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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: No plans for LFA replacement anytime soon

Supercars are fantastic in terms of their raw performance, sound and ability to inspire interest in an automaker. They aren't so good at actually making money, even for giant, global automakers like Toyota. And if you are holding out hope that Lexus might be fibbing about there being no plans for an LFA successor, we have some bad news. "I think you will see us do some incredible things in the future, but probably not a $375,000 supercar anytime soon," Lexus Executive Vice President Mark Templin told Automotive News. The issue comes down to the LFA's cost to develop and massive price. Lexus built just 500 of the V10 supercars from 2010 through 2012. Templin said that the plan was originally for a much more modest vehicle with a steel body. However, that intention changed to plans for an aluminum exterior and eventually evolved further to carbon fiber during the course of its engineering. Templin is clear that Lexus isn't giving up on more accessible performance with its F sub-brand models, but more supercars aren't coming, at least not anytime soon. He previously suggested that the LFA was a generational model with a 30-year wait for the next one. These days, the workshop that built the LFA has been converted for a much less powerful but perhaps more important vehicle. Toyota now uses it to build the Mirai with the company's hydrogen fuel cell powertrain. Related Video: Featured Gallery 2012 Lexus LFA: Review View 30 Photos News Source: Automotive News - sub. req.Image Credit: Copyright 2015 Drew Phillips / AOL Plants/Manufacturing Lexus Toyota Coupe Performance Supercars supercar lexus lfa

Stand out in the parking lot | 2017 Lexus NX 200t F-Sport Quick Spin

Timing is a funny thing. As I'm writing this mini-review of the Lexus NX 200t, which has been out for several years and used the brand's first turbocharged engine in America, a newly-revised NX just debuted in China. It doesn't have much bearing on my thoughts about the CUV, but it does go to show the growing importance of China for luxury manufacturers like Lexus and Mercedes-Benz. It's been almost three years since we drove the NX 200t for the first time. Back then, our reviewer was impressed by how different it felt from the RAV4 – the two vehicles share a platform, although Lexus claims 90 percent of the NX is distinct from its Toyota cousin. The biggest differences are styling and, more important, the powertrain. With turbocharging going very mainstream in the intervening years, how does the NX200t hold up? I spent a week in an F-Sport trim in a striking orange color to find out for myself. It took a little while for me to warm up to the powertrain. Even in Sport mode, things seem ... well, they seem a little sluggish. The NX has a funny way of expressing its slightly more than adequate horsepower and torque by requiring a hefty punt to spool up the turbo and get things moving along. Normal drive mode could pass for an economy setting. Back in 2014 when this thing was new, it was clear that the RAV4 connection doesn't matter as much as we, as enthusiasts, would think. It's easy for us to fixate on what vehicle is related to what platform, and which way its engine sits. And that's good! We need to do that. But Lexus determined that they didn't need it to sit on a rear-drive sportscar platform because of course not! It's a little crossover. From a packaging standpoint, that'd be idiotic, and from a marketing standpoint likewise. Not to say that buyers of the NX 200t aren't discerning. But I think their priorities and desires probably align with what Lexus decided to produce. This is good and proper. Also, it beats the heck out of a RAV4. I love the seats. Every body is different, sure. But these seats are completely spot on for what my body needs. They're sporty-looking without resorting to immense bolsters that pinch the torso, and they're very supportive. I wouldn't say they're the best seat's I've tried out of the hundreds of cars I've driven over the years, but they're probably the best small crossover seats I can recall. To put it in different terms, on some long road trips you need to stop just to stretch – that's not the case here.