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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.

Toyota bringing sextet of retro-liveried GT86s to Goodwood [w/poll]

Automakers and the teams that race their products switch liveries all the time. From time to time you might see them revive a classic color scheme from their history, like Lotus has with the JPS black and gold, or Nissan did most recently with one of the GT-R LM Nismo prototypes it's bringing to Le Mans this year. But Toyota is going a step further. At the upcoming Goodwood Festival of Speed later this month, the Japanese automaker isn't just showcasing one new car with a throwback livery – it's bringing six. They're all based on the GT86 (which we know as the Scion FR-S), and each pays tribute to an iconic racing car from Toyota's history. The yellow and green one pays tribute to the Yatabe Speed Trial 2000GT from 1966. There's another decked out in white and blue in tribute to the 2000GT that Carroll Shelby showcased in the US back in '68. The red one with the black hood pays homage to Ove Andersson's rally-spec '72 Celica. Another one in red with yellow stripes harks back to the IMSA-spec Celica from the mid-80s. There's the Castrol livery from the Group A rally-spec Celica GT-Four, and finally a tigerskin-effect livery derived from the Esso Ultron scheme from Japan's own touring car championship. In addition to the special vinyl wraps and decals, each of the sports cars features throwback wheels, a stainless steel exhaust and a lowered suspension. But of course it's the livery that makes them special, and you'll want to check them all out in the extensive high-resolution image gallery above and cast your vote in the poll below. GT86 PAYS TRIBUTE TO ITS HERITAGE WITH CLASSIC TOYOTA LIVERIES Visual celebration of decades of sporting design and engineering excellence at the Goodwood Festival of Speed - Fleet of six GT86 coupes finished in one-off classic liveries celebrating great Toyota race and rally cars of the past - Classic look captured in vinyl wraps and decals plus lowered springs, stainless steel exhaust and retro-styled wheels - Cars available for public drives in the Goodwood Festival of Speed's Moving Motor Show on 25 June, then on static display supporting the GT86 Drift Experience at Goodwood's race circuit Many of the qualities that make the GT86 an exceptional modern sports car are rooted in generations of classic performance Toyotas, from its great handling to its timeless, low-slung styling.

Toyota Mirai officially first hydrogen-powered pace car

In addition to the chance to see bumper-to-bumper racing in a unique atmosphere, the roar of V8 engines is one of the things that compel people to attend NASCAR events, rather than watching them from the couch on TV. The front end of the Toyota Owners 400 at Richmond International Raceway was a whole lot quieter, though, because the 2016 Toyota Mirai made its debut as a pace car there. Outfitted with a light bar and a special livery, the Mirai became the first hydrogen fuel cell vehicle to ever pace a NASCAR race and led the cars to the green flag for Saturday night's Sprint Cup round. The sedan was tested prior to the event to prove it had the performance required to lead the 43-car field. "Bringing the Mirai to Richmond to pace this important race is another way for Toyota to showcase our innovation and environmental leadership," Ed Laukes, company vice president of marketing, performance, and guest experience, said. There's some precedent for Toyota to show off its green credentials to the NASCAR audience. In 2009, a Camry Hybrid paced the Coca-Cola 600. The automaker's fuel cell tech already had a maiden motorsport outing, too. Late last year, the FCV Concept, which previewed the Mirai, was the zero car to check the roads for the Shinshiro Rally in Japan. TOYOTA MIRAI TAKES TO THE TRACK 23/04/15 Mirai Will Pace Toyota Owners 400 at Richmond Mirai Is First Hydrogen Fuel Cell Electric Vehicle to Pace a NASCAR Race RICHMOND, VA. (April 23, 2015) – Toyota today announced the 2016 Toyota Mirai, a hydrogen fuel cell electric vehicle, will pace the Toyota Owners 400 NASCAR Sprint Cup Series race at Richmond International Raceway on Saturday night, April 25. Today's approval allows the Mirai to serve as the first hydrogen-fueled vehicle to pace a NASCAR race. It will lead the Sprint Cup Series field to the green flag at Richmond on Saturday night and emit only water out of its tailpipe along the way. "Having a hydrogen fuel cell vehicle pace the Toyota Owners 400 is a historic moment for both Toyota and NASCAR and we're proud it's the Toyota Mirai," said Ed Laukes, vice president of marketing, performance and guest experience, Toyota Motor Sales, U.S.A.