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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.

2021 Lexus NX 300h F Sport Black Line adds flair and luggage

At the beginning of the year, Lexus introduced a Black Line Special Edition trim on the NX 300 F Sport, produced in a run of just 1,000 examples. In April, the Japanese luxury maker showed the GS 350 Black Line Special Edition that came with a pair of Zero Halliburton cases as a last hurrah for the GS line, the sedan even more exclusive with just 250 units made. The 2021 NX 300h F Sport is next to pick up the baton, earning F Sport upgrades and snagging a set of that Halliburton luggage, too. Three colors are available: the brand-new deep blue of Grecian Water and the familiar Ultra White and Obsidian. Unlike the NX Black Line shown earlier, the hybrid paints its black wheel arch liners in body color and omits the faux carbon fiber side graphic, and the 19-inch chrome wheels replaced by 18-inch rims in "dark sputter" finish. Inside, blue stitching on the seats, door panels, armrest, center console. and floor mats accents the black interior. The F Sport treatment includes headlights, a larger mesh grille to replace the standard spindle grille with horizontal slats, a tuned suspension and sharper body kit. Lexus has made normally optional features like park assist and the foot-operated tailgate standard for the Black Line. Under the skin, the 2.5-liter four-cylinder assisted by an electric motor sends its 194 horsepower to all four wheels. The Lexus Black Line Zero Halliburton luggage duo starts with Halliburton's Edge Lightweight Collection. The 22-inch Continental Carry-on and 26-inch Medium Travel Case feature linings embroidered with Intersect by Lexus spindle grille art, interior compression panels with a Lexus embossed leather logo badge, and chrome badges laser-etched with "Zero Halliburton for Lexus" outside. Naturally, they come in black. Lexus will build 1,000 examples of the NX 300h Black Line Special Edition over the next 90 days, with availability as of now. Pricing starts at $47,835 after destination, $300 more than the standard top trim, the NX 300h Luxury AWD. Related Video:    

2021 Lexus IS makeover will reportedly include V8 model

Come next year, things may get interesting for the Lexus IS, a car that currently is not the first to jump to mind when one thinks of compact, rear-wheel-drive sports sedans. The IS is rumored to be getting a major makeover for 2021, the most notable element of which is said to be the arrival of a V8-powered version. Don't call it an IS F, however; the model instead will be known as the IS 500. None of the above is official — the source of the V8 rumor is an Instagram post from allcarsnews, as surfaced by thedrive.com. As has been previously reported, the IS is going in for a major makeover for 2021, one that this outlet characterizes as being less than a complete redesign. It will, however, bring revised sheetmetal mirroring the look of the Lexus LS as well as a new interior. While the current engine lineup is said to carry over, this report says it will be joined by the brand's naturally aspirated 5.0-liter V8. That engine powered the IS F, which was dropped after the 2014 model year, but in the 2021 car it, strangely, will be sold as the IS 500. That's the rumor, anyway. In the IS F, Toyota's 5.0-liter V8 made 416 horsepower and 371 lb-ft of torque. Currently, in the RC F coupe, it's putting out 472 horsepower and 395 lb-ft of torque. The IS 500 and its V8 would join an IS engine lineup that consists of a 2.0-liter turbo four with 241 horsepower and a 260-hp 3.5-liter V6 in the IS 300, plus a 311-hp 3.5-liter V6 in the IS 350. Today's sportiest variant is the IS 350 F-Sport Blackline Edition (pictured). If true, this could be a brief last hurrah for Toyota's 5.0L V8. Previous reports have claimed that by 2022, Toyota and Lexus plan to eliminate V8s from any vehicle costing less than $90k, and as part of that move, Toyota will drop its 5.7-liter truck engine as well. Related video: