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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 LF-LC Concept goes blue, remains happy

Until the day when we can see a production version of the Lexus LF-LC Concept, we'll just make do with seeing the sleek two-door in different colors for now. After first showing us the car in a Candy Apple Red color at the Detroit Auto Show, Lexus has brought its LF-LC Blue (in a deep ocean blue) from Down Under to LA.
Aside from the new color, there's nothing new for us to see here. That means we were still ogling over its flowing body lines, impressed by its 500-horsepower hybrid drive system and looking forward to possibly seeing the car go into production.

Lexus teases 2022 LX 600 flagship SUV

Like so many things at the moment, the Lexus LX debut got pushed back, but it's nearly upon us. Toyota's luxury brand began the teaser campaign for the 2022 Lexus LX 600 today, in preparation for an online debut October 13 at 12:30 p.m. Eastern at the same time the vehicle is unveiled live in the United Arab Emirates and Saudi Arabia. We can glean a few things from the teaser, the first being the same Lexus design language we recently saw on the 2022 NX transferred to what will be the automaker's flagship SUV. That means an LED light bar connecting two hockey-stick taillamps above a spelled-out "LEXUS" instead of the Lexus logo. The chrome accents of the LX 570 are history, the rear license plate placed in an unadorned trapezoidal recess. The rear bumper is now nearly flush with the tailgate and loses its stanchions at the edges.    And then there's that LX 600 badge, officially signaling that numbers aren't about engine displacement. Depending on market, the LX is expected to get the twin-turbocharged 3.5-liter V6 that launched with the 300-Series Toyota Land Cruiser in June and puts out 409 horsepower and 479 pound-feet of torque in that model. Japanese outlet Creative Trend says this mill will eventually get hybrid assistance to create an LX 750h trim with 480 hp and 642 lb-ft. of total system output. The 3.3-liter diesel V6 with 305 hp and 516 lb-ft. could end up in places like Japan and Australia, and it's possible a base version with the naturally aspirated V6 finds its way to market.  Toyota said putting the new Land Cruiser on its TNGA-F platform saved about 440 pounds. We won't be surprised if the Lexus loses some weight as well, but we also expect a lot of new tech in the LX 600, and luxury is heavy. Features like the Multi-Terrain Select system and Multi-Terrain Monitor seem like shoo-ins, as does the 360-degree camera system. An option for fingerprint authentication to start the vehicle might bow as well. We'll know next week when the 2022 LX livestream kicks off. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.