1989 Toyota Pick Up Extra Cab 148,226 Miles Four Cyclinder on 2040-cars

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Toyota profits up 23% on high US sales, despite mounting legal costs

Toyota earned $9.3 billion in net income in the financial year that ends next month. The number beats earlier forecasts and marks a five-year high for the automaker, with both operating income and revenue up by 9.5 percent and 2.5 percent, respectively. Toyota saw quarterly profit enjoy a year-on-year jump of 23.4 percent, with the manufacturer earning more than $1 billion between October and December 2012. The good news comes in spite of the fact that the Japanese automaker actually endured an operating loss in North America, due in part to legal fees.
Toyota is set to pay more than $1 billion to owners who claim their vehicles decreased in value as a result of the company's recent spate of recalls. Even so, all three of the automaker's brands enjoyed a 13.5 percent sales increase in the US in the last quarter, beating the industry average. Toyota faltered in Europe, however, where it earned $99 million in operating profit last year, compared to $111 million in 2011. You can take a closer look at the company's full press release below for more information.

Autocar pits McLaren MP4-12C against turbo Toyota GT86

The Toyota GT86, in all of its forms, is one of the best-handling cars money can buy, a trait that can put a smile on the faces of all but the most jaded car enthusiasts. But if good handling isn't what they're looking for, then what is? Our first guess would have to be more power, something the 200-horsepower Toyota would benefit from. Autocar tries out that theory by driving two turbocharged GT86s on track, then pitting the more powerful one against the 616-hp McLaren MP4-12C in a track battle.
The first GT86 turbo Autocar's Steve Sutcliffe drives makes around 255 rear-wheel horsepower and a bucket-load more torque than the stock car. That's plenty of power to either have a lot of fun or get into a lot of trouble. But the GT86 that Sutcliffe tails in the McLaren is race-prepped, stripped to the bone and wears slicks to harness a heavy-hitting 335 hp at the wheel. Weighing in at under 2,500 pounds, the Toyota can't overcome the MP4-12C's power-to-weight ratio of 5.3 pounds per horsepower, but it comes pretty close.
Enjoy a lot of chasing and drifting fun in the video below!

GM might lose 90-year U.S. sales crown over chip shortage

Automotive News editor Nick Bunkley tweeted on October 1 that according to AutoNews data, General Motors "has been the largest seller of vehicles in the U.S. every year since passing Ford in 1931." With automakers having turned in light car and truck sales data for the first three quarters of 2021, GM's 90-year-run might not reach 91. According to AN figures, Toyota was 80,401 vehicles ahead when the October workday started. Worse, GM is so far behind its historic pace that it might only sell enough light vehicles in the U.S. to match its numbers from 1958.  Meanwhile, the New York Times put a few more salient numbers to the pain GM and Toyota are enduring alongside the the rest of the industry. GM sold 33% fewer cars in Q3 2021 than it did in Q3 2019 during the dark days of the pandemic, 446,997 units this year as opposed to 665,192 last year. GM's Q3 2020 was only down 13% on Q3 2019. Over at Toyota, the bottom line showed a 1% gain in Q3 2021 compared to 2020, with 566,005 units moved off dealer lots. The finer numbers show two steps forward and one step back, though; Toyota's September sales were down 22% compared to last year.  GM remains optimistic about what's ahead, GM's president of North American operations telling the NYT, "We look forward to a more stable operating environment through the fall." We'd like to see that happen, but we don't know how it happens. The chip shortage said to have been the inciting incident for the current woes isn't over, and not only can no one agree when it will be over, the automakers, chip producers, and U.S. government still can't get on the same page about who needs what and when. Looking away from that for a second shows articles about "No End In Sight" for supply chain disruptions in early September, before China had to start working through power supply constraints, global supply chain workers started warning of a "system collapse," and roughly 500,000 containers sat waiting to be unloaded at Southern California ports — a record number seemingly broken every week. And back to chips, we're told just a few days ago the chip shortage is "worse than we thought."   For now, the NYT wrote that GM dealer inventory is down 40% from June to roughly 129,000 vehicles, and down 84% from the days when dealers would cumulatively keep about 800,000 light vehicles in stock. However, GM just announced it would have almost all of its U.S. facilities back online next week, although some would run at partial capacity.