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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.

Toyota U2 urban utility concept inspired by Maker Faire [w/video]

There's a quiet revolution happening in US cities. People want to mix an urban lifestyle with a connection to nature and appreciation for craftsmanship. The result of all of this is folks pursuing things as varied as urban farming, home brewing and the whole maker movement. Toyota thinks it has the perfect concept for these intrepid customers with its new Urban Utility concept that it is debuting during a panel discussion hosted by Make: magazine in San Francisco and debuting publicly on September 20 at the World Maker Faire in New York City.
The Urban Utility concept can best be described as a modern take on the old panel van. Designers from Toyota's Calty Design Research center in California interviewed Maker Faire participants to find out what its users want from a novel vehicle like this. "Toyota saw an opportunity for a new approach to an urban vehicle based on increasing re-urbanization of our cities and urban drivers' desire for flexibility, fun and maneuverability," said Kevin Hunter president of Calty.
On the outside, the Urban Utility doesn't really scream for attention. It's meant to meet users "desire for greater utility but a smaller vehicle footprint," according to the release, but the shape is still very much a van. The designers do try to lend it some panache with the LED headlights up front and checker board side panels. It's really more about utility than looks, though, because the roof can roll back for taller loads, the rear glass retracts into the tailgate, and the whole rear can fold down as a ramp to load stuff more easily into the cabin. Toyota isn't talking about a powertrain yet but claims that the underbody is also especially durable for a long life in the big city.

Next-gen Toyota 86, Subaru BRZ could arrive by 2021

If these rumors are true, a small but dedicated core of fans could be in for a treat. According to Japan Times — and citing unspecified "sources" — Toyota and Subaru are developing a next-generation 86 and BRZ, with a possible launch around 2021. The new car(s) would reportedly have more power, improved handling and newer safety features. According to the report, the rear-drive sports coupes could do away with the current 2.0-liter engine in favor of one with a larger 2.4-liter displacement. The Japan Times sources say the next-gen 86 will also have a lower center of gravity, which will translate to an improvement on the car's already impressive cornering stability. Theoretically, the 2.4-liter in question could be the new FA24 mill used in the upcoming Subaru Ascent crossover that's turbocharged to produce 260 horsepower and 277 pound-feet. That output would be a mammoth jump from the current Toyobaru pair, and it seems doubtful that's what possible second-generation cars would get. Nevertheless, it's at least consistent with recent comments from Toyota engineer Tetsuya Tada that indicated a more powerful, turbocharged 86/BRZ would not be possible unless there was a new, next-generation model. In an interview with Australia's CarAdvice, Tada said, "I do like turbos, however if we come up with a turbo version of the 86 and boost up the power that would result in the necessity of changing the basic configuration completely, to come up with a car that I would be satisfied with." "One characteristic of the 86 is that in terms of the front balance it's slightly front loaded so it makes the handling more fast and agile," he continued. "So if we were to come up with a turbo version, we would have to go change the weight balance between the front and the rear. That means we have to come up with a completely new platform, so it's not about just changing or slight modification in the engine parts." Note that "we have to come up with a completely new platform" does not equal "we are coming up with a completely new platform." He could be talking strictly hypothetically, it could be a wink-wink nudge-nudge implication that his team is already hard at work, or things could've just been a bit fudged in translation. In any event, as hopeful as we are about the possibility of a new generation of Subaru BRZ and Toyota 86, we can't help but maintain a healthy dose of skepticism that the partnership will continue as the Japan Times report suggests.