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Toyota working on cars that hover above the roadway

Toyota is one of the largest automakers in the world, but it's not content simply building and selling conventional cars - it's been at the forefront of numerous advancements in ground transportation. It is widely credited with advancing the cause of hybrid propulsion, and alongside Audi and Google, is among the first automakers seriously testing self-driving cars. We could go on, but the news here is that Toyota is reportedly developing vehicles that hover above the road surface instead of rolling along it.
The news comes from Hiroyoshi Yoshiki, one of Toyota's tech gurus, who revealed at Bloomberg's Next Big Thing summer in San Francisco that the company is working on hovering cars - ones that travel just above the road surface, but don't actually fly in three-dimension space.
According to The Verge, a spin-off of our own sister-site Engadget, Yoshiki refused to elaborate on what the project entails and how far along it is. He was speaking along acting NHTSA chief David Friedman, who lauded such advancements as a "great taste of innovations to come," but stressed the significance of more concrete improvements to conventional automobiles - like inter-car communications to keep vehicles from colliding on the highway - as more relevant to today's industry.

Toyota fears supplier pressure in Australia with GM pull out

With Ford and General Motors both announcing an end to production in Australia, the country's auto industry is in a bad way. With the exit of two big players, there's increased concern that a third Australian manufacturer, Toyota, will be forced out, as well.
"We are saddened to learn of GM Holden's decision. This will place unprecedented pressure on the local supplier network and our ability to build cars in Australia," Toyota Australia said in a statement. The GM closure of Holden production will be the direct end to 2,900 jobs, but will also force a dramatic reduction in the size of the country's supplier network, as there will simply be fewer cars to build.
In the same statement, Toyota Australia said it would work with suppliers and local government to figure out whether continuing production Down Under was even feasible. According to Automotive News, a representative for the Australian Manufacturing Workers' Union told reporters it was "highly likely" that Toyota would also close up shop within the next few years.

Toyota reports huge quarterly profit increase, raises forecast for the year

Toyota isn't just the world's largest automaker - so far its the biggest winner for quarterly profits. With an enormous $5.5 billion take during Q2, Toyota took advantage of the weak Japanese yen and strong US demand to record a 94-percent improvement in profit over the same period from last year. So far, Toyota brought in larger profits than Ford and General Motors combined.
Toyota is showing no signs of slowing down either, as it has bumped up its forecast for full-year global production, going from 9.94 million to 10.12 million vehicles, on the back of a 13-percent drop in the buying power of the Japanese yen versus the US dollar. That strong exchange rate is largely responsible for Toyota's big jump in profits, although it also managed to shift 1.3 million vehicles in the US market this year. Strong Camry sales have also helped. But while Toyota is raking in the cash, it actually saw a small drop in market share, down 0.1 percent to 14.3 percent of the US market.
As is the case with most automakers, Toyota seems flummoxed by Europe, where it recorded less than one percent of its revenue. Still, as Automotive News points out, Toyota only maintains a 4.5-percent market share in Europe and is far less dependent on the continent than other manufacturers. Toyota also struggled at home, much like Honda. With 525,777 units sold, JDM sales were down almost 51,000 units, although Toyota still saw its operating profit jump from $3.5 billion to $4.6 billion.