TOKYO—Toyota Motor Corp. sold 10.5 million vehicles in 2022, it said on Monday, defending its title as the world’s top-selling automaker for a third straight year. Global sales for the group, including truck unit Hino Motors and small-car maker Daihatsu, inched down 0.1o percent as record overseas sales of 8.6 million vehicles helped offset a…
Boeing to Hire 10,000 Workers in 2023 as It Ramps up Production
WASHINGTON—Boeing expects to hire 10,000 workers in 2023 as it recovers from the pandemic and increases jetliner production, but will trim some support jobs, the U.S. planemaker said Friday. The Arlington, Virginia-based company boosted overall employment by about 14,000 workers in 2022 to 156,000 as of Dec. 31, up from about 142,000 in 2021. Boeing…
Toyota Says It Could Produce 10.6 Million Vehicles in 2023
TOKYO—Toyota Motor Corp. on Monday said it could produce as many as 10.6 million vehicles this year, while warning of downward risk to its projection from the possible impact of issues such as parts supply shortages and COVID-19. The car giant said that it saw a downside risk of about 10 percent on that baseline…
Toyota’s November Global Vehicle Production Rises 1.5 Percent to Record 833,104
TOKYO—Toyota Motor Corp. reported on Monday a 1.5 percent rise in November global vehicle output, reaching a new record of 833,104. Domestic production slid 3.3 percent to 266,174 vehicles, while overseas output rose 3.8 percent to an all-time high of 566,930 for the month. Global sales and production in November exceeded last year’s levels due…
Truckers Group Expects Increased Diesel Production, Sustained Elevated Price
While diesel fuel production is expected to increase, there isn’t much hope the price will decrease. The price of regular gas ahead of the Thanksgiving holiday travel season has come down. The average in Illinois is $3.97 a gallon, higher than the national average of $3.63. Illinois’ average is down from last month’s $4.24 average,…
US Permian Oil Production Forecast to Hit Record in November: EIA
October 18, 2022
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Business & Marketseconomic policieseconomyEIAenergyGold and CommoditiesMarketsOilproductionshaleTexas
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NEW YORK—Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is forecast to rise by about 50,000 barrels per day (bpd) to a record 5.453 million bpd in November, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. U.S. crude oil output in major…
German Companies Look at Offshore Production as Energy Prices Rocket
October 10, 2022
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Business & MarketsCompaniescrisiseconomic policieseconomyenergyEuropeGermanyinflationMarketsoffshoreproductionrecessionRussia-Ukraine WarUkraineWorld
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BERLIN—Germany’s 200 billion euro ($197 billion) energy aid package will provide limited relief for businesses and is unlikely to dissuade companies that are already looking to relocate to cheaper manufacturing bases overseas. The German government set out its energy relief package last month, including a gas price brake and a cut in sales tax for…
US Manufacturing Nearly Brakes, Price Pressures Abating
WASHINGTON—U.S. manufacturing activity grew at its slowest pace in nearly 2–1/2 years in September as new orders contracted amid aggressive interest rate increases from the Federal Reserve to cool demand and tame inflation. The Institute for Supply Management (ISM) survey on Monday also showed a measure of manufacturing employment contracted last month for the fourth…
Rivian Produces Over 7,000 Vehicles in Third Quarter, Maintains Full-Year Target
Rivian Automotive Inc. said on Monday it produced 7,363 vehicles at its manufacturing facility in Normal, Illinois, and delivered 6,584 vehicles in the quarter ended Sept. 30. The company also reiterated its full-year production target of 25,000 vehicles, sending shares up 9 percent in post-market trade. The Amazon.com Inc-backed electric vehicle company produced 4,401 and…
Tesla Vehicle Deliveries Fall Short in Q3, Causing Shares to Dip
Deliveries of Tesla vehicles fell short in the third quarter despite setting a new record, according to a report published by the company over the weekend, causing shares to tumble. The electric vehicle (EV) company said it requires a further boost in sales in the last quarter of 2022 to meet its annual growth target for…
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