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Toyota sees profit slip but beat earlier forecasts

TOKYO — ToyotaÂ’s July-September profit fell 11% from a year earlier as the coronavirus pandemic slammed global demand, but JapanÂ’s top automaker appeared to be holding up better than weaker rivals that have sunk into the red. Toyota reported Friday a quarterly profit of 470.5 billion yen ($4.5 billion), down from 530 billion yen a year ago. Quarterly sales slipped to 6.77 trillion yen ($65 billion) from 7.64 trillion yen. Its president, Akio Toyoda, told reporters Toyota employees worked extremely hard, including making masks and face shields and boosting efficiency at factories to achieve results despite the pandemic. “Toyota has become gradually stronger,” he said, offering gratitude and praise for how resilient Toyota has proven itself to be. “This shows how each individual worked so hard,” said Toyoda, the grandson of the automakerÂ’s founder, vowing that each of its employees will keep thinking about contributing to a better world. Toyota raised its global sales forecast to 9.4 million vehicles for the fiscal year through March 2021, better than its earlier forecast for 9.1 million vehicles. ThatÂ’s still lagging behind the more than 10.5 million vehicles sold in the last fiscal year. Toyota, based in Toyota city in Aichi, central Japan, said it expects to record a 1.4 trillion yen ($13.5 billion) profit for the fiscal year. It earlier projected 730 billion yen ($7 billion) in profit. Toyota, which makes Lexus luxury models and the Prius hybrid, recorded 2 trillion yen ($19 billion) in profit the previous fiscal year. ToyotaÂ’s operating income fell in most regions, including Japan and other Asian markets, but improved in North America. Operating Officer Kenta Kon expressed caution about the U.S. outlook, given the rising coronavirus cases. But he said ToyotaÂ’s latest models were popular, and dealers were adjusting incentives to get good results. All the worldÂ’s automakers have been slammed by shrinking demand as COVID-19 squelches economic activity. Some nations, including Japan, have sunk into recession. Although uncertainties persist about further outbreaks and when a vaccine might be available, there are signs of recovery in some parts of the world. Japan has managed to keep pandemic-related deaths at fewer than 2,000. It has reported about 105,000 cases nationwide.

Car thief caught in McDonald's drive-thru after placing order with owner

If you're going to drive a stolen car in a town of roughly 77,000 people - about the same size as Scranton, Pennsylvania or Ogden, Utah - you want to be very careful about where you drive that stolen car to eat. That's the lesson Katherine York of Kennewick, Washington learned when she was arrested for being in possession of a stolen Toyota 4Runner that also happened to have a bunch of stolen clothes from JC Penney and Sears in it.
Virginia Maiden woke up Tuesday, May 14 to find her 1995 4Runner - that she thought she forgot to lock - swiped from her apartment building. At 3 PM that afternoon, while working her shift at the drive-thru at McDonald's that day, she saw her truck in line. York hadn't even gone far - the McDonald's is not even five miles from Maiden's apartment. Maiden called the police, they showed up just as York was leaving, and York made another vehicle switch, this time into a black-and-white for a trip to the Benton County jail. They don't have McDonald's there, but she won't have so far to go to eat.

Everybody's doing flying cars, so why aren't we soaring over traffic already?

"Where's my flying car?" has been the meme for impending technology that never materializes since before there were memes. And the trough of disillusionment for vehicles that can take to sky continues to nosedive, despite a nonstop fascination with flying cars and a recent rash of announcements about the technology, particularly from traditional automakers. Earlier this month, Toyota applied for an eye-popping patent for a flying car that has wheels with spring-loaded pop-out helicopter rotors. The patent filing says the wheels/rotors would be electrically powered, while in on-land mode the vehicle would have differential steering like tracked vehicles such as tanks and bulldozers. At an airshow in July, Aston Martin unveiled its Volante Vision Concept, an autonomous hybrid-electric vertical takeoff and landing (VTOL) vehicle it developed with Rolls-Royce. Aston says the Volante can fly at top speeds of around 200 mph and bills it as a luxury car for the skies. Audi used the Geneva Motor Show in March to unveil a flying car concept called the Pop.Up Next it developed with Airbus and Italdesign. If the Pop.Up Next, an electric and autonomous quadcopter/city car combo, gets stuck in traffic, an app can be used to summon an Airbus-developed drone to pick up the passenger compartment pod, leaving the chassis behind. Audi said that the Pop.Up Next is a "flexible on-demand concept that could open up mobility in the third dimension to people in cities." But Audi also acknowledged that at this point it has no plans to develop it. The cash-stoked, skies-the-limit Silicon Valley tech crowd is also bullish on flying cars. The startup Kitty Hawk that's backed by Google co-founder Larry Page announced in June that it's taking pre-orders for its single-seat electric Flyer that's powered by 10 propellers and is capable of vertical takeoffs and landings. The current version can only fly up to 20 mph and 10 feet in the air and has a flight time of just 12 to 20 minutes on a full charge. The Flyer is considered a recreational vehicle, so doesn't require a pilot's license. Uber says it plans to launch its more ambitious Elevate program and UberAIR service in 2023. "Uber customers will be able to push a button and get a flight on-demand with uberAIR in Dallas, Los Angeles and a third international market," Uber Elevate promises on its website.