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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 IS First Drive | A model remodel

The Lexus IS has now been with us for more than two decades. First introduced in 1999, it celebrated its 21st birthday this year and, to mark the occasion, Lexus hit the compact sedan with a significant overhaul, including a revamped powertrain lineup, an updated interior, and a much-needed tech update in an attempt to keep the sporty four-door relevant in a market that craves crossovers and SUVs. So, first things first: The 2021 Lexus IS is not actually new. In fact, Lexus still refers to it as a third-generation car internally, despite the “redesign” and repositioning for 2021, which is ultimately more about the products elsewhere in the Lexus lineup, rather than the IS itself. WeÂ’ll come back to that. Unveiled in June, the 2021 IS model range has been pared down to just two models, the IS 300 and IS 350 F-Sport. The highlight of the standard equipment sheet is an 8-inch touchscreen that's nearly 5.5 inches closer to the driver than the outgoing modelÂ’s. A 10.3-inch touchscreen is available as an upgrade, and perhaps most notably, the IS is finally available with Apple CarPlay and Android Auto integration suites. Despite the common name and number, however, the IS 300 is in fact offered with two very different engines depending on how many wheels are driven. Power for the rear-wheel-drive IS 300 comes from a 2.0-liter turbocharged inline-four, which develops 241 horsepower and 258 pound-feet of torque. It's bolted to an eight-speed automatic transmission. With the IS 300 AWD (pictured below), all-wheel drive is paired with a 3.5-liter naturally aspirated V6 good for 260 hp and 236 lb-ft of torque, and a six-speed automatic transmission. Nothing confusing about that, is there? 2021_Lexus_IS_300_AWD_Blue_004 View 9 Photos Thankfully, things are a bit more normal with the IS 350 F Sport. Its high-output V6 is alive and well, with its naturally aspirated displacement of 3.5 liters and an output of 311 horses and 280 pound-feet of twist. It's the same engine regardless of drivetrain, though rear-wheel drive is still tied to the eight-speed automatic while all-wheel drive gets the six-speed. The quickest variant is the RWD model, which will crack off a run to 60 mph in 5.6 seconds. The AWD variant is intended to be an all-weather option, not a performance enhancer. The observant reader will note that we keep referring to the IS 350 F Sport, rather than simply the IS 350.

The Lexus LC 500h has a four-speed auto and that's a good thing

Lexus is sharing some powertrain details on the LC 500h ahead of the big hybrid coupe's debut in Geneva. Its new gas-electric setup strays from Toyota's tried-and-true system found in everything from the Prius to the Lexus GS. It's called the Multi Stage Hybrid System that's designed for performance vehicles, and it has an antiquated-sounding piece of equipment buried deep inside that's supposed to make it more enjoyable to drive. The basics: In the LC 500h, its first application, the Multi Stage Hybrid System will consist of a 3.5-liter V6, a hybrid transmission, and a lithium-ion battery pack. The hybrid transmission has an electric motor for motivation (and we're guessing a second for charging) and a four-speed automatic mounted to its rear, which either means inside or aft and in series. Why add ancient tech to a new hybrid system? Lexus says it preserves the connection between throttle input and engine speed that gets lost in a CVT. And while four seems like an insignificant sum in the face of nine- and 10-speed autos, remember that it is an infinite increase in gear count compared to CVT-packing hybrids. Toyota has been using versions of the Hybrid Synergy Drive system since the first Prius debuted in 1997, and the same system is sold under the Lexus Hybrid Drive banner in most of the luxury brand's offerings. These systems use what Toyota calls an e-CVT – two electric motors paired with a planetary gearset. This lets the engine and electric motors share the job of propelling the car – one motor handles charging of the battery and the other is primarily used to drive the wheels but can also recoup energy through regen. Like a conventional CVT, the planetary gearset arrangement allows the gas engine to run at its optimal engine speed when called upon for motivation and/or charging. But that doesn't make for the most exciting or familiar driving experience, as it affects both power delivery and the sound of the power being delivered. This is where the four-speed auto comes in. Based on the limited details Lexus has shared, our hunch is that the hybrid transmission will meld some form of the existing Lexus Hybrid Drive system with two more planetary gearsets, or the basic guts of a four-speed auto. This will provide the four fixed ratios and the feeling of actual shifting gears – because there will be actual gears shifting.