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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.

Autoblog Minute: UAW and FCA avoid strike, Clarkson teases new show

FCA avoids a worker strike, a former Top Gear host teases us with a picture from Amazon's new car show, and Toyota predicts autonomous cars by 2020. Autoblog senior editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Show full video transcript text [00:00:00] FCA avoids a worker strike, a former Top Gear host teases us with a picture from Amazon's new car show, and Toyota predicts autonomous cars by 2020. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. A UAW strike of FCA was avoided thanks to a zero-hour tentative agreement reached this week. Worker concerns that were renegotiated in the new [00:00:30] deal include adjustments to the two-tier wage scale, health care costs, and production outsourcing. Now check-in with Autoblog as we update our reports on this evolving story. Shooting began on Amazon Prime's new automotive show starring the former Top Gear crew. That's Jeremy Clarkson, Richard Hammond, and James May. Now Clarkson threw out a tweet from day one of filming on location at Algarve Motor Park in Portugal. The picture features the show's [00:01:00] three stars and crew posing with the holy trinity of hyper cars. That's a McLaren P1, a Ferrari LaFerrari, and a Porsche 918 Spyder. This Prime show is being called Gear Knobs though the name is unofficial. Now if a tweet is any indication of what we can expect, who cares what it's called this is gonna be awesome. (Eds Note: Clarkson tweeted Friday that the show will not be called Gear Knobs.) Toyota predicts drivers could be obsolete on highways as early as 2020, with technology dubbed the Toyota Highway Teammate or THT. Toyota is using a modified [00:01:30] Lexus GS to show what this is capable of. THT is already able to create a driverless freeway car that's capable of changing lanes, making passes and taking curves. Plus, it can keep safe distances from other vehicles. Toyota is currently testing this on Tokyo's Shuto Expressway. Those are the highlights from the week that was. Be sure to check out my full recap this Saturday. And I'll have some added insight on the BMW M4 GTS. For Autoblog, I'm Greg Migliore. [00:02:00] Show Logo Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.

Lexus customizes 10 cars as characters from 'Eternals'

Lexus has vanda — uh, customized — ten cars to go along with "Eternals," the latest movie in the Marvel cinematic universe. Each vehicle has been chosen to represent one of ten heroes from the story, wrapped in colorful designs that Lexus says reflect their costumes and powers. We suppose that if you're an immortal being that needs to be embodied in automotive form, a Lexus isn't a bad choice given their reputation for long-term reliability. But, if you've been living among Earthlings for 7,000 years and are trying to lay low, maybe a brightly colored car with gold underglow isn't the most effective stealth mode. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Some of the cars are quite appropriate. Thena, incarnated as a white and gold Lexus LC500, seems like a perfect embodiment of Angelina Jolie's character's power and elegance. Similarly, the red RC F Track Edition representing Makkari, played by Lauren Ridloff, is a good fit for what is described as the fastest Eternal. And the hulking Land Cruiser-based Lexus LX570 makes a good Gilgamesh, played by Don Lee, the biggest and strongest of the bunch. However, we then get into questionable territory when Phastos is also represented by a second LX570 because, per Lexus, "The LX is technologically advanced, making it an ideal fit for Phastos, played by Brian Tyree Henry, the technological guru of the team." Uh, okay. That claim would make more sense if the SUV was a 2022 Lexus LX600, but images show the Phastos car based on a current-gen LX, which is 14 years old. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. We don't know enough about the rest of the "Eternals" characters to know if the cars are fitting, but for the sake of completion, here we go. Salma Hayek's Ajak and Barry Keoghan's Druig are represented by Lexus GX460s, Richard Madden's Ikaris is a Lexus LS sedan, Gemma Chan's Sersi is a non-Track Edition RCF, Lia McHugh's Sprite is a Lexus NX, and Kumail Nanjiani's Kingo is an IS350. Again, that last one is an odd choice since Nanjiani drove an IS500 in a recent ad (that also features a pretty cool looking right-hand-drive Mitsubishi Pajero). "Eternals" opens on November 5, 2021. The Lexus cars will be used at promotional events and at the red carpet premiere. It is the second time Lexus has been the official car of a Marvel movie, following 2018's Black Panther.