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Successor to the Toyota 86 is on the way

Until now, Toyota and Subaru have been mum on the prospect of a follow up to the Toyota 86 and Subaru BRZ. Although both cars received mild refreshes and even milder power bumps, they're both essentially the same cars that hit the market nearly five years ago. It appears a successor is indeed on the way, as Autocar confirms that Toyota is developing a next-gen 86. Karl Schlicht, executive vice-president at Toyota Motor Europe, said that the 86 will live on past the current generation. "The car serves a big purpose," Schlicht said. "We are not getting out of that business. Sporty cars go through their phases. It's our intention to continue with that car." Toyota seems to be back in the sports car business, as the company has partnered with BMW on a new Supra. Like the current Toyota 86, it seems likely that the successor will be co-developed with Subaru. Schlicht says that to get the low center of gravity and the handling characteristics that come along with it, a horizontally opposed engine is a necessity. He admits that there is no firm confirmation of a commitment from Subaru. While no Schlicht gave no details about the new car, he did nix any possibility of a convertible variant. "We wouldn't do it on the current model," he said. "That doesn't mean dealers wouldn't like one, but there are so many other priorities that I don't think we've got spare capacity for that." Related Video:

The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

Toyota announces GT86 CS-R3 rally car

Toyota Motorsport GmbH has developed cars for all manner of racing, up to and including Formula One and Le Mans. But it got its start back in 1979 in rally competition, winning four drivers' and three manufacturers' titles in the World Rally Championship. And now it's announced a new rally car.
Based on the Toyota GT86 (better known to us as the Scion FR-S), the CS-R3 rally car isn't built to contest the top tier of the WRC, but is being developed to conform to the lower R3 class. That means a six-speed sequential gearbox, limited slip differential and upgraded engine, brakes, aero... the works. It'll retain the road-going model's rear-drive setup, joining the front-drive Yaris R1A in TMG's portfolio of customer rally cars.
Further details are set to be revealed "in the coming months", but the GT86 CS-R3 will benefit from the experience TMG accrued in developing the GT86 CS-V3 (pictured above) for the Nürburgring-based VLN endurance racing series.