Toyota’s Quarterly Profit Plummets 49% Amid Tariffs and R&D Costs

Toyota reported a 49% year-over-year decline in operating profit for its latest financial quarter, marking the fourth consecutive quarterly drop and the company’s lowest quarterly profit in nearly three years.

The decline is attributed to increased investments in human resources and future-oriented projects, as well as the impact of U.S. tariffs. Toyota also warned that ongoing conflicts in Iran are expected to cost the company $4.3 billion in 2024 due to higher material costs and reduced sales volume. [CNBC, Reuters]

Automaker Updates: GM, Ford, Porsche, and Mercedes-Benz

General Motors Aims to Boost Pickup Truck Inventory

General Motors plans to increase pickup truck inventory on dealer lots this year to address low stock levels, which have constrained sales. This move comes as Ford has struggled to meet demand for its F-150 due to supplier challenges.

Ford Unveils Carhartt-Branded Super Duty

Ford has announced a new Carhartt-branded Super Duty pickup truck, featuring special branding developed in collaboration with the workwear apparel company.

GM Recalls ACDelco Brake and Clutch Fluid

General Motors has issued a recall for ACDelco brake and clutch fluid after discovering sediment contamination that could impair performance.

Porsche Shuts Down Subsidiaries, Cuts 500 Jobs

Porsche is shutting down three subsidiaries—Porsche eBike Performance, Cellforce, and Cetitec—resulting in approximately 500 layoffs. The company is refocusing on its core business. Cellforce specialized in battery development, while Cetitec focused on automotive connectivity and networking technology. [Reuters]

Mercedes-Benz Recalls 144,000 Vehicles for Instrument Panel Issue

Mercedes-Benz is recalling 144,000 vehicles in the U.S. due to potential instrument panel malfunctions that could cause the display to go blank while driving. The recall covers 2024–2026 model-year C-Class, E-Class, SL, CLE, GLC, and AMG GT vehicles. Dealers must update the control unit software to fix the issue; no over-the-air solution is available. [NHTSA]

Volkswagen to Unveil ID Polo GTI at Nürburgring

Volkswagen will fully unveil the ID Polo GTI, the hot-hatch version of its new affordable electric city car, at the 24 Hours of Nürburgring next weekend. Notably, the U.S. market will not receive this model.

Weekend Racing Schedule

• WRC Rally Portugal: All weekend long on Rally.TV
• NASCAR Craftsman Truck Series at Watkins Glen: Friday at 4:30 p.m. on FS1
• WEC 6 Hours of Spa-Francorchamps: Saturday at 8 a.m. on HBO Max
• NASCAR O’Reilly Auto Parts Series at Watkins Glen: Saturday at 4 p.m. on CW
• IndyCar at Indianapolis Road Course: Saturday at 4:30 p.m. on FOX
• MotoGP French Grand Prix: Sunday at 8 a.m. on MotoGP Video Pass
• NASCAR Cup Series at Watkins Glen: Sunday at 3 p.m. on FS1

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