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Lexus parts prices cut in China amidst antitrust fears

It's been a topsy-turvy summer for foreign businesses in China ever since that country's National Development and Reform Commission and State Administration for Industry & Commerce launched a horde of investigations into anti-monopoly practices. When the law outlining monopolistic behavior was passed in 2008 foreign companies appreciated it, expecting it to illuminate some of the more opaque corners of Chinese government enforcement. That hasn't exactly been the case, and now as more than 1,000 auto-sector firms get investigated and pay huge fines to settle the nebulous charge of having prices that are too high, that hoped-for clarity is all but gone.
A recent news report said Audi, Chrysler and Daimler "would be punished for unspecified violations" concerning the prices of spare parts. Earlier this month Toyota said that Lexus China was being looked at, and before there's been any public notification of punishment Lexus has decided to lower the price of its replacement parts. From next month, customers will save an average of 26 percent on roughly 15,000 parts. It's unknown whether the move will appease authorities enough to end the investigation, which outside analysts have said targets foreign firms in China over domestic industry.

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 dumps RC F Super GT in favor of stunning LC 500 racer

Japan's Super GT series remains a favorite at the Autoblog office, because like British Touring Cars and Germany's DTM, the cars look vaguely like the ones you can actually buy, and the racing is close and intense. And next year, Japan's wildest racing will include the Lexus LC 500. Toyota and Gazoo Racing are phasing out the old RC F – which will continue racing here in the US GT3 ranks since it's barely a year old – in favor of Lexus' bigger, cushier two-door coupe. The racer depends on a 2.0-liter, turbocharged four-cylinder – just like every other car in the GT500 ranks – but unlike the 5.0-liter V8 or a 3.5-liter hybrid V6 in the LC 500s folks could actually buy. But let's ignore the mechanicals, because look at this monstrous racer. The LC is already the best looking car to wear Lexus' polarizing design language, but the aggressive cuts, angles, and oddly shaped headlights look great when paired with a Super GT car's aerodynamic appendages. Monstrous, flared wheel arches, a mammoth rear wing, and side skirts big enough to serve drinks on are just a few of the aero improvements for the LC 500 racer. Then, there's the really cool stuff, like the exhaust exit in the passenger side door. All cars should have side-exit exhausts in the door. According to Toyota and Gazoo's Google Translated website, the new LC 500 Super GT500 will campaign in the 2017 season. We can't wait to see it hit the track. Related Video: