Apparently, earlier reports were not true. Toyota’s luxury car arm Lexus clarified that the media event for the upcoming Lexus RC sports coupe will not be cancelled, but merely shortened.
A Toyota spokesman tweeted a clarification that dispelled the confusion about the said event. According to Twitter handle @ToyotaPR, only the “final ½ day” was cancelled, not the entire media drive test Toyota has set up. The spokesman also said that the preceding days had been completely booked by Japanese car journalists.
Earlier reports from car news sites and blogs indicated that the Japan event was cancelled because not enough car journalists RSVP’d yes. The Japanese carmaker sent an apologetic email to foreign media in Japan, saying that the cancellation was “due to insufficient attendance.”
The said event will be held at Yokohama, an area south of Tokyo.
Auto bloggers speculated about the different reasons for Toyota’s move to cancel the event’s latter part. One key speculation is the declining popularity of cars in Japan, especially among the younger generation. The rumor argues that the public’s declining interest in cars is a lot stronger than in the United States.
Some, however, had a different interpretation of the issue. A few bloggers and journalists said that the location did present an issue to attendees. The drive south would make the attendees barrel through traffic jams, said a few bloggers.
A New Powerhouse
The new car to debut on the event is the 2015 iteration of the Lexus RC F Sport. As far as its specifications show, the RC proves to be a powerhouse luxury car. The auto is set to feature the trademark Toyota V8 engine, which boasts of 467 horsepower. The RC F is a more luxurious version of the Lexus RC, a model that comes in three structures: the GS sedans, the IS convertibles, and the IS.
Still Large and Profitable
Despite this PR issue, Toyota remains profitable and dominant in the global auto market. The company forecast indicated a record profit for its second straight year, pointing to the weak state of yen as leverage for more profit. Apparently, the lower value of yen provides more value to Lexus luxury models.
According to Toyota’s predictions, the profit for the next 12 months could hit ¥2 trillion or USD 17 billion. This is significantly higher than its previous prediction of ¥1.78 trillion. Toyota’s profit last quarter beat expectations, with a profit of ¥539.1 billion as opposed to the expected ¥499.5 billion.