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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.

Join Autoblog editors for a full video tour of the 2019 Detroit Auto Show

The 2019 North American International Auto Show might have been a little more quiet than past years, but there were still some pretty major reveals, including the Toyota Supra, new Ford Explorer, Shelby GT500, Subaru WRX STI S209 and Kia Telluride. We also saw some lovely concepts like the Nissan IMs and Lexus LC Convertible. Senior Editor Alex Kierstein, Consumer Editor Jeremy Korzeniewski and Senior Green Editor John Beltz Snyder join me, Associate Editor Reese Counts — with Social Media Manager Michael Dylan Ferrara behind the camera — on a long walk through the show. We discuss cars, poke around the stands, dress a bloody wound and answer your questions in the Facebook comments. For more Detroit coverage, you can check out Autoblog's picks for the best in show, listen to our podcast or look at the best images from all the reveals. Finally, don't forget to watch Editor-in-Chief Greg Migliore hand over our 2019 Technology of the Year award. Related Video: Green Detroit Auto Show Acura Cadillac Chevrolet Ford GM Hyundai Infiniti Kia Lexus Nissan RAM Subaru Toyota Volkswagen Truck Convertible Coupe Crossover Hatchback Minivan/Van SUV Videos Sedan facebook 2019 detroit auto show live

2020 Lexus LX 570 Sport Package is sporty like tube socks

The Lexus LX is enormous, square, old, and expensive. It is also very luxurious, and now it has a sporty version, with Lexus announcing the Sport Package for the 2020 LX 570. But you can only get it on the three-row trim, the least jazzy of the bunch. The styling makeover adopts a sport grille, which means an ornate mesh instead of slats in the spindle opening, and a new lower portion that appends parallelogram intakes at the corners. Not only do the vents appear to be non-functional, they look like aftermarket afterthoughts. The sides get body-colored mirrors with chrome accents, while in there's a tweaked lower rear valance. Inside, leather-trimmed seats come in either Black, Cabernet, or exclusive Moonlight White, under a black headliner. If our numbers are correct, Lexus has bumped 2020 LX prices up by $150 across the admittedly small board. The base, two-row model will start at $86,380. Assuming the destination charge holds steady at $1,295, that makes for a total of $87,675. The three-row will need $92,675. Lexus Safety System+ comes standard, with assistance features such as Pre-Collision System with Pedestrian Detection, Lane Departure Alert, Intelligent High-Beam headlamps, and adaptive cruise control.  When the range goes on sale in September, the LX 570 with the Sport Package will cost $100,595. That seems like a weighty chunk for minor ornaments; however, the Sport Package automatically adds the Luxury Package, which adds features like heated and ventilated seats, four-zone climate control, LX projector door lamps, and a la carte options like the 19-speaker Mark Levinson audio and the 21-inch wheels. Optioning a 2019 model with to the same spec comes to $97,935, so the Sport Package comes to $2,310 after subtracting the $150 price increase. That also seems like a lot, considering the Luxury Package already provides the option of Cabernet seats. But the LX is a special kind of beast. Any truck that can run with a multi-terrain system mode called Mogul instead of Snow doesn't have to live by the same rules as other terrestrial rigs. That's what you can do when you're a dinosaur that "packs in a lot of charm."