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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 NX debuts in turbocharged and hybrid guise

Lexus showed off its polarizing new NX at the 2014 Beijing Motor Show, trotting out both the turbocharged 200t model (Lexus' first production turbo) alongside the hybrid-powered 300h.
We still don't know a great deal about the turbocharged model, aside from the fact that the engine underhood is a 2.0-liter four-cylinder, although we're hoping to get details sooner rather than later. For reference, the 2.0-liter turbo in the BMW X1 pumps out 240 horsepower while the four-pot turbo in the Mercedes-Benz GLA250 turns out 208 horsepower, which leads us to think we should expect the Lexus to fall somewhere between these two figures.
If Lexus' naming strategy in the past rings true here, though, we can confidently say the 300h will use a 2.5-liter four-cylinder Atkinson cycle engine with an electric motor and lithium-ion battery, just like the Lexus ES300h and Toyota Avalon Hybrid. That should mean around 200 system horsepower and well over 30 miles per gallon, although it's probably too early to predict economy with any degree of certainty.

Lexus to debut small hybrid CUV at 2014 Geneva Motor Show

Following rumors that Lexus has been working on a small crossover to slot below the RX (pictured), Automotive News Europe reports that the production-ready CUV will bow at the 2014 Geneva Motor Show next March. Later this year, Lexus will preview this new crossover by way of a concept car at the Tokyo Motor Show in November.
According to the report, this new crossover will be a hybrid, and will ride on the smaller architecture that underpins the Toyota RAV4. Specific details have not been confirmed, but AN states that the entry-level CUV will be powered by the same 2.5-liter gasoline-electric drivetrain found in the Lexus ES 300h. Since Toyota will evidently be taking the time to hybridize the platform, we can't help but assume that it will eventually build a second-gen RAV4 EV.
Either way, with the small luxury CUV segment heating up, Lexus is likely smart to offer a player in this space. Until now, there has not been a Lexus crossover below the RX, and this new model will compete with other new players in the class including the BMW X1 and Audi Q3.