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Toyota cuts production target by 300,000 vehicles due to parts and chips shortages

TOKYO - Toyota cut its annual production target by 300,000 vehicles on Friday as rising COVID-19 infections slowed output at parts factories in Vietnam and Malaysia, compounding a global shortage of auto chips. "It's a combination of the coronavirus and semiconductors, but at the moment it is the coronavirus that is having the overwhelming impact," Kazunari Kumakura, an executive at the world's biggest car maker, said after the company revised its production target. Unlike other big global automakers that were forced earlier to scale back production plans, Toyota had managed to avoid cuts to output because it had stockpiled key components along a supply chain hardened against disruption following northeast Japan's devastating earthquake in 2011. Toyota's announcement on Friday is a further sign that no part of the global car industry has escaped the affects of a pandemic that has sapped sales and is hobbling its ability to take advantage of the recovery in demand that followed the initial waves of COVID-19. Car sales in China in August fell by almost a fifth from a year earlier because there were fewer vehicles for people to buy. Toyota now expects to build 9 million vehicles in the year to March 31, rather than 9.3 million. It did not revise its 2.5 trillion yen ($22.7 billion) operating profit forecast for the business year. Adding to a 360,000-vehicle cut in worldwide production in September, Toyota said on Friday it will reduce output by a further 70,000 this month and by 330,000 in October. It hopes to make up some of that lost production before its year-end. Demand for chips has soared during the pandemic as consumer electronic companies rush to meet stay-at-home demand for their smartphones, tablets and other devices. A heavy reliance on Southeast Asian factories for parts is a headache for Toyota, but its also a problem for its rivals that have struggled with what Volkswagen has described as "very volatile and tight" chip supplies. The German carmaker has warned it may need to cut production further as a result. Ford last month shut down production at a plant in Kansas that builds its best-selling F-150 pick up because of parts supply woes, with Renault extending partial stoppages at factories in Spain. Mercedes this month said it expects chip shortages to significantly lower third quarter sales. (Reporting by Tim Kelly; Editing by Muralikumar Anantharaman and Kim Coghill) Plants/Manufacturing Lexus Toyota

Like sands through the hourglass, so is the 2014 Lexus GX

Well, that didn't take long. Just days after patent images leaked, Lexus has released pricing and images for its redesigned 2014 GX 460. Our first reaction is... wow, look at the front end on that! The updated luxury SUV features what Lexus calls "a new interpretation" of its now-trademark Spindle grille. The oversized hourglass shape is certainly unique, and whether for good or bad, it's sure to make the GX stand out.
The redesigned GX is set to hit dealerships in September and it starts at $49,085 - nearly $5,000 less than the 2013 model. Along with the new grille, it comes with standard LED headlights and daytime running lights. Inside, the GX boasts a new eight-inch touchscreen display with backup monitor, HD radio with complimentary weather and traffic data, Bluetooth and a vehicle information display. New espresso wood with black trim is also available for 2014.
Of course, the Luxury model, which starts at $60,715, adds even more frills, including navigation, a new Blind Spot Monitor with Rear Cross Traffic Alert, adaptive air suspension and Intuitive Parking Assist. Some of these features are also available on the base model with the addition of the new Premium Package, which Lexus touts "will be at the same price as the base 2013 model year GX 460."

The Lexus Sriracha IS is the hottest Lexus ever

For this year's Los Angeles auto show, Lexus created its hottest IS ever: the Sriracha IS. And the company did so by putting Sriracha sauce in everything! It's in the paint, the steering wheel, and even in the trunk! Check out the video if you don't believe us. Ok, so Lexus didn't really put Sriracha in everything. In reality, the company partnered with Huy Fong Foods to produce this one-off car, and turned to West Coast Customs to execute it. It features a custom paint job designed to emulate the look of Sriracha sauce, and green accents on the grille, mirrors, brake calipers, and exhaust tips are a call back to the food company's sauce bottles. View 13 Photos Inside, West Coast Customs created some clever and surprisingly subtle changes. The climate controls only show increasing heat levels, and the seat heater buttons are bright red with little flames above the seat icons. The drive selector trades sport mode for "Sriracha" mode. The seats get red and green inserts along with logos stitched into the seat backs. Other parts of the interior have green contrast stitching, too. The steering wheel is a particularly unique piece. West Coast Customs found a liquid that looks similar to sriracha, put it a resin container and shaped it to fit the steering wheel, so now it looks like there's sriracha in the steering wheel. It also has a warning sticker for "hot handling." And lest you think there isn't any real Sriracha anywhere in the car, you'll find 43 bottles of the stuff in the trunk, and the key fob dispenses some as well. As for how Lexus tops this, perhaps they could make a habanero or ghost pepper car. Or maybe they could show us a real IS F successor. We think another V8 Lexus would come across as pretty hot. Related Video: