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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 LF-NX Concept takes aim at the small crossover herd [w/video]

Lexus is drawing crowds with its sharply styled LF-NX Concept, a car that previews a competitor for the likes of the BMW X1, Mercedes-Benz GLK (also debuting at Frankfurt) and Audi Q3. We previewed the LF-NX last week, but we've since gotten a bit of in-person time with the compact crossover on the Frankfurt show floor.
There's a lot of show-car tinsel here, but the makings of a production model are fairly visible. That trademark Lexus face, with the separate headlight and running light arrays and an even more extreme version of the "spindle" grille, is present and accounted for. The styling is sliced and carved, like the Lexus IS, although it's difficult to tell if the production model will be quite so extreme in its looks. We'll bet yes.
Take a look above for the full set of live images from Frankfurt, then scroll down for video and some of the stock images from the original, online unveiling. Finally, click over for our complete coverage of the LF-NX from its debut, last week.

Lexus gives Jay Leno a shot at driving its 2014 IS

After we drove a prototype of the 2014 Lexus IS, we were told that Lexus was shipping it back to Japan. As it turns out, late-night funnyman Jay Leno was already in the motherland with the coming sport sedan, and he lapped it around Fuji Motor Speedway with Chief Engineer Junichi Furuyama.
This was probably during his LFA drive two months ago, actually, when Furuyama-san was even more tight-lipped about the IS than he was a week ago, so Leno has to make the best guesses he can. Leno goes over the whole car, then takes it out for a casual spin, so at least you get to see it in action. As for Jay's take, you'll just have to watch the video below to find out.