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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.

2013 Lexus IS F

Sometimes fortune really smiles on even shiftless car-reviewing Dutchmen like myself, I must admit. I had come into Austin, TX the week before I was supposed to meet up with the good people at Lexus, who had graciously invited me to drive the 2014 IS. I flew in early because Austin is a pretty good place to eat, as well as being a place that my wife doesn't live. Let me say that a nicer way... while my stunningly attractive wife pretty much represents all things good and light in this world, she does occasionally shoot me a sideways glance when I dig in for my fifth Tacodeli breakfast taco. Thankfully, I leave most of my good sense and information about the effects of high-calorie diets on lifespan at home with Molly when I come to Texas, so I can better focus my laser-like attention on car reviews and TexMex. You guys are worth it.
Aside from all the tacos, I was also lucky to be visiting town the weekend before South By Southwest really kicked off in earnest, because it was that Sunday that my good old buddy John, and my new old buddy Pat, were headed up to the Circuit of the Americas to see the first ever SCCA Majors event there. It was lucky that I had planned to be out at CotA, which is east of Austin, because that made it very slightly easier for a very nice woman named Marcia to bring me a 2013 Lexus IS F from Houston, roughly 150 miles away.
Marcia brought me the IS F to replace another press car, which was having mechanical troubles; I didn't ask for the fire-breathing IS but when it was offered up I figured I couldn't do much better as a warm up for the 2014 IS program I was about to go on. See, lucky right?

Lexus GS F points its gaping grille at the BMW M5

A mere trio of weeks after the latest report in the slow-moving Lexus GS F rumor cycle, we have a brand new batch of spy photos of the BMW M5-fighting sedan. Looking more and more production ready - notice the more finished exhausts compared to our last round of photos - the GS F can be seen poking around what we imagine is Germany.
If the RC and RC F Coupes are any indication, it looks like Lexus will start fitting its high-performance models with a new, single-frame version of the spindle grille while a dual-frame grille will be reserved for lesser trims. Backing up that suspicion is the new single-frame grille found on this prototype, marking the first time the suspected F line styling piece has been seen on a GS F prototype.
The aforementioned staggered quad exhausts look good on the GS' rear end, while a none-too-subtle rear spoiler ups the rear's visual flair. The low-profile rubber and the multi-spoke, black wheels are nice touches that work well with the front fascia features, in addition to the new, camo'd grille and substantial brake cooling ducts.