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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.

Lexus NX Luggage Test: How much cargo space?

According to the specs, the new Lexus NX has 22.7 cubic-feet of cargo space behind its raised back seat. That is considerably less than the mechanically related Toyota RAV4 (37.5 cubic-feet) and Toyota Venza (28.8 cubic-feet). It's also less than several of its compact luxury SUV competitors. However, the shape of its cargo area, a clever cargo cover and the added versatility of under-floor storage make it one of the best cargo areas in the segment in terms of usability.  It's also important to note that there are four versions available, all with their own powertrain: the NX 250 (shown here) has a naturally aspirated four-cylinder shared with the RAV4; the NX 350h with the same hybrid powertrain as the Venza and RAV4 Hybrid; the unique turbocharged NX 350; and the NX 450h plug-in hybrid that's very similar to the RAV4 Prime. Despite these different powertrains, and the need to store the hybrids' batteries somewhere, I am told by Lexus that their cargo areas are equal. That includes the sizable under-floor storage area you'll see shortly.  Here's the cargo area. As you can see, it has a large cargo cover that's fairly distinctive. Rather than a long, large cartridge with a cover that rolls out, or a solid rigid panel, this one features a mesh fabric supported by a metal frame that folds in half. This design would make it easier to store than either of the other designs (be it inside or outside the vehicle), but Lexus goes a step further on this front. The under-floor storage area was thoughtfully designed specifically to accommodate this cargo cover. This is a rare feature in a compact SUV. It means you shouldn't have to worry about getting stuck with the cargo cover when you need every square-centimeter of space available.  There's also plenty of storage space without that cover. In fact, the main bin is big enough to swallow the Luggage Test fancy bag. Also storing the cargo cover would've been iffy, but this is nevertheless impressive. The Acura RDX is the only other compact luxury SUV to offer such a space and it makes a difference.  Now, onto the other bags. As in every luggage test I do, I use two midsize roller suitcases that would need to be checked in at the airport (26 inches long, 16 wide, 11 deep), two roll-aboard suitcases that just barely fit in the overhead (24L x 15W x 10D), and one smaller roll-aboard that fits easily (23L x 15W x 10D). I also include my wife's fancy overnight bag just to spruce things up a bit (21L x 12W x 12D).

2022 Lexus LC 500 Inspiration Series gets red accents, unique wheels

Every year spawns a new Lexus LC 500 Inspiration Series model, and 2022 is no exception. You’re looking at the latest LC 500 Inspiration Series here, and this one features a subtle (model exclusive) Iridium exterior paint option. The yellow, green and blue special edition model options in years past were certainly more enticing than this one, but donÂ’t think this Inspiration Series is entirely dull. If you opt for the Convertible instead of the coupe, Lexus pairs a Dark Rose fabric soft top with the Iridium paint that looks lovely. This LC also features unique 21-inch wheels that were “3D machined,” a Lexus first. They are two-tone in appearance, featuring both bright and dark elements. Those darkened elements pair well with many of the accents all around the car. For example, Lexus uses a special dark finish for the grille, rocker garnish, headlight/taillight surrounds, and rear spoiler. The interior is a black/red two-tone with the red being the same Dark Rose color used on the ConvertibleÂ’s soft top. YouÂ’ll see Dark Rose used on the seat stitching, perforations, seatbelts, center console, doors and dash. Additionally, each Inspiration Series model will come with stainless steel sill plates that call it out as the special model it is.  Only 150 Inspiration Series models will be produced for 2022, and a badge on the center console will recognize the specific unit that it is. The LC 500 Inspiration Series Coupe starts at $105,575, including the $1,075 destination charge, and it comes equipped as a fairly loaded Touring package model. Meanwhile, the Convertible starts at $116,655. TheyÂ’ll be arriving at dealerships in late spring. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.