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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.

Autoblog Podcast #339

Farewell, Zach Bowman; Pikes Peak 2013; Datsun; 2014 Ram lineup
Episode #339 of the Autoblog Podcast is here, and it's the last rodeo for Zach Bowman before he departs for other pastures. The crew this week consists of Dan Roth, Zach Bowman and Jeff Ross, who talk about the astounding records set at this year's Pike's Peak hill climb, the return of the Datsun brand name and the recently-announced 2014 Ram truck lineup. Of course, we start with the garage and end with your questions and comments. For those of you who hung with us live on our UStream channel, thanks for taking the time. You can follow along after the jump with our Q&A. Thanks for listening!
Autoblog Podcast #339:

2018 Lexus RX 350L, RX450hL are here to fill your 7-seat needs

The Lexus RX is the Japanese automaker's best-selling model, moving nearly twice as many units so far this year as the runner-up, the Lexus NX. Considering the state of the crossover-crazed market, that should be a surprise to absolutely no one. Still, customers demands more, and automakers are happy to deliver. Currently, Lexus has a three-row crossover-shaped hole in its lineup. Soon, that gap will be filled by the new seven-passenger 2018 RX 350L and RX 450hL. Sure, you can get three rows in the GX and LX, but traditional SUVs like that aren't selling nearly as well as more fuel efficient and more affordable car-based crossovers. The RX 350L and RX 450hL are based on the standard and hybrid RX variants. The pair have been extended by 4.3 inches to help accommodate an extra pair of seats. The angle of the rear window has also been changed to make sure third-row occupants have a reasonable amount of headroom. The RX's second row folds in a 40/20/40 split. Access to the third row is granted with a lever that slides the second row up and forward. The second row also sits slightly higher than the third, creating some much needed footroom. Tri-zone climate control is available, and gives those in steerage control of their own ventilation. A pair of cup holders keeps drinks from ending up in the hair of those sitting up front. The third row folds flat when not in use. Like the standard RX 350, the RX 350L is powered by a 290-horsepower 3.5-liter V6 and is available in both front- and all-wheel drive. The RX 450hL comes standard with all-wheel drive. It's powered by a 3.5-liter V6 and two electric drive motors. Total power output is 308 horsepower. An EV mode allows the hybrid to run on pure electricity for a short amount of time. The models go on sale early next year. Related Video: Featured Gallery 2018 Lexus RX 350L: LA 2017 View 15 Photos Related Gallery 2018 Lexus RX 350L News Source: LexusImage Credit: Live photos copyright 2017 Drew Phillips / Autoblog.com Green LA Auto Show Lexus Crossover SUV Hybrid Luxury lexus rx 2017 LA Auto Show lexus rx 350