News Briefs: Toyota Profits Top GM, Ford+GM Production Changes
According to reports, Toyota is set to announce its fiscal year results soon and it is expected to be a $10 billion net income. While Toyota posts a big increase, Ford, sales growth, and GM, new models, are making changes to their plant production. All of this news is good for the economy.Toyota’s Profit
The expected earnings report amounts to a 12 sales growth versus last year. This number is proof that Toyota has regained its market share after some challenging times including recalls and natural disasters. The $10 billion in net income would put Toyota ahead of General Motors, the disputed #1 automaker in the world.
Ford Cuts Downtime
In response to a high demand for its products, Ford plans on cutting back its annual downtime from two weeks to one. This will result in about 40,000 more vehicles being built. This is good news for everyone since more production means more jobs and more people spending.
GM Temporarily Closes Plants
As we have been reporting, GM is working on the next-generation Chevy Silverado and GMC Sierra. This preparation now includes rolling closures at several plants that will add more than 20 weeks of total idle time. This has caused some dealers to increase inventory.
The redesign of GM’s full size trucks is long over due since they are the oldest design of Ford, Chrysler and Toyota.
The plan is for the new trucks to arrive in dealerships in spring 2013 as 2014 models.
Filed Under: Auto News