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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.

Toyota adds more than 1.1 million vehicles to previous fuel pump recall

A Toyota and Lexus recall that previously listed nearly 700,000 potentially affected vehicles has been amended to include more than 1.1 million new rides. Overall, more than 1.8 million cars, trucks, crossovers, and SUVs are part of a voluntary recall regarding fuel pumps that might stop working.    On January 13, 2020, Toyota announced a safety recall for 695,541 Lexus and Toyota models. It included the Toyota 4Runner, Camry, Highlander, Land Cruiser, Sequoia, Sienna, Tacoma, Avalon, Corolla, and Tundra, plus the Lexus LS 500, LC 500, RC 350, RC 300, GS 350, IS 300, ES 350, LX 570, GX 460, RX 350 NX 300, RX 350L, and GS 300. The Avalon, Corolla, NX 300, RX 350L, and GS 300 in the initial recall were specifically 2019 model years, while the rest were 2018-2019.  Today, March 4, 2020, Toyota stated it has expanded the recall to approximately 1.8 million vehicles total. Toyota did not provide a specific number, but here is the full list of potentially affected cars:  2013-2015 Lexus LS 460 2013-2014 Lexus GS 350 2014 Toyota FJ Cruiser, Lexus IS-F 2014-2015 Toyota 4Runner, Land Cruiser; Lexus GX 460, IS 350, LX 570 2015 Lexus NX 200t, RC 350 2017 Lexus IS 200t, RC 200t 2017-2019 Toyota Sienna; Lexus RX 350 2018 Lexus GS 300 2018-2019 Toyota Avalon, Camry, Corolla, Highlander, Sequoia, Tacoma, Tundra; Lexus ES 350, GS 350, IS 300, IS 350, LC 500, LC 500h, LS 500, LS 500h, RC 300, RC 350, RX 350L On these vehicles, a low-pressure fuel pump inside the fuel tank could fail. If this fuel pump fails while the vehicle is in use, the vehicle could sputter and stall. Without warning of the impending malfunction, other than some lights on the dashboard, this could present a dangerous situation for the driver.  For all affected vehicles, Toyota and Lexus will replace the faulty parts with "improved" fuel pumps. Notifications will start in May. Recalls Lexus Toyota

Recharge Wrap-up: Toyota to go electric with Aygo? Renault Zoe bests BEVs in e-Rallye Monte-Carlo

Toyota could sell the Aygo hatchback as an EV. Toyota Europe CEO Johan van Zyl says that the A-segment city car could be a candidate for all-electric power. "We see a stronger growth of that type of thinking in cities where they're saying, 'We'd rather have emissions-free vehicles so it should be a plug-in or a pure-electric vehicle,'" he says. As the Aygo is produced alongside and shares most components with the Peugeot 108 and Citroen C1, it's possible those cars could see a plug-in version in the future as well. Read more at Hybrid Cars. The Renault Zoe took first and second place in the battery electric category of the 2016 e-Rallye Monte-Carlo. Defending Renault's title for a third year, two of the updated Zoes with improved range topped the category, taking second and third place overall. A hydrogen powered Toyota Mirai bested the Renaults by taking first place overall. 34 crews entered the competition, which took them from Fontainebleau, France to Monaco over four days. Read more from Renault. Teslarati talks to Youseph Tanha (AKA Yoshi) about his Tesla Transformer comic art project. Tanha, who cohosts the TransMissions podcast, commissioned artist Brendan Cahill to sketch a comic book cover featuring the Tesla Model X as a Transformer. The result is the Voltic (a name borrowed from Grand Theft Auto 5), an impressively reimagined Tesla Transformer that launches missiles from its falcon wing doors. While it doesn't necessarily fit into IDW's Transformers storyline, the commissioned piece does capture the imagination of comic fans and Tesla enthusiasts alike. Read more at Teslarati. Singapore is launching an EV carsharing program. The nation's Economic Development Board and Land Transport Authority have commissioned Bollore Group's BlueSG to operate the fleet of 1,000 EVs and 2,000 charging points by 2020, with 125 cars and 250 charging points available by the middle of next year. The program – sort of similar to the BlueIndy program in Indianapolis – is part of an effort to reduce pollution. "The future of transport in Singapore will look very different from today," says Coordinating Minister for Infrastructure and Transport Khaw Boon Wan. "Most people will not see the need to own a car." Read more at Wards Auto.