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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.

2018 Lexus RX 350L Quick Spin Review | Minding the gap in the Lexus lineup

PORTLAND, Ore. — Why on Earth does Lexus still make the Jurassic GX 460? It's old, inefficient, body-on-frame and completely atypical of the rest of the three-row luxury segment. Well, the answer lies in that segment descriptor: three rows. People want them, yet Lexus didn't offer anything else between the two-row RX and the $85,000, Land Cruiser-based LX 570. Despite this lineup gap lasting for two decades, Lexus decided to finally attempt filling it with a seemingly quick-and-dirty solution: Lengthen the RX 350, shoehorn in a third row, add an L to the name, wipe hands together, call it a day. The resulting 2018 Lexus RX 350L does indeed have a third row of seats and is generally a far superior vehicle to the GX. It's better to drive, massively more efficient, and its beautiful interior is up to the current Lexus norm. The cargo door doesn't swing into the curb. Plus, unlike some other slapped-together lengthened jobs over the years like the Chevrolet TrailBlazer EXT or even the long-wheelbase Range Rover, the RX 350L doesn't suffer visually for its extra inches. In fact, it can be difficult to tell the L apart from a non-L unless the two are parked together in profile. If everything, the extra 4.4 inches of length might actually improve the RX's proportions from certain angles. Of course, quite a few people find the current RX to be hideous, so finding comments below that include the words "lipstick" and "pig" would not be surprising. Adding the L also doesn't seem to take away from the RX's driving experience, which continues to impress. The current model is buttoned down and involving in a way its couch-like predecessors never attempted to be. From the lowered driving position to the more responsive steering, this is a far more driver-oriented vehicle. You don't even need to engage Sport mode, but doing so dials in an appropriate level of steering weight and sharpens throttle/transmission response. This general sportification also hasn't taken anything away from comfort, as a three-hour road trip from Portland to Seattle proved it to be a superb highway cruiser. Both seat and ride comfort are excellent. That was with two people aboard, however. Later in the week, we managed to easily fit an extra pair in the second row along with a rear-facing baby seat. That's all well and good, but the regular RX can do that.

Lexus' Detroit reveal is RC F, will have 460-hp V8

Yesterday, we brought you the image above, sent out by Lexus, teasing its Detroit Auto Show reveal. At the time, all we knew about the car was that it's a coupe, and falls into the automaker's F performance line. But now, some more details have leaked.
An anonymous tipster passed us a link to this website, which Lexus is using to invite folks to an event at the Detroit show where the new RC F coupe will be revealed. But that same tipster also sent us a scan of the mailed-out invitation, shown at right (click the image to enlarge), which clearly states that the RC F will be powered by a 460-horsepower V8. The invite also says Lexus will show its 2015 RC 350 coupe in Detroit, following its debut at the Tokyo Motor Show in November.
We cannot totally verify the authenticity of the scanned invitation, but with a corresponding website live on the web, it all looks pretty legit to us. Stay tuned for more details closer to the RC F's debut in January.