the disconnect there?
Sorry but this is just pure speculation…
Toyotas own reason (not saying it’s right but you can’t disregard it simply) is the lack of parts to manufacture enough cars…
Most of the world still buys ICE and Toyota is king there.
I agree they have problems but any comparison to Kodak is too early
Thank you for bringing common sense along!
What you’re missing is that the most profitable, high end Toyota/Lexus vehicles will lose its biggest markets within a few years. Selling low tier vehicles to 3rd world country is not sufficiently profitable for the company to remain solvent.
I worked in Japan for a Toyota-related company. They are very conservative and take a very long view. It took them years to make what most people think are the most reliable gasoline cars. I think their system favors slow and steady improvement over rapid changes . In time, I'm guessing that they will make the most reliable electric cars. The fact that they are behind other companies right now in electric cars will look like a minor blip when we look back on this years from now.
I agree they do the long term view thing... but if they're not going to start mass producing EVs in the next year or so then how do they service the debt? Mastering the EV, getting people to Buy them and selling the volumes they need to isn't going to happen before they are, for all intents and purposes, bankrupt. The gvmt may bail them out but how will they get new funding when they're known to be conservatively run and slow movers? This is going to be a painful one to follow.
Thing is, they can all make reliable EVs as there ain’t much to go wrong. The development is solely in the battery tech. Tesla demonstrated how they could build a luxury sedan with a revolutionary powertrain in less than a decade, with little prior knowledge of motor manufacturing. Toyota just need to get the hell on with it. Pontificating, even for a day in their world, is disastrous.
Today, we see more and more Toyota's in our parking lots and on the roads. I also owned several of them and use one today.
So don't write Toyota off yet, because many people are still bying Toyota's. Yeah... their innovation is perhaps a bit slow, but I still prefer a Toyota over every other brand.
Ever heard of a electric vehicle
Perfect timing with the algorithm recommending this video a year later. Stock is up around 30% and getting closer to all time highs!
Lol. I guess that’s why the algorithm recommended the video to me too. 😅
100k subscribers! Congratulations Sam.
Thank you!
Question, are the high EV sales in California just due to government subsidies ?? And how long can that last ?
That is my suspicion
Thank you Sam. These sure are amazing times.
Hi Sam. More than 100k followers, congrats and kudos. 👍😀
Yay! Thank you!
Thanks!
Thanks. Great video!
Glad you liked it!
Got to hand it to you Electric Viking, you knocked this right out of the park. From your headline - to pitching a fascinating Point of View.
Keep us up to date on related commentary from different media sources pls. That also will be most telling to those listening to you. .
11/10 agreed
But arent they developing a cutting edge solid state battery and hydrogen powered engines?? Im shocked.
How ironic, the company that’s made Prius’s for years…it would have so easy for them to dominate and Tesla might not have even came to be. I’m glad it went this way. Eventually the mighty fall.
Thank you!
Welcome!
If they raise the prices too much they’re going to sell even less cars
From Hero to Zero in slow motion
Something tells me this comment will NOT AGE WELL
@@JoseFernandez-wu8pj why? You expect it to happen fast?
Legit have been WAITING for YEARS for an electric landy, electric hilux, anything. Toyota are diggin emselves a deep hole !!
I searched for Toyota's Q3 earnings (2023) before noticing that this video is a year old. Turns out that Toyota's Q3 earnings doubled over the same quarter last year, so I'm not expecting a repeat of this video this year.
Congratulations on the Ton!
Thank you! Cheers!
I’m surprised investors don’t replace the entire board and CEO.
At Ford Gm Stellantis Toyota,,,,,,,,,,,,,
HOW and WHY did Toyota get in so much debt ⁉ Especially when they made the best ICE Cars ⁉
Hopefully Toyota Lexus will have some hidden surprises otherwise does not look great. The world is moving to electric cars in a rapid pace.
Is it greater than VAG? The top selling mantle seems to alternate between these two and after all, the Japanese took VW's example of building and exporting small, affordable and economic cars.
BYD just sold ~ 220,000 NEV in October in China alone! ...Let that sink in.
I have been posting about Toyota being on the endangered list for some time and every time I get comments that I am crazy, that it's impossible, etc. but the numbers don't lie... only the CEO of Toyota lies, with regards to EVs 😉. Excellent analysis, as usual. Thank you.
I think Toyota will follow the path of Sony. Sony's Trinitron picture tubes were on top of the world, flat screen televisions threatened their dominance, so Sony resisted change and didn't invest in developing LCD technology. But the market shifted anyways, forcing Sony to buy LCD panels from direct competitors like Samsung. Consequently, Sony's margins were horrible, so Sony shifted to buying Chinese LCD panels. Sony was never able to catch up on the core technology to build their own LCD panels, but they are still around today and sell excellent LCD televisions - the best Chinese LCDs Sony can buy! If not for the IRA, Toyota could just rebadge and import Chinese EVs. Most likely, Toyota will license another automaker's EV platform (e.g. VW's MEB platform) and that other automaker and other 3rd party suppliers will eat all of Toyota's margins, leaving Toyota no money to invest in developing their own EV platforms so they will forever be stuck licensing and rebadging other automakers' platforms.
Even if that is the case, keep in mind that soon we may switch to autonomous cars. That means that the automobile manufacturers just needs to sell tens of thousands of similar cars to mobilization providers like maybe uber, waymo. If that happens - and I believe it will happen - latest at that point toyota has no chance to survive.
The future of private ownership of transportation (automobiles etc) is coming to an end. After 2030 fleets will control transportation as TaaS takes hold and costs continue to climb for ice vehicles but decline for BEVs.
Trinitron was curved left to right from what I recall. Just flat vertically.
@@spacegamer85 That is completely correct! I take it you have read RethinkX's work.
@@mikes2221 Yes, robo-taxis will nearly eliminate private automobile ownership, but Uber will have nothing to do with this. They have zero moat. Tesla will likely stop selling cars and just launch their own fleet of robo-taxis.
Noooooooo does this mean I can't order my new Stout pickup?
How much of these car companies in financial difficulties and halting EV production (Ford, GM, Polstar/Volvo) has to do with the economy as a whole ie high taxes, stagnant wages, high cost of living ie, food, fuel and energy prices than the actual price of Ev's? Do people have money to spend in general on any major item as the greater percentile of people live from pay check to pay check and don't have 500€ or $500 in their account to cover an emergency bill. Aren't we glossing over the financial and economical realities of most people in the world right now ie we are broke and couldn't afford a new car regardless of price or who makes it. 🤔
Yes, Toyota has a lot of debt, but much of that is actually earning income. Toyota Financial Services (TFS) is wholly owned by Toyota Motor Corporation. TFS has a global network that is mainly concentrated on auto loans, leases and Toyota dealerships. These are solid income streams that making money.
Hybrid cars will be the boat anchor that takes Toyota to the bottom of the sea. This and the 15+ models the CEO is standing in front of.
Interesting information thanks
My pleasure
I have always loved using Japanese products. But the Japanese are a society that is incredibly afraid of change. This is also reflected in their understanding of doing business.
Thank you Sam. I’ve owned the 2015 Fiat Pop Ribelle edition before and a 1979 Fiat x19. I would consider a Fiat EV but for 30k?
Totally agree
Fascinating!👍🙏🙂
Glad you enjoyed it
What you are saying about Toyota makes sense to me. But Toyota's stock has been going up. I shorted it and lost money. Maybe I will short it again.
I have thought Toyota was toast for at least a decade.
Toyota sold 10.8 MILLION CARS IN 2021 vs. 960,000 of Tesla
You are not that smart then
It's unfortunate that Toyota has slept while the industry transformed, their hybrids were once cutting edge for green vehicles. I do hope that they get their act together.
This is what happens when one lives with a dictator mindset. Nobody can point out your mistakes & you are surrounded by all "YES" men who will suck up to every word you say.
Hybrids have been he cutting edge for people trying to be half pregnant. I never bought into that silliness, I was tempted until I did some research. Thank Goodness I went the BEV way and never looked back from my Teslas.
@@zizimai7568 Especially when the dictator is picked because he is a family member.
Wow. Great Video
Glad you enjoyed it
@@electricviking I really did! Waited 14 months for a Rav4 then gave up and cancelled. Thank goodness and good riddance!
You know a car is an utter failure when you have to give away 3 years of fuel as an incentive just to get people to buy the damn thing.
I imagine that these fuel incentives will happen in the late 2020's with Petrol and Diesel cars from the receivers of legacy auto that are trying to liquidate all their stock.
It's crazy the stock still goes up.
as any big brand Toyota stuck at what they know best unfortunately this is gonna hurt their bussiness
Toyota makes hybrid vehicles in Indiana and Kentucky. If they were to transition these vehicles to PHEV with the min battery size required for the IRA and get the batteries from a US supplier then they could qualify for the $7500 tax credit. I bet they could sell quite a few of these with prices below the price of full BEVs leveraging both their existing designs and the invested capital of existing plants. It may even make sense for them to expand the production of these PHEVs over the next few years while they transition to full BEV designs. I wouldn't be surprised if customers bought these for the gas engine range advantage & Toyota quality even if they never planned to plug them in. Think about apartment dwellers without access to charging.
Why is it that no one is experimenting with steam powered vehicles ? It is old technology that worked !
Record sales and profit. Sound like Kodak now?
It’s funny how when you do a search on Toyota, all the news is trying to make Toyota look great.
"Having their Kodak moment", I laughed so hard I almost drowned. I had coffee squirting out of my nose.
Japan doesn't have the electricity infrastructure to support an all EV fleet. I don't know if that had anything to do with their hesitancy to pursue EVs.
People make this argument all the time, but it is false. Japan, until the Chinese took the crown, was the world's largest auto exporter. Even if Japan couldn't support all EVs domestically, which is not true, they just ignored the world's two largest car markets?
There's a documentary: "The Rise and Fall of Nokia"... They document the Engineer who presented the idea of a touch-screen phone to Mangement, who nixed the idea!
Thanks. I have added that to my watch list.
Shorting weak stocks such as several weak car companies in a recession and bear market is easy money. 😂 it’s just like investing in the best car companies in a bull market.
The number one manufacturer in the world and North America!!! Out sold General Motors 2022, first time since the 30's!!!
Good potential theory. Maybe Toyota could be investing in engineering related to change in product, productivity and production. The Toyota Camry Hybrid is a brilliant value based product that will take it until it can go electric. Bring on more options that compete, anywhere by anyone. Let the substance rule.
SAM it is absolutely heartbreaking that the one company that brought us the most reliable cars to date in the history of man is failing. FORD & GM are trash, and they deserve to die. However, Toyota did so much for giving families and working people reliable vehicles. It is sad that Toyota leadership did not have better judgment and realize that Elon musk figured the game out. At this point, the one thing that could save Toyota would be if they went into a joint-business deal with Apple, that is the only thing that could save Toyota at this point.
you my friend, are living in a place called fantasyland. Toyota will NEVER join Apple as they are two completely diffrent companies. Toyota is an automaker. Everyone wants GM, Ford, Stellantis to fail and be bought out by Tesla. Keep dreaming.
@@SkippyPB. You have revealed your ignorance child. 😂
It's sad for the Japanese people, as well. This will obliterate their economy. And a lot of this is due to nepotism.
They had it coming!
The word hubris comes to mind when I think of Toyota
opposite....hubris to think EV's will dominate in next few years without billions going to improve Electricity infrastructure.
I thought Toyota sales world wide is increasing
Viking was that a sales chart or a EKG?
Do you have Q3 Statement, I have been trying to find but couldn't?
At least Kodak had many worthy patents to trade/sell.
If Kodak had been in California instead of Rochester, they would have become Adobe.
so interesting, I would never have guessed such a stellar car company could be in so much debt. You don't rack up that kind of debt overnight. Is it simply bad management? Total fixation on volume, (essentially dumping cars on the market) profit be damned? What is the reason? Stunning comparison with Tesla who has been investing in infrastructure like mad has been able to pay down their debt to just $4B now. Amazing example of how uncontrolled debt can kill a company (and therefore also a country).
Tesla survived and actually thrived during the supply chain issues because they are vertically integrated and very agile in all aspects of their manufacturing. Most American OEMs outsource the manufacturing of many of the parts that go into their cars.
Was living in Japan in 2015 when learning about this transition. I knew Toyota was going to be in trouble. And here we are. Well well.
Toyota Motor Corp. sold a new record 11.2 million vehicles worldwide in 2023, a 7.2% year-over-year increase, according to company sales information released recently.
Lexus, the automaker's luxury brand, sold a record 824,258 vehicles last year, a 132% YoY rise in sales.
And when EVs have matured those buyers will purchase a Toyota/Lexus EV 👍
its like the 70's-80's coming full circle.
Remarkable
Toyota’s July-September 23 profit jumped nearly threefold from a year ago as vehicle sales grew around the world and a cheap yen boosted the Japanese automaker’s overseas earnings.
Toyota Motor Corp. reported Nov. 1 1.28 trillion yen ($8.5 billion) in quarterly profit, up from 434 billion yen the previous year. Quarterly sales rose 24% to 11.43 trillion yen ($75.7 billion) from 9.22 trillion yen.
Until they are forced to make the battery packs easily removed and installed , and serviceable. They will continue to see resistance in the market .
Drowning in debt at a time they need to be the most agile with a car they can only sell at a loss