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Toyota profits up 23% on high US sales, despite mounting legal costs

Toyota earned $9.3 billion in net income in the financial year that ends next month. The number beats earlier forecasts and marks a five-year high for the automaker, with both operating income and revenue up by 9.5 percent and 2.5 percent, respectively. Toyota saw quarterly profit enjoy a year-on-year jump of 23.4 percent, with the manufacturer earning more than $1 billion between October and December 2012. The good news comes in spite of the fact that the Japanese automaker actually endured an operating loss in North America, due in part to legal fees.
Toyota is set to pay more than $1 billion to owners who claim their vehicles decreased in value as a result of the company's recent spate of recalls. Even so, all three of the automaker's brands enjoyed a 13.5 percent sales increase in the US in the last quarter, beating the industry average. Toyota faltered in Europe, however, where it earned $99 million in operating profit last year, compared to $111 million in 2011. You can take a closer look at the company's full press release below for more information.

Lexus takes to Pikes Peak in RC F GT Concept

Lexus is gearing up to take on Pikes Peak with the RC F GT Concept you see here, developing the new racing prototype for the venerable hillclimb event. Different from the more extreme GT3 and GT500 racing concepts we've seen to date, the new GT concept is more closely based the road-going RC F. Only it's leaner and meaner and ready to take on the grueling 12.4-mile race to the clouds and all its 156 turns. The RC F GT packs the same 5.0-liter V8 and eight-speed automatic transmission as the production model. The major difference is that it weighs some 800 pounds less, thanks largely to the widespread use of carbon fiber body panels and polycarbonate windows. It also incorporates a more aggressive aero kit and rolling stock, and allows the technicians to tune the engine for competition applications. To tackle the Peak, Lexus is handing the keys over to none other than Justin Bell, the former GT2 class winner of the 24 Hours of Le Mans and the FIA GT Championship. He'll be fielding the RC F GT in the Time Attack class for production-based vehicles, while providing Lexus engineers with valuable performance data and the chance to develop components for future applications. Two years ago, the IS F CCS-R prototype competed in the same event, and served as a test bed to develop the powertrain that went into the RC F that followed. Related Video: LEXUS TO COMPETE IN 2015 PIKES PEAK INTERNATIONAL HILL CLIMB WITH ALL-NEW RC F GT CONCEPT - V8 Powered, Production Car-based Coupe to be Driven by Justin Bell - RC F GT Program to Serve as Key Developmental Tool for F brand Engineering June 22, 2015 TORRANCE, Calif. (June 22, 2015) – On June 28th, Lexus will compete in the Time Attack class of the Pikes Peak International Hill Climb. The luxury automaker will be campaigning the all-new RC F GT Concept, a vehicle that builds upon the legacy of the IS F CCS-R vehicles that last competed at Pikes Peak in 2013. This historic event, now in its 93rd running, is a race against the clock that tests man and machine with the changing elements, altitude, and a treacherous 12.42 mile, 156 turn course that winds up the peak from 9,390 feet up to the 14,115 foot summit. The new Lexus will be piloted up the mountain by British driving ace, 24 Hours of Le Mans winner, and automotive media personality Justin Bell. "With very little time behind the wheel, the RC F GT Concept has already proven fast and easy to drive, very much like the production models, actually.

Lexus IS 200t gets a 245 hp turbo four-cylinder, comes here in 2016

The exact timing isn't clear, but now that we have the good news we're ok with a little wait: in Europe Lexus just replaced the 2.5-liter V6 in the IS 250 with its 2.0-liter, turbocharged four-cylinder, and we'll get it. The 2.0-liter currently serves in the NX 200t, putting out 235 horsepower and 258 pound-feet. Car and Driver says it will be tuned differently for what will become the IS 200t, with an output of 241 hp and 258 lb-ft. Those numbers whoop the 2.5-liter V6 by 37 hp and 73 lb-ft, and they're just 65 hp and 19 lb-ft under the 3.5-liter V6 in the much more popular IS 350. Improvements continue in the transmission, the IS 200t getting eight cogs - there won't be a manual option - instead of the six-speed 'box mated to the 2.5-liter now. That means buyers can expect a car that's not only more powerful and more responsive, addressing the two fundamental omissions in the IS 250's list of talents, it will also get better fuel economy than the 21 city, 30 highway miles per gallon the old six-cylinder musters. What they can't expect according to CD is all-wheel drive. We're told the engine swap should come "in the early part of the 2016 model year," and it will only come with rear-wheel drive. C/D says that Lexus will bring a third engine to the range that will power an all-wheel entry, which seems a tad complex to us, but if true it wouldn't be the first time the words "Lexus" and "complex" have cozied up together. A press release from Lexus Europe is below. LEXUS TO LAUNCH IS 200t WITH INNOVATIVE 2.0l TURBO PETROL ENGINE • New turbo engine offers superior smoothness and responsiveness, with no turbo-lag and high fuel efficiency • Engine mated to 8-speed Sport Direct Shift transmission • IS 200t on sale in Europe as from September 2015 Brussels, Belgium, 26 Jun 2015 - Lexus is expanding the range of vehicle equipped with its new 2.0-litre turbo engine. Following the launch of NX 200t in early 2015 and the announced arrival of RX 200t by the end of the year, IS is the third Lexus model to be fitted with this new engine. Powered by a new 2.0-litre petrol turbo engine – with innovative D-4ST fuel injection technology for both fuel economy and instantaneous torque – the Lexus IS 200t sports sedan delivers 245 DIN hp (180kW) with a maximum torque of 350 Nm. Capable of rapid acceleration up to a top speed of 230 km/h, its 8-speed Sport Direct Shift transmission was developed for the high-performance RC F.