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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.

Audi outlasts rivals to win 13th Le Mans title

As is so often the case, the 2014 Le Mans was a war of attrition, and Audi managed to prevail once again after all 24 hours had been recorded in the history books, with its Audi R18 E-Tron Quattro claiming first and second places, followed by Toyota in third. Drivers Marcel Fassler, Andre Lotterer and Benoit Treluyer inherited the lead in their No. 2 Audi after the No. 7 Toyota, driven by pole-sitter Kazuki Nakajima, was forced to retire with electrical problems in the 15th hour.
The No. 2 Audi led the race until it was forced to the pits to replace a turbocharger in the 17th hour, allowing the No. 1 Audi, driven by Lucas di Grassi, Marc Gene (who was a last-minute replacement for Loic Duval, who crashed hard during practice) and defending champion Tom Kristensen, led the race until the 21st hour, when it too had to pit with turbocharger issues. This gave the No. 20 Porsche of Timo Bernhard, Brendon Hartley, and Mark Webber the lead until it was forced off the track with gearbox problems, eventually finishing in 38th position.
In LMP2, the Jota Sport Zytek Z11SN-Nissan driven by Simon Dolan, Harry Tincknell and Oliver Turvey claimed victory, the first five LMP2 finishers all powered by Nissan. Down a level in GTE-Pro, No. 51 AF Corse Ferrari 458 Italia GT2 driven by Gianmaria Bruni, Toni Vilander and Giancarlo Fisichella finished one lap ahead of the leading Corvette Racing C7.R. And finally, the No. 95 Aston Martin Racing Vantage GTE driven by Kristian Poulsen, David HeinemeierHansson and Nicki Thiim won the GTE-Am race two laps ahead of a Proton Porsche 911 GT3 RSR.

Honda Civic overtakes Toyota Corolla as America's best-selling compact

The battle to claim October's best-selling compact sedan title has been won by the Honda Civic. The Japanese four-door sold 27,328 units, leaving the Toyota Corolla - September's title holder - in its wake with 23,637 units sold. In terms of year-to-date sales, the Civic sits at 280,899 units, with the Corolla trailing at 257,184 vehicles.
Sitting in third place, separated by a significant gap from the leaders, is the Chevrolet Cruze with 16,087 units sold. The Ford Focus earned fourth, with 15,108 units moved out of showrooms. (It is interesting to note that while the Civic and Corolla have both enjoyed double-digit sales increases year-over-year, the Cruze and Focus have seen significant decreases during the same period.)
Sales of the Hyundai Elantra hit 14,876 units, putting it in fifth place, with the Volkswagen Jetta earning sixth place with 11,710 units. Rounding out the ten top sellers were the Nissan Sentra (8,399 units), Mazda3 (7,647 units), Dodge Dart (5,617 units) and Subaru Impreza/WRX (4,923 units). The Kia Forte (4,706 units) and Volkswagen Golf (2,249 units), eleventh and twelfth respectively, have fallen behind.