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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.

Russian videographer nails this real-life 'Need for Speed' recreation

Aaron Paul and Kid Cudi tried. They really did. They put forth a decent acting effort, played with some incredible replica supercars, and filmed at some remarkable settings. But it's 2019, and 2014's "Need for Speed" sits at a 6.5/10 on IMDB, a 39 on Metacritic, and a 57% audience score on Rotten Tomatoes. The studio attempt to bring "Need for Speed" to life was lukewarm, so a Russian videographer took a shot at the idea with this impressive digital short. Unearthed by Reddit user, AbuDab1, the clip is the work of Russia-based videographer @Chekunov_v. Clearly a fan of all things fast and fancy, as seen by his Instagram, Chekunov recreated the start screen, the garage with car and mod selection, and the race sequences from the video game. The video starts with an Acura RSX Type-S (labeled as the Integra Type R) with familiar theme music playing in the background. Accompanied by video game sound effects, the spotlight switches between a Toyota Celica, a Toyota Supra and a Mitsubishi Lancer Evo. The Supra and Evo are locked, so the user settles on the Celica. He goes on to select mods, including a new spoiler, new wheels and a new color, again to the tune of the proper sound effects, menus and camera views. The car exits the garage and rolls onto the road, where the screen now shows a tachometer and an N2O gauge. The Celica is met with a race challenge, and the car lines up with a Mazda RX-8, an Acura RSX Type-S and a Subaru WRX STI. After a terrible launch, the Celica uses some NOS and takes the victory. Unfortunately, the video is a bit 2 fast, 2 short for our taste. It's well done, has some unique video work, and takes us back into one of our favorite video game series. Maybe this guy can direct the studio sequel.

Toyota begins shipping Le Yaris to America

Our tiniest Toyota (Scion iQ notwithstanding) is about to get a little French flair. The Japanese automaker announced Thursday that its Toyota Motor Manufacturing France facility would begin building Yaris models destined for North America - specifically, the United States, Puerto Rico and Canada. This will mark the first time in history that Toyota has exported vehicles to North America from Europe.
Initially, Toyota will export roughly 25,000 Yaris models to North American markets from France each year. In order to handle this additional production, Toyota Motor Manufacturing France has invested 10 million euro into its French facility.
Despite being somewhat of a snooze-fest (it's a car!), the Yaris carries on in North America with a 106-horsepower 1.5-liter four-cylinder engine, with prices starting at $14,370 for the three-door and $15,395 for the five-door, not including $795 for destination.