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Mini Minor to be co-developed with Toyota

It was back in 2011 when Mini first showcased the prospect of an even smaller hatchback with the Rocketman concept at the Geneva Motor Show. In the nearly four years since, parent company BMW has hemmed and hawed on the possibility of putting it into production, but the latest word from Europe has it that the project is a go. According to Automobile magazine, Mini is realigning its product portfolio into five pillars: the essential hardtop we've already seen (available in two/three- and four/five-doors), the convertible, the upcoming new Clubman wagon (coming this summer with full-size auxiliary suicide doors on both sides), the next-gen Countryman crossover in 2016 and two new model lines. One will be the production version of the Superleggera roadster concept, earmarked for 2018. The other will be the Minor, a smaller city car reviving a long-gone model name and presaged by the aforementioned Rocketman concept. But for that last one, Mini won't go it alone. To develop the mini Mini, BMW will reportedly turn to its partnership with Toyota. The relationship is already set to yield a new Supra and Z4 and share fuel cell and other technologies. But this would broaden the partnership to include a small hatchback. However rather than use the existing (or next-gen) Aygo, which is already built under joint venture with PSA Peugeot Citroen (with which BMW previously had a joint engine venture), word has it that the BMW and Toyota will develop a new platform for the project – one that will be used by both partners. The new product plan doesn't leave much room for the Mini Coupe and Roadster (which have already been discontinued), for the Paceman three-door crossover (which will suffer the same fate) or for the projected seven-seater minivan. But the addition of the new Superleggera roadster and super-mini Mini aren't likely to leave us wanting for either. Related Video:

A new Toyota MR2? We want to believe

In the wake of a busy Geneva auto show, the rumor mill is churning, and the latest grist involves one of the most beloved Toyota sports cars of all time. EVO reports that Tetsuya Tada, the chief of the Scion FR-S/Toyota 86 project and a hard-liner about sportscar priorities (light and nimble, but with modest horsepower), wants a third vehicle for Toyota's nascent sporty lineup. Currently, we know there's a Supra-like vehicle in the works, being co-developed with BMW, and the 86 is sticking around. Tada said he'd like a third sportscar to compliment the two we know about, and that he wants it soon. A quick bit of history: Toyota's classic sporty lineup had three components. The most visible was the Supra, whose power and prestige grew as the car evolved from a cushy personal tourer to a high-horsepower, high-technology icon. The Celica was its Clark Kent, more mild mannered but also more accessible and affordable. The third was the MR2, a mid-engined go-kart that lasted for three distinct generations. Each had its charms, and all have their fans. When Tada says that he wants three sportscars in the lineup, we already know about the Supra successor, and the 86 is already filling the Celica's role, so the blank is easy to fill. It doesn't sound like Tada spoke the word "MR2" to EVO, or hinted that the car would be mid-engined, but Tada doesn't seem to say anything without purpose. Whatever the layout, this third car – if it comes to fruition – will probably play a role similar to the MR2 in relation to its stablemates. To translate: it'll likely be even lighter and more nimble, and probably less powerful, than the 86. The closest real-world analogue to the pure MR2 ideal is the Honda S660, a mid-engined Kei roadster that's on sale in Japan right now. It's light, small, and powered by a 0.66-liter inline-three. Toyota could decide to directly compete with the S660, borrow an engine from its small-car specialist subsidiary Daihatsu, and produce a mid-engined MR2. Another possibility, even simpler from Toyota's perspective, would be to adapt the existing Daihatsu Copen roadster. Sure, it's front-engine and front-wheel drive, but it's a small, light roadster. And even better, it sells abroad with a larger 1.3-liter engine. Restyle it slightly, perhaps to resemble the S-FR concept of a couple years ago, and it's an off-the-shelf solution. The S-FR itself is a third possibility.

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.