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Toyota reports huge quarterly profit increase, raises forecast for the year

Toyota isn't just the world's largest automaker - so far its the biggest winner for quarterly profits. With an enormous $5.5 billion take during Q2, Toyota took advantage of the weak Japanese yen and strong US demand to record a 94-percent improvement in profit over the same period from last year. So far, Toyota brought in larger profits than Ford and General Motors combined.
Toyota is showing no signs of slowing down either, as it has bumped up its forecast for full-year global production, going from 9.94 million to 10.12 million vehicles, on the back of a 13-percent drop in the buying power of the Japanese yen versus the US dollar. That strong exchange rate is largely responsible for Toyota's big jump in profits, although it also managed to shift 1.3 million vehicles in the US market this year. Strong Camry sales have also helped. But while Toyota is raking in the cash, it actually saw a small drop in market share, down 0.1 percent to 14.3 percent of the US market.
As is the case with most automakers, Toyota seems flummoxed by Europe, where it recorded less than one percent of its revenue. Still, as Automotive News points out, Toyota only maintains a 4.5-percent market share in Europe and is far less dependent on the continent than other manufacturers. Toyota also struggled at home, much like Honda. With 525,777 units sold, JDM sales were down almost 51,000 units, although Toyota still saw its operating profit jump from $3.5 billion to $4.6 billion.

Midsize Sedan Comparison | Honda Accord vs. Toyota Camry vs. Mazda6

The rumors of the midsize sedan's death have been greatly exaggerated. The 2018 Honda Accord and 2018 Toyota Camry together moved more than 262,000 units through May of this year, which is still a ton of cars. Then again, both are down year-over-year despite being completely, and quite impressively, redesigned for 2018. So yes, the midsize sedan's grip on family transportation is weakening. Ford certainly thinks so, yet this change in consumer preferences comes at a time when the current crop of sedans is sensational. They're bigger and more powerful, yet also more efficient. Safety scores are impeccable. They even look better than ever. So before running out to score one of the bajillion little SUVs flooding the market, why not ponder this trio of midsize sedan all-stars that might actually work better? Over the course of three consecutive weeks we tested the 2018 Camry XSE V6, 2018 Accord Touring 2.0T and the perennial critical-darling 2018 Mazda6 Signature. The latter was thoroughly overhauled and, perhaps as such, bucked the segment trend by actually selling more in June this year. Each was a range-topping trim level with all the bells and whistles, plus the most powerful engine available. Really, you couldn't find cars closer in power, price and feature content. View 57 Photos Performance and fuel economy Toyota bucked the turbocharged trend by sticking with naturally aspirated engines for the 2018 Camry, and when it comes to its 3.5-liter V6, it's sure hard to argue with that decision. For starters, it produces 301 horsepower. Let that sink in for a moment. A 301-hp Toyota Camry. That crushes the others, while its 267 pound-feet of torque is only 6 less than the Accord. This is a strong, smooth engine that only gets better when you realize it matches the 26-mpg combined fuel economy of the others. Honda, meanwhile, followed the masses by switching to a turbocharged four-cylinder for the Accord's engine upgrade (and its base engine, for that matter). Though its 252 hp is considerably down on the Camry and its 271 lb-ft is only a smidgen more, the Accord's torque arrives earlier in the rev range without feeling overtly turbocharged. It also has 143 fewer pounds to contend with. When wrung out, this new 2.0-liter belts out a beautiful, typically Honda song made possible by the smart 10-speed automatic (the base 1.5-liter is paired to a CVT that results in more drone than mechanical music) that thankfully doesn't draw much attention to itself.

Toyota won't face recall for Corolla unintended acceleration

Toyota will not face a recall or further investigation into an alleged unintended acceleration problem in the 2006-2010 Corolla. Following months of analysis, the National Highway Traffic Safety Administration was unable to find a mechanical defect to cause the issue. If there had been a safety campaign to fix the vehicles, it could have affected 1.69 million cars, according to NHTSA. The incident that prompted the investigation occurred in June 2014 when a driver was pulling into a parking spot. The 2010 Corolla allegedly lurched forward under braking and hit an unoccupied Jeep, according to The Detroit News. No one was injured. The owners had the vehicle examined by a Toyota dealer, and it found no problems. They then filed a petition with NHTSA to open a deeper investigation. NHTSA took the family's Corolla and tested it for over 2,000 miles, according to The News. The agency couldn't replicate the problem and found the brakes were capable of keeping the vehicle from moving at full throttle. In their petition, the owners also submitted 143 other unique complaints of this issue in the Corolla, but the Feds found that most of these incidents were due to driver error where the gas or both pedals were accidentally pressed. After taking all of this into account, "NHTSA has concluded that further investigation of the issues raised by the petition is not warranted," the agency wrote in its report. You can read the entire, 23-page explanation for yourself in PDF format, here. INVESTIGATION Subject : Low-speed surging Date Investigation Opened: SEP 19, 2014 Date Investigation Closed: APR 29, 2015 NHTSA Action Number: DP14003 Component(s): VEHICLE SPEED CONTROL All Products Associated with this Investigation Vehicle Make Model Model Year(s) TOYOTA COROLLA 2006-2010 Details Manufacturer: Toyota Motor Corporation SUMMARY: The Agency received a petition on September 11, 2014 requesting an investigation into, "low-speed surging in the 2006-2010 Toyota Corolla [vehicles] with ETCS-i, in which the brakes fail to stop the vehicle in time to prevent a crash." NHTSA conducted a technical review of the material cited and provided by the petitioner, material Toyota submitted in response to a NHTSA formal request, interviews with complainants and manufacturer representatives, as well as the results of testing of the complaint vehicle.