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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 IS 250 to get new turbo four?

"All show, no go." That's how I described the 2014 Lexus IS 250 F Sport that you see above, when I reviewed it back in November. Don't get me wrong, there's a lot to like about the new IS, but the 204-horsepower, 2.5-liter V6 in the IS 250 is not on that list. In my review, I suggested that Lexus ought to get on the bandwagon of offering a small-displacement, turbocharged, four-cylinder engine in its base IS (like its rivals), and now the folks at Motor Trend are furthering that discussion.
Lexus pulled the wraps off its new NX 200t crossover at the Beijing show recently, and it'll be the first vehicle in the company's lineup to use a brand-new - you guessed it - 2.0-liter turbo-four. With 238 horsepower and 258 pound-feet of torque on tap, that represents a healthy increase over the 204 hp and anemic 185 lb-ft currently being offered with the 2.5-liter V6, and we imagine the fuel economy gains will be rather significant, too. For comparison, the Lexus' four-pot power numbers are very close to the 240 hp and 255 lb-ft offered in the same-sized engine that BMW uses in the 328i.
Motor Trend also posits that Lexus may consider changing the base IS' name from 250 to 200, or perhaps 200t, to properly reflect the new engine's displacement. Of course, that's assuming Lexus doesn't pull a BMW or Mercedes-Benz, and no longer has its alphanumeric names properly reflect the size of the powerplant found underhood.

Pontiac Aztek enjoys rebirth thanks to Millennials

Apparently, Millennials – those between 18 and 34 – aren't afraid to look different on the road, and they like performance, too. A new study by Edmunds is discovering some surprising vehicle choices by this group. Among them, the long-derided Pontiac Aztek is getting a new day in the sun with 25.5 percent its buyers coming from this generation in the first half of 2015. For comparison, Millennials represent an average of 16.8 percent of used car purchases. The Aztek is slowly shaking its reputation as a styling abomination, which seems tied to its appearance on Breaking Bad. The show premiered in 2008, and the Pontiac has been on this list for four of the past five years, according to Edmunds. It even led the pack in 2010. A recent Retro Review from MotorWeek also showed that the crossover wasn't always so hated. While it's still a shock to see the Aztek on any popularity list, the awkward-looking crossover only ranks sixth among Millennials. The vehicle with the biggest portion of buyers from the generation is the Dodge Magnum with 27.6 percent. According to Edmunds, the bluntly styled wagon is especially popular in Detroit and Chicago. The Chrysler Pacifica comes in a close second at 27.3 percent. When it comes to used cars, value and utility appear to trump just about anything else for many Millennial buyers," Edmunds analyst Jeremy Acevedo said in the report. Young buyers aren't afraid of sporty rides, either. The Subaru WRX has 26.4 percent Millennial buyers to rank third place on the list, and the Volkswagen R32 takes fifth at 25.7 percent. Just a few points lower in seventh place is the Nissan GT-R at 25.4 percent, and the final performance machine in 10th place is the Lexus IS-F with 24.7 percent. Related Video: