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Toyota reports huge quarterly profit increase, raises forecast for the year

Toyota isn't just the world's largest automaker - so far its the biggest winner for quarterly profits. With an enormous $5.5 billion take during Q2, Toyota took advantage of the weak Japanese yen and strong US demand to record a 94-percent improvement in profit over the same period from last year. So far, Toyota brought in larger profits than Ford and General Motors combined.
Toyota is showing no signs of slowing down either, as it has bumped up its forecast for full-year global production, going from 9.94 million to 10.12 million vehicles, on the back of a 13-percent drop in the buying power of the Japanese yen versus the US dollar. That strong exchange rate is largely responsible for Toyota's big jump in profits, although it also managed to shift 1.3 million vehicles in the US market this year. Strong Camry sales have also helped. But while Toyota is raking in the cash, it actually saw a small drop in market share, down 0.1 percent to 14.3 percent of the US market.
As is the case with most automakers, Toyota seems flummoxed by Europe, where it recorded less than one percent of its revenue. Still, as Automotive News points out, Toyota only maintains a 4.5-percent market share in Europe and is far less dependent on the continent than other manufacturers. Toyota also struggled at home, much like Honda. With 525,777 units sold, JDM sales were down almost 51,000 units, although Toyota still saw its operating profit jump from $3.5 billion to $4.6 billion.

Cars most likely to be involved in accidents

Data from Insurify shows which models have the most accident-prone drivers behind the wheel. It also shows the proportion of the drivers of said vehicles with an at-fault accident on record in the past seven years, based on Insurify’s analysis of over 4 million car insurance applications. For reference, the national average is 10.78%, and each of these vehiclesÂ’ drivers represent a statistically significant increase over that. Now, it would be easy to infer that these cars are dangerous, but such is not necessarily the case. Remember, drivers cause accidents, not cars. These just happen to be the cars that accident-prone drivers drive. YouÂ’ll notice that many are mainstream, affordable cars, often with decent crash ratings. Also keep in mind that vehicle accidents are up since the beginning of the pandemic, so no matter what you drive, please drive safely. 10. Hyundai Ioniq This affordable, electrified vehicle platform sneaks into this list with 14.45% of drivers with a recent at-fault accident on record. 9. Lexus CT Another hybrid, this Prius-powered Lexus beats the national average at 14.57%. 8. Toyota Prius V Yet another hybrid, the larger but discontinued member of the Prius family sees 14.72% of its drivers with recent accidents. 7. Mazda CX-3 The Mazda CX-3, which is discontinued for the 2022 model year, sees the accident-prone making up 14.9% of its drivers. 6. Infiniti Q60 The second and final luxury car on this list has more accident-prone drivers than average, at 14.93%. 5. Subaru Impreza The first of two Subarus on this list has 15.1% of drivers with recent accidents on record. 4. Hyundai Genesis Coupe The Genesis Coupe was only on the market for a brief span before it was discontinued and Genesis spun off into its own luxury brand. That said, it too beats the national average for accidents, at 15.29%. 3. Subaru WRX Despite its standard all-wheel drive, the boy-racer WRX has 15.44% of drivers with a prior accident in the last seven years. 2. Kia Stinger We love the Kia Stinger, and had great luck with our long-termer that graced the Autoblog garage for a year. That said, 15.75% of its drivers represent have a recent accident on record. 1. Scion FR-S This fun two-seater attracts the most accident prone drivers, with 15.87% with recent at-fault crashes. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Recharge Wrap-up: 10-year sentence for biodiesel fraudsters, overhead fast charging EV buses in Luxembourg

Toyota will use addressable TV advertising to target potential Prius Prime customers. By choosing to advertise in households with specific attributes, Toyota hopes to grab the attention of buyers who "see their vehicle as an extension of their consumption of advanced technology," according to Toyota Motors Sales media manager Lisa McQueen. The ad depicts a person who is skeptical of various inventions throughout history until he finds himself inside the Prius Prime. Hyundai has also used addressable TV ads for its Genesis brand. Read more at Automotive News. Two Florida men have each been sentenced to over 10 years in prison for biodiesel credit fraud. Thomas Davanzo and Robert Fedyna of Gen-X Energy Group and its subsidiary Southern Resources and Commodities were convicted of buying fuel that had already been sold with Renewable Identification Numbers, then fraudulently claiming more credits on that fuel. The scheme raked in more than $46 million, mostly in selling the fraudulent credits. Critics of the Renewable Fuel Standard point to incidents like this as a reason to oppose the program. Read more from Reuters. Volvo electric buses in Luxembourg will use Heliox Fast Charge systems. Public transport operator Sales-Lentz has ordered three of the Heliox systems that will charge the buses using pantograph (overhead wire) contacts. The chargers will be placed at end-of-route stops for opportunistic charging of the transport agency's four Volvo 7900 electric buses. The 450-kW, Wi-Fi-enabled OppCharge system automatically connects the charger to contact plates on the roofs of the vehicles, charging them in three to six minutes. Read more at Green Car Congress. Related Gallery 2017 Toyota Prius Prime Advanced View 35 Photos News Source: Automotive News, Reuters, Green Car CongressImage Credit: Volvo Buses Government/Legal Green Marketing/Advertising Toyota Volvo Biodiesel Technology Electric recharge wrapup