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Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Lexus LC convertible could appear in 18 months, LC F to follow

Auto Express reports that Lexus has a approved a convertible version of the LC, and is close to green-lighting a high-performance LC F trim. The Detroit Bureau reported that the same two models were in development one year ago, citing Lexus sources at the Detroit Auto Show who told the outlet "a number of additional variants" would follow the coupe's launch. The timeline's been stretched a bit between then and now; instead of getting the convertible this year, Auto Express says the "done deal" droptop should arrive in 18 months to two years. It's harder to read what we might get in an LC F. Gossip is that the naturally aspirated, 467-horsepower, 5.0-liter V8 wouldn't be the right motor for a hot LC. That V8 serves in lower-tier F models. so word is that Lexus engineers are considering a 4.0-liter, twin-turbo V8 with around 600 hp. Lexus chose the BMW 650i, Mercedes-Benz S-class coupe, and Jaguar F-Type as competitors to the LC, all of which have convertibles and high-performance trims. Among the specially-tuned challengers, the Jaguar F-Type R comes in with the lowest power figure at 550 hp. Both models would return Lexus to a small, exclusive end of the market where it hasn't held a membership since 2010. Rejoining that soiree — a party hosted by the Germans, because these matters always come back to the Germans — is another huge, and costly, step toward shedding Lexus' somnolent image. Akio Toyoda said the goal for his luxury arm was "that the words 'Lexus' and 'boring' never appear in the same sentence again." A three-model lineup would give the LC a genuine chance to contribute to that aim. Related Video: Featured Gallery 2018 Lexus LC 500 First Drive View 44 Photos News Source: Auto Express Rumormill Lexus Convertible Coupe Luxury Performance lexus lc 500

Toyota recalls pre-collision system on Avalon and ES models

Toyota is recalling 31,000 US examples of the 2013-2015 Avalon, Avalon Hybrid, Lexus ES350, and ES 300h because the Pre-Collision System could potentially cause an accident. According to the company, it's possible for the safety aid to misidentify a steel joint or plate in the road as a hazard and apply the brakes. The sudden, unexpected activation could lead to a crash. Toyota spokesperson Cindy Knight told Autoblog that the company has reports of two accidents in the US related to this issue, and there are also two alleged injuries. The company has no reports of fatalities. Toyota is taking a serious approach to deal with this problem. First, the company plans to disable the system on these sedans. Once the parts are available, dealers will replace the system with improved components. The company doesn't yet know when these repairs will begin, but owners should receive notification of the recall in November, according to Knight. Toyota isn't alone in needing to tweak safety equipment. Ford faced a similar issue when the company recalled 36,857 examples of the 2015 F-150 because passing a large, reflective semi could inadvertently activate the collision warning system. An update for the adaptive cruise control module software fixed the problem. TOYOTA RECALLS CERTAIN AVALON AND LEXUS ES VEHICLES TORRANCE, Calif., November 3, 2015 – Toyota Motor Sales, USA, Inc. today announced that it is conducting a safety recall of approximately 31,000 Model Year 2013-2015 Avalon, Avalon Hybrid, Lexus ES350 and ES300h sedans. In the involved vehicles, under certain situations, the PCS (Pre-Collision System) could interpret a steel joint or plate in the roadway as an object that triggers PCS activation. If this occurs, the PCS warning buzzer sounds and the system may apply the service brake automatically. Unexpected braking could increase the risk of a crash. For all involved vehicles, the PCS function will be disabled as an interim remedy. As the permanent remedy, Toyota dealers will replace PCS components with improved ones. Information about automotive recalls, including but not limited to the list of involved vehicles, is subject to change over time. For the most up-to-date Safety Recall information on Toyota, Lexus or Scion vehicles, customers should check their vehicle's status by visiting toyota.com/recall and entering the Vehicle Identification Number (VIN). Safety Recall inquiry by individual VIN is also available at the NHTSA site: safercar.gov/vin.