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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 GXOR is a conceptual offering to the overlanding crowd

To the surprise of just about everyone, large numbers of overlanders have adopted the Lexus GX. The reasons for that are apparent after looking under the surface: Toyota reskinned the Land Cruiser Prado — a slightly smaller version of the venerable Land Cruiser, sold in overseas markets — to create the GX. The result is an intensely capable off-road platform decked out with a bouquet of luxury trimmings. In tribute to the GX's following, and as a way to celebrate the Toyota FJ Summit happening in Ouray, Colorado, right now, Lexus commissioned the GXOR concept. The initialism comes from the overlanding community, the "OR" standing for "offroad" on web sites and in photos and as a Twitter hashtag. This truck's so well equipped for trekking continents, however, that Lexus might have expanded the full meaning of GXOR to "Gone eXtremely Off Road."  The first move to up the rugged quotient is always wheels and tires. Lexus swapped the stock suspension for Icon Vehicle Dynamics shocks with remote reservoirs and a 2.5-inch lift, reinforcing the setup with billet control arms and delta joints. The wheels are 18-inch F-Sport units wrapped in 275/70 (33-inch) General Grabber X3s. When the inevitable hits come, CBI frame sliders and full underbody armor protect the chassis. When situations go all the way south, a Warn 9.5 XPS winch hides behind a custom CBI front bumper, Maxtrax recovery boards stand by on the Eezi-Awn K9 roof rack, and an Icom HAM radio is ready to call for recovery from locals or advice from an operator in Argentina. Other conveniences include a Safari snorkel, 50-inch Rigid light bar, and an Overland Solar 160-watt panel. The cargo area's been turned into a larder and closet thanks to the National Luna fridge/freezer combo sitting atop the Goose Gear custom drawers. Since it appears the GXOR driver might never wish to return, there's more storage in Alu-boxes up top, and a Patriot Campers X1H trailer provides close gear support. The Patriot's a home on wheels, starting at about $52,000 U.S., packed with features like a remote-controlled, electronically-deployed tent, a twin-burner stove, gas hot water system and 40-gallon tank, and more drawers. But because even that's not enough, Lexus fitted the trailer with matching F-Sport wheels and a Redarc Tow-Pro brake controller. If you're near Ouray, the GXOR will be on display and on the trails from now until Sunday, July 21.

Lexus bringing next-gen IS to Detroit

With ES, GS and LS models all now minty fresh at your local Lexus showroom, it was only a matter of time before we had official word that the company's IS had a replacement in the wings. That word has come down today in an ultra brief press release that names the date and venue that the sheet will be pulled on the new car: January 15th in Detroit at the North American International Auto Show.
Don't pay too much attention to the test mule in these dusty spy shots, we're told that the small Lexus has been "completely redesigned" from the inside out and that it has drawn inspiration from the sultry LF-CC concept car. In LA we learned that the LF-CC has been green-lit for production, so we'd expect to see a lot of cues from that car (in the gallery below) lifted directly for the all-new IS. New fang-face, here we come.
While a coupe and a convertible version of the next IS are undoubtedly in the cards, too, we'd guess that the sedan will be first to go on stage at Detroit next month.