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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.

Toyota twin-turbo V8 patent unearthed

An unremarkable patent focusing on a minor engine part has revealed that Toyota is at least considering a twin-turbo V8. While the filing is most likely just a large company protecting its intellectual property, it could also be a small glimmer of hope that Toyota, a storied company that's made some glaring missteps with enthusiasts in recent years, can leave the ICE party with a bang for the ages. The patent for a secondary PCV separator, whose function is to isolate exhaust gas from lubricating oil, was discovered by a member of the GR86 forum. In this case, it's not engine oil that's the culprit, but turbocharger oil. From a twin-turbo V8. The patent starts out with an almost embarrassingly hilarious stick figure drawing of a car and where said engine would be located (in the front, under the hood, duh). It has the words "Internal Combustion Engine" printed on a rectangle in case there was any doubt. However, the second figure shows a dual turbo setup nestled in the valley of a V8. It's a prime location for reducing turbo lag and optimizing throttle response (and should necessitate a substantial hood bulge as well). Now, interestingly, the forum member believes this engine will be installed in the next Tundra (and presumably Sequoia), but our own research indicates that the pickup will have a 3.5-liter twin-turbo V6 under the hood. With all due respect to the GR86 members, we're going to stand by that assertion and cross our fingers that the patent hints at something even better. That would be a high-performance Lexus, possibly an IS F or, if the ICE gods will allow it, an LC F. After all, we have had reports from Japan that a trio of F-cars were coming, including a LS F. It would explain why the 472-horsepower, V8-powered IS 500 was called the Sport Performance instead of full-on IS F. In fact, Lexus reps have promised that the F label would become even more performance oriented. A proper IS F would be a fitting sendoff to Toyota's high-performance V8, but the tested, then reportedly canceled, then reportedly revived LC F would be an even more melodious swan song. The flagship grand tourer could very well allow loyalists to forgive the aforementioned gaffes. Toyota president and noted car guy Akio Toyoda has taken heat for questioning the coming outright ban of ICE sales in his home country of Japan. Perhaps this engine is one of the reasons he's objecting.

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.