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Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Ford barely edges surging Chrysler for Canadian sales crown in best year ever

The auto industry in the US showed strong results through much of 2014 with sales regularly growing year-over-year for many brands. That same trend carried over in the Great White North, as well. Canada posted its best numbers ever with 1.85 million units sold, up about 100,000 vehicles over 2013. The country nearly had a new market leader, too. The big winner among our neighbors to the north in 2014 was Ford with 291,951 vehicles sold, up 3 percent from 2013, according to Reuters. That success also handed the company the sales crown for the fifth consecutive year. In large part, the strong result came from the company's popular trucks, which represented about 80 percent of overall sales. "Ford moved into the number one position in September and didn't look back," said a note to clients by DesRosiers Automotive Consultants quoted by Reuters. However, the Blue Oval didn't exactly take an overwhelming lead for the year. The company nearly had to hand over the sales trophy to FCA after the company rallied in the latter part of the year. The Italian-American conglomerate had its best results ever to nip at the Ford's heels and move 290,004 units for 2014, a 12-percent improvement from last year. Jeep especially helped the bottom line with over 50-percent growth, according to Reuters. Only two other brands were able to break the 200,000-vehicle barrier in Canada for 2014. General Motors came in third place overall with 249,800 sales, up 6.3 percent. The combined Toyota and Lexus also barely jumped the hurdle with 200,851 units moved, a 2.8 percent improvement.

Lexus to debut small hybrid CUV at 2014 Geneva Motor Show

Following rumors that Lexus has been working on a small crossover to slot below the RX (pictured), Automotive News Europe reports that the production-ready CUV will bow at the 2014 Geneva Motor Show next March. Later this year, Lexus will preview this new crossover by way of a concept car at the Tokyo Motor Show in November.
According to the report, this new crossover will be a hybrid, and will ride on the smaller architecture that underpins the Toyota RAV4. Specific details have not been confirmed, but AN states that the entry-level CUV will be powered by the same 2.5-liter gasoline-electric drivetrain found in the Lexus ES 300h. Since Toyota will evidently be taking the time to hybridize the platform, we can't help but assume that it will eventually build a second-gen RAV4 EV.
Either way, with the small luxury CUV segment heating up, Lexus is likely smart to offer a player in this space. Until now, there has not been a Lexus crossover below the RX, and this new model will compete with other new players in the class including the BMW X1 and Audi Q3.