Toyota Motor Corp. nearly doubled its operating profit to $7.75 billion in the latest quarter, fueled by semiconductor shipments and strong sales in major markets. However, the company is concerned about the weaker performance in North America, which is affecting its ability to invest in electric vehicle production.
- Toyota Motor Corp. nearly doubled its operating profit in the last quarter due to increased supply from semiconductor shipments and strong sales in key markets, especially in Japan. The operating profit rose to $7.75 billion, up from $4.00 billion a year earlier.
- North America margins sat at 3% while Europe was at 6.3% and Japan at 14% leading to an overall margin of 10.6%, up from 6.8% last year
- The company maintains its forecast for record production, global sales, and operating profit, despite uncertainty in the U.S. market. Toyota's outlook calls for production of Toyota and Lexus brand vehicles to climb to a record 10.1 million vehicles in the current fiscal year, with global retail sales expected to reach a record 11.38 million units
The historic heatwaves in Texas are leading to unexpected vehicle breakdowns, according to mechanics and technicians from Bosch. In addition to common issues like dead car batteries and flat tires due to the extreme heat, newer problems are also emerging.
- Rubber compounds as well as the actual plastics in windshield wipers are breaking down, leading to scratches on the glass. Doc Watson, the Bosch training manager, said, "You’re driving around in 112° temperature, you’ve got heat reflecting off the glass, and that causes the rubber components of a wiper blade to break down.”
- The high temperatures are negatively affecting car brakes as well. The heat causes the moisture trapped in the brake fluid within the master cylinder to expand, leading to a loss of brake feel, or "brake fade."
The YouTube star, Mr. Beast (aka Jimmy Donaldson) is growing up and has lawyered up. He and his company, Beast Investments, is filing a lawsuit against his business partner, Virtual Dining Concepts, over the quality of his branded food line, MrBeast Burger. Citing 'inedible' food and damaged reputation, Donaldson seeks to terminate the business relationship, pointing to issues of late deliveries, unbranded packaging, and even missing ordered items."
- The suit alleges that Virtual Dining Concepts prioritized expansion over quality control, leading to food quality that was consistently poor and damaging to MrBeast's brand. Negative reviews cited in the lawsuit include descriptors such as "revolting" and "likely the worst burger [they] have ever had.
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