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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 IS sedan refreshed and restyled in Beijing

The current IS with its polarizing sheetmetal has been for sale since 2013, and Lexus has now updated the styling, turning it up a notch. The new IS has a mouth that is perhaps even more gaping than the outgoing model's front end. The intakes have been enlarged, making the front bumper more aggressive even on the IS200t base model. Along with a reshaped spindle grille, the headlights have been redesigned and now feature L-shaped daytime running lights. The checkmark-shaped "light guides" underneath them have also been made more pronounced. Lexus says they have reached for a design that would make the car look like it's in constant motion even when sitting still – perhaps a design cliche, but often attempted, and the character line on the sides has been enhanced for that reason. Did they succeed? You be the judge. Inside, the central information display has grown from 7 inches to 10.3, along with getting higher resolution. Otherwise, the interior remains much as it was. There are small touches here and there, including a redesigned gauge cluster, but mostly it's all about new color choices. On the engine front, the lineup continues to rely on three engine choices. The IS200t carries on as the downsized base four-cylinder option with a twin-scroll turbo charger and cycle-shifting Variable Valve Timing-intelligent Wide – still good for 241 horsepower. The IS300 gets a 255-horsepower V6 and the top-rung IS350 offers up 306 ponies from its 3.5-liter V6. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. New Lexus IS Debuts at the 2016 Beijing Auto Show BEIJING (April 25, 2016) -- A daring new styling direction, exciting performance and innovative technology defined the completely new Lexus IS that was introduced in 2013. Since then, sales of the luxury brand's entry-level sedan have surpassed expectations, outselling the previous-generation model, which was very popular in its own right. At the Beijing Auto Show today, Lexus has taken the covers off the new IS, armed with a fresh new look and a number of important changes. Because the original styling of the current IS has proved so popular, Lexus has kept the essence of car's exterior appearance intact; however, the entire front fascia of the new model has undergone a transformation, highlighted by new headlamps, large air intakes in the front bumper and an evolution of Lexus' spindle grille.

2018 Lexus RX 450hL hybrid will start just over $50,000

Lexus has announced pricing on its 2018 RX 450hL, saying that its new three-row, all-wheel-drive hybrid crossover will carry a starting MSRP just $1,550 higher than the non-hybrid AWD RX 350L when it goes on sale starting in April. The RX 450hL will start at $51,615, positioning it right in-between luxury crossover competitors like the Mercedes-Benz GLE 350 and Infiniti QX60. The Luxury package, which adds features like semi-aniline trimmed seats, interior LED ambient lighting, laser-cut wood trim and 20-inch machine-finished alloy wheels, bumps the price up to $55,550. Prices include a $995 delivery, processing and handling fee. Lexus says the 450hL will get new features like second-row captain's chairs, leather-trimmed seats and complimentary Lexus Inform Safety Connect and Service Connect membership for the first 10 years of ownership. Standard safety features include a pre-collision system with pedestrian detection, lane-keep assistance, intelligent high beam headlights and all-speed dynamic radar cruise control. The RX 450hL combines a 3.5-liter V6 engine with two high-torque electric drive motor-generators to produce 308 in combined horsepower, with an EV mode allowing it to run on pure electric power at lower speeds for short periods. Lexus hasn't yet released fuel-economy figures for the hybrid, but the conventional RX 450h is rated at a combined 30 mpg by fueleconomy.gov. Lexus has added 4.3 inches to the rear body length of the 450hL and added more room for third-row occupants by incorporating a steeper tailgate. We've previously covered the introduction of the three-row RX 450hL and the 2018 RX 350L, which is powered by a 290-hp 3.5-liter V6 and is available in both front- and all-wheel-drive. The latter starts at $48,665 and goes up to $55,080. The RX line has been Lexus' best-selling model, with sales of 108,307 units in 2017.Related Video: