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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.

2024 Lexus GX and Land Rover Defender numbers crunched

The 2024 Lexus GX finally brings the luxury off-roader up-to-date. And it does so in a boxy, rugged wrapper that makes comparisons to the 2024 Land Rover Defender, another luxury off-roader of similar size and capability. So we figured, let's make that comparison. We've looked at all the specifications available for the two SUVs to see how they stack up. Engines and Transmissions The GX keeps things simple under the hood with a single powertrain. It has a twin-turbocharged 3.4-liter V6 hybrid making 340 horsepower and 479 pound-feet of torque. That horsepower number only tops the Defender's four-cylinder engine, but the GX has the torque advantage even against the Defender's mighty V8 option. The GX's V6 is paired with a 10-speed automatic and full-time four-wheel drive. Full fuel economy numbers haven't been given, but Toyota is expecting 17 mpg combined. Unfortunately, that fuel economy is worse than all the Defender powertrains except the V8. As alluded to, the Defender is available with three main engines, an inline-four, inline-six and V8. The closest competitors to the GX will be the regular 110 four-door and the longer 130 four-door. The 110 can be had with the turbo 2.0L four-cylinder making 296 horsepower and 295 pound-feet of torque; the turbo mild-hybrid 3.0L six-cylinder making 395 horsepower and 405 pound-feet; or the supercharged 5.0L V8 making 518 horsepower and 461 pound-feet. The 130 gets two versions of the six-cylinder, one making 296 horsepower and 347 pound-feet and one making 395 horsepower and 405 pound-feet. The V8 is also available but just with 493 horsepower and 461 pound-feet of torque. All of the engines get an eight-speed automatic and full-time four-wheel drive. The four-cylinder 110 gets 18 mpg combined, the six gets 20 and the V8 manages just 16. Both 130 six-cylinder powertrains return 19 mpg combined, and the V8 doesn't have numbers yet. Towing and Cargo Towing capacity is pretty straightforward. The Lexus has a maximum capacity of 8,000 pounds, and the Land Rover tops it by 200 pounds more. Some trim levels of both SUVs have lower towing capacity, depending on the configuration. As for cargo space, Lexus hasn't shared details. It is available with up to three rows of seating and room for seven passengers. The 110 has similar seating available, and the 130 ups the ante with a three-across third row. And we've found that the 130's third row is genuinely usable by adults.

Lexus LF-1 Limitless luxury crossover concept is an intergalactic flagship

A dressed-up Land Cruiser it is not. As most every manufacturer making cars in 2020 will be offering crossovers in varying sizes, Lexus has unveiled its new LF-1 Limitless concept, which has been penned at Toyota's Calty Design Research in Southern California. The vehicle is billed as a "flagship crossover," meaning it slots above the RX and offers more flair than the more truck-like GX and LX models. If the design of the concept seems sharp, it's at least in part due to the design approach Lexus calls "molten katana" — with the appearance of a Japanese sword in automotive form. The spindle grille that's been the centerpiece of recent Lexus front ends is now a three-dimensional design, which appears to mimic a "Star Wars" ship's shift into hyperspace, eschewing surrounding chrome in favor of LED lighting. The concept detailing includes slightly Tesla–like door handles, which reveal a Lexus logo in the negative space, and a roof spoiler split in the middle. Door mirrors have been shaved off, with the rear view delivered into screens around the instrument cluster, where they resemble motorcycle mirrors. The feel of hyperspace continues inside, with the perforated door trim allowing lighting through like a starry sky. There are four matching, individual white leather seats under the moonroof, and there's a dedicated light show on offer at the press of the start button, depending of the function mode selected. Most analog switches have been replaced by haptic controls grouped around the driver, or fitted in the steering wheel; all powertrain controls are either in the wheel or in the steering column. By "Limitless," Lexus appears to refer to the choice of propulsion. Reading between the lines, there doesn't seem to be a set powerplant for the vehicle, as by 2025 all Lexus model lines will be electrified in some fashion, and the production version could be a fuel-cell vehicle, a PHEV, all-electric, or gasoline-powered. There's also a hands-free driver assist level Lexus calls "Chauffeur mode." In addition, there's a fourth dimension to the concept's navigation system — time. The setup reads traffic information, anticipating possible stops on the way. The idea, according to Lexus, is that the navigation system should feel like a concierge, a virtual assistant instead of just a map screen.