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Toyota sees profit slip but beat earlier forecasts

TOKYO — ToyotaÂ’s July-September profit fell 11% from a year earlier as the coronavirus pandemic slammed global demand, but JapanÂ’s top automaker appeared to be holding up better than weaker rivals that have sunk into the red. Toyota reported Friday a quarterly profit of 470.5 billion yen ($4.5 billion), down from 530 billion yen a year ago. Quarterly sales slipped to 6.77 trillion yen ($65 billion) from 7.64 trillion yen. Its president, Akio Toyoda, told reporters Toyota employees worked extremely hard, including making masks and face shields and boosting efficiency at factories to achieve results despite the pandemic. “Toyota has become gradually stronger,” he said, offering gratitude and praise for how resilient Toyota has proven itself to be. “This shows how each individual worked so hard,” said Toyoda, the grandson of the automakerÂ’s founder, vowing that each of its employees will keep thinking about contributing to a better world. Toyota raised its global sales forecast to 9.4 million vehicles for the fiscal year through March 2021, better than its earlier forecast for 9.1 million vehicles. ThatÂ’s still lagging behind the more than 10.5 million vehicles sold in the last fiscal year. Toyota, based in Toyota city in Aichi, central Japan, said it expects to record a 1.4 trillion yen ($13.5 billion) profit for the fiscal year. It earlier projected 730 billion yen ($7 billion) in profit. Toyota, which makes Lexus luxury models and the Prius hybrid, recorded 2 trillion yen ($19 billion) in profit the previous fiscal year. ToyotaÂ’s operating income fell in most regions, including Japan and other Asian markets, but improved in North America. Operating Officer Kenta Kon expressed caution about the U.S. outlook, given the rising coronavirus cases. But he said ToyotaÂ’s latest models were popular, and dealers were adjusting incentives to get good results. All the worldÂ’s automakers have been slammed by shrinking demand as COVID-19 squelches economic activity. Some nations, including Japan, have sunk into recession. Although uncertainties persist about further outbreaks and when a vaccine might be available, there are signs of recovery in some parts of the world. Japan has managed to keep pandemic-related deaths at fewer than 2,000. It has reported about 105,000 cases nationwide.

Next Lexus LX 600 and LX 750h specs reportedly leaked

Specs for the next Lexus LX appear to have been leaked to a Japanese blog. The flagship luxury SUV will reportedly come in two flavors, and offer greater differentiation from its Land Cruiser cousin than ever before. One of those variants is, for the first time, a hybrid version. The Japanese site Creative Trend reported on the 300-series Land Cruiser specs before most, and aside from some small discrepancies in horsepower and torque numbers, was surprisingly accurate. They even called the existence of a GR Sport performance trim level. Now, they've turned their focus to the LX. As translated by Lexus Enthusiast, the entry spec will be called the LX 600, and will likely feature the Land Cruiser's 3.5-liter twin-turbo V6. That should be good for an identical 415 horsepower and 480 pound-feet of torque. Creative Trend adds that in the Middle East, the entry model will be called LX 500d, implying it'll be equipped with the Land Cruiser's turbodiesel 3.3-liter V6 generating 309 horses and 516 lb-ft.  The flagship model, however, is said to be the LX 750h, which adds a hybrid-electric system to the 3.5-liter petrol V6. Together, they'd make a potent 480 horsepower and 642 lb-ft of torque. This powertrain is not available on the Land Cruiser. In addition, the LX will have a more luxurious and high-tech interior, with a rumored version of the new Lexus Interface that appeared on the new Lexus NX. However, whereas the NX sports a 14-inch version of the screen, the LX will reportedly receive a 17-inch version. Incidentally, it seems the LX may have already been seen in the NX's reveal video, albeit under a white cloth. Additionally, we have it on good authority from friends in Japanese media that both the Land Cruiser and Lexus LX will, in Japan, feature a fingerprint recognition system on the engine start button. The off-roaders routinely top the stolen vehicles list in Japan, with about 5 out of every 100 registered vehicles stolen every year and rates increasing. Most of them end up being shipped overseas where Land Cruisers and Lexus LXes are seen as tough status symbols. Lastly, the report says Lexus Japan will start accepting pre-orders in September, with the LX itself debuting in December. While we are sadly not privy to the new Land Cruiser, it's likely the Lexus LX will arrive stateside. Whether these specs carry over remains to be seen. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences.

2019 Toyota Avalon vs. full-size sedans: How they compare on paper

Full-size sedans aren't exactly in great demand at the moment, and at least one of the vehicles in this comparison has been rumored to be on the endangered species list. Yet, we've just had our first drive in the 2019 Toyota Avalon, and if anything has a chance of rejuvenating the segment a bit, it's an all-new version of what has long been the segment's benchmark. To see how the new Avalon compares, we've put together the below spreadsheet featuring the Avalon's primary apples-to-apples rivals, the Buick LaCrosse and Chevy Impala. We also included the Nissan Maxima, which is comparable in price, sales and non-luxury badge, and which offers the sort of increased driver engagement promised by the new Avalon XSE and Touring trim levels. We also included the outgoing Avalon for reference as well as that car's luxury cousin, the Lexus ES, which can definitely be cross-shopped with the luxuriously trimmed Avalon Limited. You can use our Compare Cars tool to create your own comparison, such as one featuring the rear-wheel-drive Chrysler 300, Dodge Charger or even Kia Stinger. Alright, enough chit chat. On to the spreadsheet. Performance and fuel economy The GM sedans may come standard with four cylinders, including a mild hybrid system in the LaCrosse, but puh-lease. The V6 is the name of the game in this segment, with outputs now surpassing the 300-horsepower mark. The LaCrosse is the horsepower and torque champ, though it also weighs a bit more than the new 2019 Avalon, so acceleration is likely to be comparable. The Impala weighs a lot more and has only a six-speed automatic, so despite having a wee bit more power, one should expect it to be pokier (not a good sign for a car rumored to be on the chopping block). One would expect the Maxima's 300 hp and lowest curb weight to result in the quickest acceleration, but then it's also strapped to a CVT, which despite being better than ever, is still a CVT. Things get worse for Chevy when you consider the Impala's base four-cylinder gets the same 25 mpg combined as the Avalon's V6 — once again a segment best. Now, should you really prioritize fuel economy, the 2019 Toyota Avalon Hybrid really stands out with a 43 mpg rating (or 44 with the base XLE trim) that bests the outgoing Avalon Hybrid. Honestly, after driving this new Hybrid, it actually seems like it would be the best bet for most buyers. There's sufficient power, and it only costs $1,000 more than the comparable V6 version.