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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 found not at fault in alleged unintended acceleration crash

Toyota has already paid out millions and billions of dollars in settlements surrounding unintended acceleration, but the first lawsuit in the matter, which headed to a California court in July, has reached a verdict. Following the 2009 death of Noriko Uno, whose 2006 Camry was hit by another car and then sped out of control before crashing into a tree, the jury found that Toyota was not at fault in the crash.
Even though the 2006 Camry (shown above) wasn't involved in any of the unintended acceleration-related recalls and it was not equipped with a brake override, Automotive News reports that the jury's verdict says there was no defect in the car and actually blames the entire incident on the driver that ran into Uno's car - to the tune of $10 million. The accident started when the other driver ran a stop sign and hit Uno's car, and the report says that medical conditions (including diabetes) caused Uno to fail to stop her Camry.
The AN article also states that this lawsuit was a bellwether case for around 85 other personal-injury and wrongful-death suits against Toyota, but there are still many impending suits across the country. Scroll down for an official statement on this particular case from Toyota.

2014 Toyota Tundra appears with revised styling, same mechanicals

Toyota has pulled the curtain back on its 2014 Tundra, showing a truck that has gotten its most significant refresh since its launch as a 2007 model. For better or worse, however, the changes that Toyota has made to the fullsize pickup are mostly cosmetic, with the underpinnings of the vehicle staying unchanged.
The most obvious revision for 2014 is to the bluff front fascia of the truck. There's a new, taller squared-off grille decorating the Tundra's nose, along with a revised, three-part front bumper design. The optional black grille-frame strikes us as an acquired taste, to say the least, but other models, like the Limited above, is all clad in chrome. Fenders and wheel wells are more square than in the out-going truck, too. Perhaps most significant is the revised bed design, which Toyota calls "all-new," with new sheet metal on the sides, a revised tailgate and a very subtle integrated spoiler.
Inside, Toyota has given buyers some new seats and a new-look instrument panel. A backup camera (always handy on big trucks) is now standard equipment on all grades, as is Bluetooth connectivity. Blind spot monitoring is a new, optional feature as well. In all, as with the exterior mods, the changes in-cabin are far more evolutionary than revolutionary.