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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.

Editors' Picks May 2022 | Nissan Z, Subaru WRX and Mazda's latest

This month of Editors' Picks sees us recognize a strong pair of Japanese cars designed for the driving enthusiast. Both having just been totally redesigned, we found their latest versions to be even more satisfying than the last. In addition to the Nissan Z and Subaru WRX getting the nod, Mazda gets similar recognition for its new crossover. The CX-5 is still highly recommended, but we prefer the CX-50 over it at this point. In case you missed our previous Editors' Picks posts, here’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get EditorsÂ’ Pick status. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in May that earned an EditorsÂ’ Pick. 2023 Nissan Z Quick take: Tons of power, excellent handling, a gorgeous design and a supremely affordable price make the Nissan Z a killer sports car proposition. Score: 8.0 What it competes with: Toyota GR Supra, Subaru BRZ, Mazda MX-5 Miata, Ford Mustang, Chevrolet Camaro Pros: Powerful twin-turbo V6, excellent handling, pretty design, agreeable pricing Cons: Cramped interior, automatic option is subpar, base trim is sparsely equipped From the editors Road Test Editor Zac Palmer — "I fell for the Z quickly. A new sports car with a dynamite engine, solid manual transmission, very good handling and stunning looks is an instant winner today. We're living in a golden age of Japanese sports cars/sport compacts, and the Z is one of the best options of them all. It should make everyone looking to buy a Toyota GR Supra take pause to consider the Nissan." Associate Editor Byron Hurd — "I was a believer in the Z even when others weren't, so I'm happy that Nissan left most of the formula well enough alone. The new engine makes the Z feel punchier and more alive without giving up all of the high-revving character that made the 3.7-liter V6 an outlier in a space now overrun with turbocharged four-cylinders. Just stick to the manual." In-depth analysis: 2023 Nissan Z First Drive Review: The Z is back again!   2022 Subaru WRX Quick take: The WRX gets big upgrades where it counts, making it better to drive than before. We're not fully sold on the styling, but it's tough to beat if AWD performance is king.

Toyota, Lexus dominate KBB's Best Resale Value Awards

Toyota and Lexus stormed the 2014 Kelley Blue Book Best Resale Value Awards, winning a combined 18 categories including best brand and best luxury brand. This marks the third year in a row that both automakers have won the Brand and Luxury Brand resale value awards. In all, Toyota won 11 categories and Lexus won seven.
Honda made a good showing, as well, winning two segments (Accord Plug-In Hybrid and Civic Si) and putting one car on the top-10 Best Resale Value list (CR-V). Chevrolet did even better, winning two segments (with the V6 Camaro and the Corvette) and placing three cars on the top-10-overall list (again, the Camaro and Corvette, plus the Silverado 1500).
The other winners came from Jeep, Dodge, Infiniti, Subaru and Audi. To give you a clearer picture of the Toyota and Lexus domination, their 18 mentions represents more than half of the 34 awards (including the top-10-overall list).