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Toyota raises Japanese base wages for first time since 2008

Toyota is on track for record profits, and in return, its Japanese workers are receiving their first increase in base wages since 2008, plus higher pay based on seniority and a larger bonus for 2014. The Japanese automaker predicts the average laborer will net a 2.9 percent income gain.
The average Toyota employee will earn 2,700 yen ($26.28) more each month, a 0.8 percent increase from last year. Workers will also receive about 7,300 yen ($71.09) more monthly based on seniority and promotions. Finally, the company's union pushed through a median bonus of 2.44 million yen ($23,768) for 2014, the highest in 6 years.
The pay boost comes as Toyota forecasts a record 1.9-trillion yen ($18.5 billion) profit for the fiscal year ending on March 31, according to Bloomberg. It has been helped by the Japanese government's efforts to weaken the yen on international markets and expand inflation. Prime Minister Shinzo Abe has been asking businesses to increase compensation to end years of deflation and offset upcoming higher sales taxes. Honda and Nissan have also raised their wages there in recent months.

130,000 Toyota Tundra pickups recalled over airbag issue

Toyota is announcing a recall for about 130,000 examples of the 2014 Tundra Tundra pickup in Crew-Max Cab and Double Cab configurations.
According to the company, the "garnish on the center pillars" inside the trucks might not have been installed correctly. If the vehicle were in an accident, the side curtain airbags could deploy in the wrong shape. Toyota says that it's not aware of any crashes, injuries or fatalities related to this potential problem.
To fix the issue, the pickups will have their interior center pillars inspected, and if faulty, the pieces will be replaced. Obviously, this will be done at no cost to owners. Scroll down to read the full announcement.

VW targeting 10M sales in 2014

Volkswagen Group believes it can sell over 10 million vehicles in 2014, with hopes of overtaking Toyota as the world's largest automaker in the process. If VW can do it, it would meet that goal four years earlier than planned. Of course, Toyota isn't sitting still - it also hopes to top the 10 million-car threshold this year and has the advantage of already holding the top spot.
"With rising volume and new models, we will increasingly see positive earnings effects as well," said VW Group CEO Martin Winterkorn during its annual press conference, according to Automotive News. The company is spending huge amounts of money to propel it to the top, investing 84.2 billion euros ($117 billion) through 2018, and according to AN it plans to introduce over 100 new models worldwide among all of its brands by the end of next year.
The German automaker may get an extra boost as the European car industry shows signs of emerging from its yearlong stagnation and China continues to grow. In January, VW Group was up 8.5 percent in Europe and 15.5 percent in China, according to its own figures. However, the US has been slowing with Volkswagen brand sales down 19.04 percent in January and down 13.81 percent in February.