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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.

Best and worst car brands of 2022 according to Consumer Reports

It's that time again, Consumer Reports this morning lifting the curtain on its 2022 Annual Car Brand rankings and its 10 Top Picks in the car, crossover, and truck category. Drumroll, please: This year, Subaru climbs two spots to claim the winner's circle, having come third the last two years. Last year, Mazda climbed three spots from 2020 to take the crown. This year, Mazda slipped to second, BMW taking the last spot on the podium, also a one-spot drop from 2021. Six automakers in the top 10 hailed from Japan, which is one more than last year, and five luxury makers occupied the top 10, which is two more than last year. And South Korean representation didn't crack the top this year, after Hyundai managed tenth last year. The seven makes after BMW are: Honda, Lexus, Audi, Porsche, Mini, Toyota, and Infiniti.  The magazine and testing concern says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CR’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." The domestics also took steps back among the 32 OEMs ranked on the 2022 card. Chrysler and Buick were the domestic carmakers who made last year's top 10 in eighth and ninth, respectively. This year, Buick dropped to eleventh, Chrysler to thirteenth. Dodge went from fourteenth to sixteenth. CR continues to ding Tesla's yoke steerer, the not-exactly-natural handhold responsible for the electric carmaker going from sixteenth last year to twenty-third this year.

2019 Lexus ES350 F Sport Drivers' Notes | Some F, more luxury

The 2019 Lexus ES 350 is a big step in the right direction for the Camry-sized sedan. It looks eons better than the last ES, and it has the Lexus ride and luxury to back it up. Lexus redesigned the mid-size sedan for the 2019 model year, putting it on Toyota’s TNGA platform. ItÂ’s a good place to be, as every new Toyota that has come out on this architecture is more dynamic and comfortable than the last. Lexus even went so far as to add optional adaptive shocks to the equation, which stiffens up the ride in Sport mode. Our first tester was this gorgeous, blue F Sport model, which is comparable to the one West Coast Editor James Riswick drove last year. Consumer Editor Jeremy Korzeniewski tested an ES 350 with Lexus' top Ultra Luxury package. Our blue test car came with the aforementioned adaptive suspension, but the F Sport also gains 19-inch wheels and trim-exclusive sport seats. A Sport+ driving mode is added with the adaptive suspension, as well, joining the existing Sport, Normal and Eco modes. Without options, the ES 350 F Sport is a $45,160 car. All our tester's extras brought the final price to $54,450. The most expensive addition was the Mark Levinson audio system, combined with navigation for a hefty $2,900. Blind-spot monitoring with rear cross-traffic alert costs $1,065; triple-beam LED headlights are $1,515, and the adaptive suspension is $750. A swath of unnecessary accessories balloon the price even higher, but itÂ’s still cheaper than many of the German sedans. A generously equipped car could come in right around $50,000 if youÂ’re willing to compromise on a few amenities. Editor-in-Chief Greg Migliore: IÂ’m going to zero-in on the infotainment system's touchpad, which sits to the right of the driver. ItÂ’s tricky to use, especially while driving. To be fair, I didnÂ’t spend a ton of time in this otherwise enjoyable ES 350 F Sport, but tuning the radio and toggling through the different sources (FM, XM, etc.) shouldnÂ’t require all that much education. There are redundant controls for some of the functionality, but this still isn't great. You can do a lot of things with this touchpad -- flick, zoom, scroll -- itÂ’s good in theory. But in practice, I find it annoying, and in traffic it can be distracting. There are simpler solutions that are better. Toyota has plenty of good tech hardware. The next day I drove an Avalon hybrid and had no issues with the touchscreen-operated infotainment. There was almost no adjustment period.