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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.

2016 Lexus GS 200t First Drive

Last year, Lexus rolled out an ad for its GS that featured several luxury rivals swinging on pendulums, with a hypnotic voiceover that derides the BMW 5 Series' standard four-cylinder engine. The ad then asks viewers to, "Open your eyes to the six-cylinder, eight-speed Lexus GS." Oh, how times have changed. Consider the facelifted Lexus GS 200t and its four-cylinder turbocharged engine an admission that maybe the Germans are on to something. It's good to see Lexus getting with the times, but after a drive in Southern California, we find the first turbocharged GS comes up short in a lot of ways. This is the same engine Lexus uses in the NX, IS, and RC with 200t designations. The 2.0-liter four-cylinder uses a twin-scroll turbo, direct injection, and Toyota's most advanced continuously variable valve timing to produce 241 horsepower and 258 pound-feet of torque. That's 70 horsepower short of the GS 350's 3.5-liter V6. But torque is down only 22 fewer lb-ft, and the 200t's broad peak torque, from 1,650 to 4,400 rpm, promises ample usable power. The 200t offers little reward for the slower acceleration. As for that previously-mocked BMW 5 series, the Lexus has nearly identical output. But a 7.0-second 0-60 time is nearly a full second slower than the BMW's claim for the 528i, a car that weighs practically the same as the Lexus. Fuel economy is another head-scratcher. Lexus estimates the GS 200t F Sport returns just 20 miles per gallon in the city and 30 mpg on the highway, three and four mpg less than the 5er. This brand-new 2.0-liter turbo is hardly more efficient than the three-year-old GS 350. The V6 model nets 19 mpg city and 28 mpg on the highway, and is 1.3 seconds quicker to 60 mph. A smaller engine almost always means sacrificing performance for economy, but based on the figures the 200t offers little reward for the slower acceleration. At least the 200t is better from behind the wheel than on paper. We weren't that impressed by the low-end grunt of Lexus' 2.0-liter turbo when we drove it in the NX, but different gearing in the GS means snappier off-the-line behavior. Once the turbo catches up you're well into the heart of the torque curve, and the GS feels quicker than a seven-second jog to 60 mph. Mid-range punch is the engine's most endearing quality. Passing moves are easy and entertaining, even when you're already traveling at or above freeway speeds. Unfortunately, the engine gasps above 4,400 rpm.

Japanese earthquakes send ripples through auto industry

The earthquakes since April 14 in Japan's Kumamoto Prefecture on the island of Kyushu are having aftershocks on the US auto industry, particularly for Toyota. The company shut down most of its factories in the country due to parts shortages, and the plants will be closed at least through April 23. "Decisions regarding recommencement of operation at plants in Japan will be made on the basis of availability of parts," the company said in a statement. According to Automotive News, Toyota's closed factories include a vast range of popular models in the US, including the Toyota Prius, Mirai, RAV4, 4Runner, Land Cruiser, Lexus ES, LS, IS, GS, RC, NX, RX, GX, and LX. The company's only sites in Japan that are still open build Hino trucks, Daihatsu models, and the Toyota Century limo. Toyota isn't yet sure whether these shutdowns could lead to vehicle shortages in the US. "As you can imagine, we are still reviewing the situation and working to learn more," company spokesperson Aaron Fowles told Autoblog. "While we know that production will be suspended in stages at most of our vehicle assembly facilities in Japan between April 18th and the 23rd, we do not know if they will continue production suspensions. Also, any effects to our inventory and/or sales have yet to be determined." He expects the automaker to know more in the coming days. Many of the affected Toyota plants aren't even in Kumamoto Prefecture, but major suppliers have factories in the region. For example, Aisin Seiki and Renesas Electronics both had to shutdown operations at plants in the area, according to Automotive News. Toyota isn't the only automaker affected. Nissan experienced a brief slowdown but was back to work on Monday, and Honda has suspended a motorcycle plant in the region until Friday. Mitsubishi had to close a production line due to the parts shortage, according to The Japan Times, but it didn't affect US models. "A supplier to our Mizushima plant has been impacted but they only supply an engine part for our mini car line. That line has been temporarily shut down due to that situation," spokesperson Alex Fedorak told Autoblog. "That same plant builds the Lancer and i-MiEv and there has been no impact to that line and production continues uninterrupted." Two major quakes hit Kumamoto Prefecture around Kumamoto city in the past week. The first on April 14 measured 6.4 magnitude, and a second on April 16 measured 7.3.