Toyota's Gloomy New Forecast Cuts Annual Profits by More than Half

After losing the top spot as the world's largest automaker, Toyota is now halving its profit forecast due to a number of factors, the most important of which are the production disruptions caused by the earthquake and tsunami in Japan in March and the recent floods in Thailand, as well as the strong yen.

Toyota said that it expects to bring in a net profit of 180 billion Yen [US$2.3 billion] for the fiscal year ending March 31, 2012, down 53.8 percent from the 390 billion yen [US$5.04 billion] it projected in August.

Read more »

Taiwan's Luxgen Launches its First Sedan Model, the Luxgen5 [Videos and Gallery]

Mazda isn't the only automaker to use its name as a designation for its model series. Taiwan's aspiring new automotive brand Luxgen has adopted the same nomenclature for its range of models that has now been expanded with its first ever four-door sedan, the Luxgen5 that joins the Luxgen7 MPV and Luxgen7 SUV.

The newly revealed Luxgen5 is the production version of the Neora EV concept study that was exhibited at the Auto Shanghai 2011 in China earlier this year.

The Taiwanese automaker says it is targeting the medium-large sedan market with the new Luxgen5 that will make its world premiere at the 2012 Taipei Auto Show next April.

According to Luxgen, the four-door model has been created for global markets in mind since its inception. The chassis has been designed with the support of US engineering analysts Altair, while the car was tested by UK safety organization Mira to meet the chassis configuration requirements of local and overseas markets.

Read more »

New Mitsubishi Mirage is a No Frills - Low Cost Entry in the Small Car Segment

You'd think that with the rise of the Korean auto industry, a troubled Japanese carmaker like Mitsubishi would up its game and even take some risks to gain a competitive edge.

Instead, Mitsubishi goes and creates the Mirage – quite possibly, the most bland looking city car in the market today…

But perhaps that was Mitsubishi's plan all along […] as the company claims that the design of the small subcompact model "was focused on compactness, affordability, and high fuel efficiency in order to fit the needs of emerging markets as an affordable entry-level model as well as needs of advanced markets for fuel efficiency and low-CO2 emission."

Read more »

Just Some Drifting Fun at the Local Parking Lot [Video]

Skilled drivers with a certain amount of experience behind the wheel don't need a lot of space to have some fun with their cars - and without getting into the same trouble as the owner of this white Corvette C6...

The video that follows after the break was shot in Taiwan and it shows a couple of dozen local drivers with their modded cars practicing their drifting skills on a relatively small parking lot marked with cones.

Read more »

Lexus Reveals New Entry Level GS 250 with 209HP 2.5-liter V6 Engine

The new generation of the Lexus GS premium saloon will soon become more attainable –at least in certain markets around the world- as the Japanese carmaker revealed the new entry-level GS 250 today at the China International Automobile Exhibition in Guangzhou, which will be open to the public from November 22 through 28.

The GS 250 is the third model in the new GS lineup, after the previously revealed GS 350, which is powered by a 3.5-liter V6 delivering 306-ponies and the GS 450h top-end model that links a 3.5-liter Atkinson-cycle V6 to the Lexus Hybrid Drive for a combined system output of 338-horsespower.

At the heart of the new GS 250 lies Lexus' 2.5-litre V6 gasoline engine with D-4S direct port injection and Dual VVT-i intelligent valve timing.

It produces a maximum output of 209HP (154 kW/206bhp) at 6,400rpm and 253Nm (187 lb-ft) of peak torque at 4,800rpm, accelerating the GS 250 from 0-100km/h (62mph) in 8.6 seconds en route to a top speed of 230km/h (143mph).

Read more »

From 0 to Crash in 18 Seconds: Subaru Impreza STI Track Racer Bummer

Imagine this: you're all suited up, complete with racing helmet, gloves and shoes, bolted in the racing bucket seat of a Subaru Impreza WRX STI with your buddy by your side to experience the thrill of a life time on the race track.

But alas; as soon as the flag goes down your STI stalls and the engine shuts off. Your friend chuckles but no worries, just turn the key and fire up the turbocharged flat four and let's take it from the start.

Okay, we're ready now and yes, 18 seconds later you've reached the final cone and you can unleash the awesome power of Subaru's boxer engine only to…crash into a wall! On the bright side, you may have just set a new track record for the fastest crash ever…

Read more »

Are they for Real? Carry-On Folding Boat to Tackle Thai Floods…[Video]

As the old adage goes, necessity is the mother of all inventions. For almost half a year now, Thailand's residents have been experiencing some of the worst floods ever recorded in the country in the last 50 years.

But while there has been widespread human suffering, loss of life and damage to products and properties, the natural disaster has also offered plenty of opportunity for business inventiveness – from motorcycle and automobile snorkels to makeshift ladders and fashionable water boots.

However, none of the above comes close to what you're about to watch in the commercial below. In fact, the idea is so absurd that we're thinking it may be some kind of video prank – albeit a very well executed one, if that's the case.

The advert says the Ready Boat is a foldable, lightweight carry-on vessel with a single row included and which can transfer up to two people with a combined weight of up to 150kg or 330 pounds.

Read more »