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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 CT 200h gets four changes for 2016

As Toyota rolls out its updated 2016 model range, it's clear that some refreshes are fresher than others. Whereas the 2016 Scion tC got breathed on, the 2016 Lexus CT 200h gets a mere glance, and only for a moment. Just four items differentiate the coming model from the one currently on sale, and three of those are optional: a chrome surround for the grille is standard; a moonroof, Lexus Enform Remote, and Lexus Service Connect are options. Lexus Enform Remote gives owners control of the car through an iOS or Android smartphone app so they can do things like unlock and lock the doors, remote start the engine, and locate the vehicle. Lexus Service Connect works through iOS or LexusDrivers.com site only and provides notes on vehicle health. Both services are by subscription. The CT 200h doesn't make a lot of headlines but it's a good performer for Lexus. It wins awards, it's the only luxury hybrid to get more than 40 miles per gallon, it's put up consistent sales numbers for the four years it's been on the market, and it's the brand's second-best-selling hybrid globally after the RX hybrid. We've already told you what's new, the press release below can tell you everything else you'd want to know. Related Video: 2016 Lexus CT 200h Offers Compact Attitude With Impressive MPG - 42 MPG EPA Estimated Combined Fuel Economy - F SPORT Package Delivers Sporty Performance - Peace of Mind with Lexus Enform Remote and Lexus Enform Service Connect July 24, 2015 - What do you get when Lexus melds a sporty luxury compact with an environmentally conscientious attitude? The 2016 CT 200h. With an EPA-estimated 42 MPG combined fuel economy the CT 200h is one of six hybrid models Lexus offers for 2016. Lexus has been the hybrid luxury leader since it introduced the first luxury hybrid more than 10 years ago. The CT 200h broke new ground for Lexus, introducing the brand to a younger generation of highly discerning customers. They, too, quickly discovered the refinement and driving pleasure that characterize the progressive luxury inherent in every Lexus. A sporty chassis keeps the CT 200h connected to the road's curves, and for 2016, the dashing look is enhanced with a chrome surround grille. Drivers can also now opt in for additional peace of mind with Lexus Enform Remote and Lexus Enform Service Connect. Lexus Enform Remote (subscription required), allows the owner to remotely view and control certain vehicle features using a mobile app for iOS and Android devices.

Updated 2016 Lexus LX 570 bows in Monterey

Lexus just pulled the wraps off its 2016 LX 570, and though the updates are minor, they're long overdue. A new one-piece spindle grille – framed by a satin chrome trim – defines the front end aesthetically, and adds a more aggressive look, bringing the eight-passenger SUV up to speed with Lexus's current design language. New LED headlights, turn signals, and foglights further distinguish the front end. The LX 570 adds new wheels, the standard 20-inch split 10-spoke wheels, with an available 21-inch option. While the new LX keeps the brawny 5.7-liter V8 – rated at 383 horsepower, with 403 pound-feet of torque available at 3,600 rpm – it adds a new transmission. For 2016 the LX 570 drops the six-speed in favor of a new eight-speed automatic transmission. This combination means the LX is capable of towing 7,000 pounds, and we expect the 4WD system – the LX flaunts its Toyota Land Cruiser roots – to be as formidable as on the current model. Drivers will appreciate the new Drive Mode Select, which adjusts throttle and suspension calibration with the turn of a dial. The system works in conjunction with the adaptive variable suspension, which adjusts damping, and makes for a smoother ride in the cabin. Drivers can choose from four modes: Eco, Comfort, Sport, and Sport +. The LX gets more standard safety features for 2016, including the Lexus Safety System+, a blind spot monitoring system with rear cross traffic alert, and a tire-specific TPS that gives pressure readings for each tire. Additionally, the multimedia system gets a boost with a new 12.3-inch screen with a remote-touch interface. The Panoramic View Monitor, and "Climate Concierge" are now standard features, while a heads-up display is now an available option. Scroll down for the full details in the press release. Making a Classic Entrance: Lexus Debuts Refreshed 2016 LX 570 Luxury Utility Vehicle at Pebble Beach Concours d' Elegance ???? - Redesigned Exterior Highlighted By One-Piece Spindle Grille ? New Eight-Speed Automatic Transmission - More Standard Safety Features: Lexus Safety System +, Blind Spot Monitor with Rear Cross Traffic Alert, Tire Specific Tire Pressure Monitoring System - Upgraded Multimedia With Larger 12.3-inch Screen and Remote Touch Interface - Added Standard Features Including Panoramic View Monitor and Climate Concierge - Available Lexus Enform Service Connect - Available Heads-up Display MONTEREY, Calif. – Aug.