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Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

2016 Lexus IS 200t Quick Spin

When Lexus revamped its IS sedan for the 2014 model year, the car polarized in terms of design, and offered bipolar driving experiences, trim to trim. The entry-level IS 250 used a 2.5-liter V6 that felt like a lightweight for the segment. The stronger 3.5-liter six, especially when tied down to a car with the F-Sport package and subsequent handling improvements, was more of a sporting thing. Thankfully, Lexus has replaced the base powerplant for the IS with an up-to-snuff turbo 2.0-liter four. I drove the newly christened IS 200t for a week – with that enhancing F-Sport pack – and found it to be a vast improvement. Modest-budgeted buyers with eyes for Lexus' edgy styling seem to be in good hands. Driving Notes If the "200t" part of the model name looks familiar, you've probably seen it affixed to the rear end of Lexus' new NX small crossover. Of course the IS is lighter than its crossover sibling. Meaning the directly injected turbo engine's outputs of 241 horsepower and 258 pound-feet of torque are more thrilling in this application. At more than 3,500 pounds, the IS 200t still isn't exactly rapid – Lexus rates the 0-60 time at 6.9 seconds – but the torque pop is enough to jet around town authoritatively. Being a newly minted engine and a Toyota-brand product, you'd expect the IS 200t to be class-leading (or right there) in terms of fuel economy, too. With ratings of 22 and 32 miles per gallon, city and highway, it isn't. Both the BMW 328i (22 City / 34 Highway) and the Mercedes-Benz C300 (25 City / 34 Highway) do better, and while making similar power. The eight-speed automatic transmission is quite well suited for the brand and the car, I'd say. It mostly stayed out of my way, while in D, shifting unobtrusively during normal driving. The paddle-shift option is great for the occasional flights of motive fancy, but it's not lightning-quick, nor super engaging. Handling is nippy with the F-Sport package, at least within the normal boundaries of public roads. The car stays neutral and flat under cornering loads, and the front end feels rather light and quick to turn in. Of course, take the same corners more aggressively, and you'll feel the car default to understeering, with power cut on exit until all four wheels are fully set and gripping. Don't expect to slide the IS around, in other words. The chunky steering wheel feels good in the hand, and doesn't have the unsettling lightness I remember from the last-generation IS 250.

Krafcik says US Gov. shutdown is slowing Oct. auto sales

The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai's US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September.
The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year's models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year's Labor Day sales being recorded for August.
To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they're called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. "We have already had requests from over a thousand people to have their payments deferred," Krafcik says.