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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.

Editors' Picks November 2023: Toyota Grand Highlander, Buick Envista and some lovely luxury vehicles

It's been a month since we served you with the full lot of Autoblog Editors' Picks, and that master list is going to continue to grow as more new cars enter the market. For November 2023, we have a trio of SUVs coming in at various sizes and price points including the Buick Envista, Toyota Grand Highlander and Mercedes-Benz GLS. And if you're looking for a convertible sports car, the BMW Z4 is one that should make your shortlist, as it finds its way into this month's of Editors' Picks, as well. In case you missed previous Editors' Picks posts, here’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get an EditorsÂ’ Pick designation. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in November that earned an EditorsÂ’ Pick. 2024 Toyota Grand Highlander 2024 Toyota Grand Highlander Limited Hybrid Max View 25 Photos Quick take: The Hybrid Max is the one to get, but the Grand Highlander comes highly recommended for its added space, nicer interior and fuel efficient powertrains. Score: 7 What it competes with: Kia Telluride, Jeep Grand Cherokee L, Chevy Traverse, Honda Pilot, Subaru Ascent, Ford Explorer, Toyota Highlander, Mazda CX-9, Kia Sorento, Buick Enclave, Nissan Pathfinder, VW Atlas, Mazda CX-90 Pros: Two hybrid powertrain options; exceptional cargo space; usable third row; refined and quiet ride. Cons: Expensive for the segment; the lesser hybrid powertrain is noisy and slow. From the editors: Senior Editor, Electric, John Beltz Snyder — "The Grand Highlander is a nice alternative to the standard Highlander for the Toyota faithful for its usable third row. The choice of powertrains is a huge boon, too, whether you want a fuel-sipping hybrid, or solid gas engine or a more robust hybrid with extra performance. YouÂ’re just going to have to pay a little more for it all." In-depth analysis: 2024 Toyota Grand Highlander Review: A strong, new three-row contender   2024 Buick Envista 2024 Buick Envista Sport Touring front three quarter View 19 Photos Quick take: The Envista is one of our top subcompact SUV picks. It packs tremendous value into a compelling design that looks far more expensive than it is. A homerun for Buick.

Toyota FV2 Concept is a single-seat mood ring for the road

Of all the vehicles Toyota brought to the Tokyo Motor Show, the FV2 might be the most creative. The minimalist single-seat concept is a glimpse at Toyota's idea of a "fun to drive" vehicle in the future.
The FV2 is essentially a pod with a diamond-shaped wheel array (what powers said wheels has not been disclosed), and Toyota says that the technology of the vehicle allows it to gauge the driver's mood and suggest possible destinations. The interaction between driver and vehicle is also displayed in an augmented reality screen on the windshield, and the car can also act as a mood ring of sorts with exterior colors and patterns that can change based on the driver's mood. We can just see it now: "Don't mess with Jim today, his car is red."
Scroll down for a brief press release on the FV2.