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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.

Genesis, Kia, Lexus EVs earn spots on the IIHS Top Safety Picks+ list

A trio of 2023 electric vehicles — the Hyundai Ioniq 6, Lexus RZ, and Genesis Electrified GV70 — have just earned the Top Safety Pick+ rating by the Insurance Institute for Highway Safety. The prestigious award from the IIHS requires that the cars and SUVs achieve top scores in a number of crash tests and that they have an “Advanced” or “Superior” front crash avoidance system that activates to help inattentive drivers prevent vehicle or pedestrian crashes. Previous selections for the award among EVs have included the Rivian R1T/R1S, Kia EV6, Hyundai IONIQ 5, and Tesla Models 3/Y. To earn the “+” designation, the agency stipulates that headlights rated “Acceptable or Good” must be standard across all trims, and that a front crash prevention system that earns Advanced or Superior ratings in both the daytime and nighttime vehicle-to-pedestrian evaluations be available. The GV70 earned “Advanced” ratings in both the daytime and nighttime vehicle-to-pedestrian front crash prevention evaluations. The Ioniq 6 and the Lexus RZ earned “Superior” ratings in these two tests. “To be environmentally friendly, our vehicles and our cities also need to be pedestrian-friendly,” said IIHS President David Harkey. “All three of these vehicles have standard front crash prevention systems designed to protect pedestrians both during the day and at night, when most fatal pedestrian crashes happen.” Overall in its latest list, the IIHS named 51 cars in the “Top Safety Pick+” grouping, and 25 in the secondary Top Safety Pick tier. ThatÂ’s down from 101 total award-winning models last year, likely because the organization has implemented its tough new side-impact test and is also testing for night-time pedestrian detection for collision warning and prevention systems. The IIHS is one of two major automotive safety rating organizations, along with the federal government's National Highway Transportation Safety Administration. IIHS is a private organization funded by insurance companies. By the Numbers Genesis Kia Lexus Green Automakers Insurance Safety Electric

Lexus RC F sets the pace Down Under

A few months back we reported that Lexus was considering competing in V8 Supercars, Australia's premier touring-car series. And while it might not be ready to launch a campaign of its own, the Japanese luxury automaker has done the next-best thing. Starting this season, the Lexus RC F will serve as the series' official safety car. The eight-cylinder muscle coupe appears to be mechanically unmodified, as it is apparently suitable to the task right out of the showroom. It has, however, been enhanced with a special livery, emergency lighting and an interior likely to have been upgraded with bucket seats, racing harnesses, a roll cage and emergency equipment. The RC F safety car will be joined by an IS 350 F Sport that'll serve as the medical car and another GS 350 F Sport support vehicle, giving Lexus a strong presence on the circuit Down Under and potentially paving the way for a competitive assault on the series in the near future. Aussie racing fans can expect to see the trio on the track starting with the Clipsal 500 in Adelaide later this month. It won't be the first time we've seen Lexus provide a safety car in Australia, but it's a definite step up in profile from the GS 350 that has served for the past few years at the same Sydney Motorsport Park where this trio was launched. 06 February 2015 LEXUS ROARS INTO V8 SUPERCARS WITH RC F SAFETY CAR The Lexus high powered performance RC F coupe will feature as V8 Supercars' official Safety Car in 2015 as part of a new partnership between the Japanese luxury marque and V8 Supercars, Australia's premier motorsport series. A Lexus GS 350 F Sport and an IS 350 F Sport will also be on track as the championship's official course and medical cars as part of the new agreement. The RC F, which is equipped with a 5.0-litre V8 that produces 351kW of power and 530Nm of torque, will feature at each of the 15 V8 Supercars Championship events in 2015 alongside the GS 350 F Sport and IS 350 F Sport. Lexus Australia chief executive Sean Hanley said the partnership with V8 Supercars was a fitting match for the brand. "V8 Supercars is the world's leading touring car series and our involvement as supplier of vehicles reflects the new energy in our brand and our dynamic model lines," Mr Hanley said.