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Toyota will invest $210 million to expand West Virginia engine production

WASHINGTON — Toyota is investing $210 million to expand engine production in West Virginia and add 100 new jobs. The Japanese automaker said it would boost capacity by 70,000 engines a year at the Buffalo, West Virginia plant, up from the nearly 1 million transmissions and engines it produces annually for vehicles assembled in North America. The investment will increase assembly capacity of its four-cylinder engine line. The plant makes four- and six-cylinder engines for Avalon, Camry, Corolla, Highlander, Lexus ES, Lexus RX350, RAV4 and Sienna. The investment comes as automakers around the world are shifting more focus to electric vehicles and away from vehicles powered by internal combustion engines. Toyota says hybrid vehicles, which includes internal combustion engines, will be a key part of its vehicle strategy in the coming decade as other automakers focus more heavily on battery electric vehicles, which only run on electric power. Toyota said last week that 16% of its U.S. sales were hybrid vehicles in 2020, a figure that will jump to at least 20% in 2021. Related Video:

Lexus LC Coupe and Convertible add a bevy of official TRD parts

TRD stands for Toyota Racing Development, but that doesn’t stop the performance division from developing parts for Lexus products, too. One of those Lexus products it just released a set of performance parts for is the LC 500. The two-door coupe is our favorite Lexus for sale right now because of its excellent driving dynamics and stunning looks, so adding more performance is a good thing, right? WeÂ’ll stop short of saying itÂ’s a great thing for appearances in this particular instance. The parts shown here tend to muss up and clutter the LC's otherwise gorgeous design. That large rear wing, aero cowling above the rear seats and aero mirror cover all notch the aggressiveness up a level, but it makes the styling look a bit messier in photos. TRD does claim real performance gains from the parts, though. The modified side skirts reduce the amount of wind flowing to the rear tires, which makes the car slipperier through the air — TRD also claims a benefit in fuel economy and reduced wind noise. There are three new wheel designs, all offering a reduction in weight over the stock wheels and an improvement in rigidity. The wheels pictured on the car are the Lunanium Gun Metallic option. TRD says the giant aero cowl reduces wind noise in the cabin for the LC Convertible, and the big rear wing improves vehicle stability. Other available parts include a front spoiler (adds downforce, lowers front clearance by 30 mm), rear diffuser (adds moderate downforce, says TRD), smaller rear spoiler (improves stability at speed), and a “performance damper.” Details are short on this damper, but we can assume itÂ’s slightly stiffer than stock and could offer a noticeable handling improvement. ThereÂ’s a 3-D mini configurator you can play around with on TRDÂ’s site, too. You can only choose between the exterior color, interior color and aero cowl cover, but itÂ’s worth it to see what the mods might look like on your particular LC. Interestingly, the aero cowl sitting above the rear seats can be had in either black or white. Availability of the parts in the U.S. is still unclear, but weÂ’re reaching out to TRD and will update with any news we might hear.  Related video:

The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.