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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.

Google self-driving Lexus crashes into a bus

Google's self-driving cars have been in accidents before, but always on the receiving end... at least, until now. The company has filed a California DMV accident report (PDF) confirming that one of its autonomous vehicles (a Lexus RX450h) collided with a bus in Mountain View. The crash happened when the robotic SUV had to go into the center lane to make a right turn around some sand bags – both the vehicle and its test driver incorrectly assumed that a bus approaching from behind would slow or stop to let the car through. The Lexus smacked into the side of the bus at low speed, damaging its front fender, wheel and sensor in the process. This was a minor incident, and we're happy to report that there were no injuries. However, this might be the first instance where one of Google's self-driving cars caused an accident. If so, the Mountain View crew can no longer say it's an innocent dove on the roads -- while this wasn't a glitch, its software made a decision that led to a crash. We've reached out to Google to see if it can elaborate on what happened. No matter what the response, it was always going to be difficult to avoid this kind of incident. Until self-driving cars can anticipate every possible road hazard, there's always a chance that they'll either be confused or make choices with unexpected (and sometimes unfortunate) consequences. However, the hope at this early stage isn't to achieve a flawless track record. Instead, it's to show that self-driving cars can be safer overall than their human-piloted counterparts.Related Video:This article by Jon Fingas originally ran on Engadget, the definitive guide to this connected life. Image Credit: AP Photo/Eric Risberg Green Lexus Safety SUV Autonomous Vehicles Videos California transportation gear

Lexus, Mazda and Subaru top Consumer Reports Brand Report Cards

A revised methodology in devising its annual Car Brand Report Cards has seen Consumer Reports award Lexus its top overall ranking for 2013. For the first time ever, the institute broke out individual brands from their larger corporate umbrellas, meaning car makers like Lexus and Scion were judged independently from parent company Toyota. That strategy worked out well for Lexus, as the luxury brand earned a top report card score of 79 for the 2013 model year.
The institute has recommended every one of the Lexus models it has tested to date, and said that the company's products won out thanks to "a foundation of plush and very reliable vehicles."
Meanwhile, Mazda and Subaru tied for the second-highest scoring report cars, with scores of 76. Subaru earned praised for sporting models like the BRZ, which CR testers apparently had a lot of fun driving (naturally), while the Mazda products were lauded for their blend of practicality, sportiness and efficiency. Both of the Japanese brands offered good handling, fuel economy and versatility, said Consumer Reports.