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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.

Lexus RX Luggage Test (2016-2022): How much cargo space?

This post has been updated from its original version to reflect new information provided by Lexus engineers. There's something seemingly funky going on with the Lexus RX spec sheet, or at least with the cargo capacity measuring method used to populate it with an official cubic-foot number. Basically, the specs say it has 16.0 cubic feet behind its raised back seat. That would be less than a Toyota C-HR, which is a notably cramped subcompact SUV. All you need are eyes to know something's fishy about that. Doing these luggage tests has revealed other car companies also report cargo capacity figures that sell their SUVs short relative competitors, but this is a new low, so to speak.  After a few back-and-forths with Lexus (and several months), plus a revealing glance at the extended length RX L's spec sheet, I came upon the answer: the 16.0 cubic-feet indicated is a measurement of the cargo floor to the cargo cover. The industry norm is cargo floor to the roof. Both numbers are provided for the RX L: 15.26 cubic-feet to the cargo cover and 23.03 to the roof. That's still not a lot for a midsize SUV, but assuming the regular RX is in the same numerical ballpark, it would make a lot more sense given how much stuff you can actually fit inside.  Speaking of which, let's see just how much stuff you can fit inside. It's definitely more than a C-HR. This is a wide, deep space. However, the current RX has a more radically raked roofline than its predecessors, which almost achieves a crossover coupe look. The result is less overall cargo space (and likely a less-than-stellar floor-to-ceiling cargo spec), but losing greenhouse usually effects versatility more. Basically, you can carry a comparable number of bags, but that 52-inch TV will be a tough get.  To begin, I left the cargo cover in place. As in every luggage test I do, I use two midsize roller suitcases that would need to be checked in at the airport (26 inches long, 16 wide, 11 deep), two roll-aboard suitcases that just barely fit in the overhead (24L x 15W x 10D), and one smaller roll-aboard that fits easily (23L x 15W x 10D). I also include my wife's fancy overnight bag just to spruce things up a bit (21L x 12W x 12D). Fitting only the four biggest bags isn't great, but it's also the result of keeping the cargo cover in place (I do this to replicate a situation where you can't just leave it behind in your garage). It also pretty much confirms that 16.0-cubic-foot number.

Lexus LFA owner gets town to remove speed bump

What do you do if you have enough money to buy a Lexus LFA but can't get the car safely to your house? Get local government involved, of course. Rune Berge Vik, of Stavanger, Norway, did just that after he bought a Lexus LFA (the only LFA in the Nordic region according to tv2.no) last year only to find out that it could not clear a speed bump in his neighborhood.
To remedy the situation, Vik got in touch with his city, which had the speed bump removed. Talk about your tax dollars hard at work. On the other hand, it's commendable that the man actually uses his supercar as a daily driver, and besides, doesn't a street-legal car have the right to access said public streets?