It's still pondering how to use all that extra dough.
Despite a global economy that’s still working to get back on track, the auto industry, especially in the US, has remained solid. Ford, GM and Chrysler (well, Fiat Chrysler) are all healthy again, but there’s another major automaker that’s now sitting on a huge sum of cash that it doesn’t know what to do with. For all of the issues that have plagued it recently – natural disasters and recalls – Toyota, it’s being reported, has amassed a cash pile exceeding $35 billion.
The Japanese automaker is also predicting that it’ll end fiscal year 2013 with a record profit of about $18.8 billion. Obviously Akio Toyoda, who got off to a rocky start being CEO of the company founded by his grandfather when he testified before a US Congress committee over that whole unintended acceleration fiasco, has proven himself as an effective leader. So now the question is: what exactly will Toyota do with all of that spare cash? Many argue that Toyota needs to invest more in production capacity, specifically in China. For now, Toyota isn’t saying much, other than it intends to continue building "cars where the demand is."