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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.

2020 Lexus GS F Review & Video | Looking past the numbers

You don't hear much about the 2020 Lexus GS F. It's been out for a while now, the model having debuted for 2016 and the base GS sedan stretching all the way back to 2012. That's an awful lot of time for the automotive world to whiz by, especially in the upper echelon of performance sedans. Packing 467 horsepower is suddenly weak sauce when rivals have crested the 600-hp plateau. The fact that Lexus still hasn't convinced the automotive enthusiast community at large that it actually makes compelling performance machines certainly doesn't help.  To be perfectly honest, I have avoided testing the GS F for several years now. "Who's going to buy that?" I've pondered, considering all of the above plus its $85,000 price tag. Nevertheless, I've got more time on my hands these days to test more cars and a Lexus Flare Yellow paint job is impossible to ignore, so hey, why not? Well, after a week, I didn't want to turn over the keys. When faced with first-world automotive journalist problem of picking between the the Flare Yellow GS F and the BMW M340i also parked out front, I quickly chose the Lexus. And if I had $85,000 to spend on a high-powered luxury sedan, I honestly think I'd happily choose it over the Germans that outdo it on paper. Many of you will think that stupid and will point to the numbers at hand. The GS F's 5.0-liter V8 sends 467 hp and 389 pound-feet of torque to the rear wheels only, and is capable of a 0-60 run of 4.5 seconds. A BMW M5 has 600 hp and hits 60 in 3.2 seconds; the lesser M550i has 523 hp and a 3.6-second time. That M340i xDrive also in my driveway? It hits 60 in 4.1. Over at Mercedes-AMG, the E 63 has 603 hp and a 3.3-second time. Only the lesser E 53 is comparable to the Lexus with 429 hp and a 4.4-second 0-60 time. Its torque is also comparable, unlike the rest of those Germanic monsters that utterly roast the Lexus. However, all of that extra output and all of those quicker times are also indicative of the very reason the GS F remains so desirable. It doesn't have a turbocharger, ensuring unencumbered response, a zesty 7,800-rpm redline and marvelous noises that don't require the sound enhancement feature Lexus throws in anyway (and that I turned off). It also doesn't require all-wheel drive to quell elephantine gobs of tire-shredding turbocharged torque, thereby letting the front wheels simply handle the steering. The rears, meanwhile, can smoke away and swing loose should you disable the appropriate settings to do so.

Why the 2015 Detroit Auto Show will be the best since The Crisis

The Detroit Auto Show clearly has its swagger back, and the 2015 edition will be a veritable feast for the enthusiast senses. We're talking serious performance, and it will be exhibited in a variety of forms. Sports cars. Supercars. Muscle-bound luxury cars. They're all set for splashy debuts in January in the Motor City. It's another signpost that companies have recovered from the global economic crisis that gripped the industry from 2008-09. For a while, automakers played it safe at Detroit and other shows. Environmentally friendly cars were important, especially for General Motors and Chrysler that were living on loans from Uncle Sam. Ford, Toyota and other companies generally focused on their best-selling or core models. With a few notable exceptions, recent auto shows have been a bit more buttoned-down than in the past. Boring probably isn't the right word, but austerity has been reality. That's changing. Car companies are making money. Sales are up. Aside from the many nagging recalls – and they are notable – the industry now has the time and energy to make performance cars a priority. That will be offered in hard evidence in Detroit. A year from now when we look back at this auto show, we'll sum it up with one word: Horsepower. But make no mistake, this isn't frivolous. Sports and luxury cars are expensive. They're profitable. They boost images and highlight strengths. With that in mind, here are five significant performance-oriented reveals to watch for when the show kicks off in less than two weeks. 2016 Acura NSX Acura's reborn NSX is a strong bet to earn plenty of votes for our Editors' Choice awards. It's one of the most anticipated – and strung-out – reveals of the year. Think back: we actually saw an NSX concept at the 2012 Detroit show, and Acura has spent the last three years teasing the car in a variety of ways. The slow burn, however, means we know a lot about the NSX. It's will use a mid-mounted twin-turbo hybrid powertrain and run with all-wheel drive. It will also wear an innovative zirconium e-coat paint, a new paint process that Honda says is more environmentally friendly. Honda has also said it will build the new NSX in Ohio, where a large part of the car's development work has been done. The original NSX was produced from 1990-2005 and helped establish Acura's performance credentials in the United States. It was a landmark car and a shot across the bow of Ferrari, Lamborghini and others.