2005 Toyota Tundra Limited Edition Pearl White 1 Owner on 2040-cars

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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 sells off Tesla shares, too

The incredible rise of Tesla's stock price has done little to now stop two major shareholders from ditching their stake in the American EV manufacturer. First, Daimler, parent company of Mercedes-Benz, ditched its four-percent stake, and less than a week later, Toyota is doing the same thing, selling off an undisclosed bit of its Tesla investment.
The move comes as Toyota winds down sales of the RAV4 EV, which gets its batteries and electric motor from Tesla at the company's Fremont, CA factory.
"We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects," Toyota spokesperson Kayo Doi told Bloomberg via email.

Toyota Hilux successor spotted

The midsize truck segment is suddenly seemingly exploding with new vehicles worldwide, even here in North America. Not only will the Chevrolet Colorado and GMC Canyon be available very soon, Toyota is already testing a replacement for its aging Tacoma and Honda has promised a Ridgeline replacement within the next 18 months. Also, the recently shown Nissan Navara is said to portend the future of our Frontier. Here's some more fresh evidence from Europe of this pickup boom with the next generation of its venerable Hilux in testing.
Thanks to Top Gear and sometimes the evening news, the Hilux has built a reputation of being able to go just about anywhere. According to out spy shooter, this particular pickup was spotted during hot weather testing in southern Europe. Interestingly, a Volkswagen Amarok was along for the ride as a benchmark. Because the VW tends to offer a bit more comfort than the generally utilitarian Hilux, this could indicate Toyota is considering taking the new truck in a slightly comfier, more refined direction.
Compared to the current model, this camouflaged tester sports a narrower front grille and headlights. The hood scoop is also absent here. The lower air dam also receives a more horizontal look, but the more vertical fog light housings provide some contrast. The crazy camouflage pattern makes things hard to discern at the rear, but the taillights appear to be more slender than they on the current model. Unfortunately, mechanical details about the new truck remain a mystery at the moment, but enjoy these spy shots as a preview of one more upcoming pickup.