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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.

2015 Lexus RC F leaked out ahead of upcoming debut?

Lexus has had a somewhat volatile relationship with coupes. The first-gen SC gave way to the bloated second-gen convertible, which itself went out of production three years ago. The LFA arrived the same year the SC departed, but awesome as it was, it's six-figure price tag and limited production put it well out of reach even for the brand's typical upscale customers. That left only the IS Convertible to hold down the two-door end of the lineup, but Lexus is keen to fill that void with the arrival of the upcoming RC.
Oft been spied and speculated, the RC has reportedly leaked out from Japan's Best Car magazine in tantalizing RC F spec - although with the increasing quality of renderings (and the graininess of the photos in question), we could be looking at an artist's impression. That will upgrade the base coupe's anticipated 3.5-liter V6 and 306 horsepower with a 5.0-liter V8 churning out 455 hp, along with more aggressive styling previewed by the LF-CC concept.
Signs point toward the RC serving as the coupe counterpart to the IS, while the IS Convertible is expected to carry on (either in current or facelifted form) on the outgoing model's platform. Look for a reveal at either the Tokyo Motor Show in November or the Detroit Auto Show in December.

Ford, Toyota clean up in Best Car For The Money Awards

The U.S. News Best Cars for the Money Awards picks winners by looking at the average transaction price, five-year total cost of ownership, the regard a car has from the automotive press, reliability figures from J.D. Power and Associates and safety data from the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety. The result, according to the magazine, is "the best combination of critical acclaim and long-term value."
Ford nabbed six of the 21 categories that received awards this year, the Focus, Fusion, Fusion Hybrid, Taurus, Escape and Edge getting trophies. Toyota and its Lexus and Scion sub-brands took another five, the Tacoma and Tundra owning the two categories given to pickup trucks. The other ten awards were split between Honda with three, Buick with two, and one each for Subaru, BMW, Hyundai, Chevrolet and Mazda.
Follow the link to see all the winners and read about why they were chosen.