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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 to reveal production NX crossover at Beijing in April

At the Frankfurt Motor Show last year, Lexus rolled out a concept crossover called the LF-NX. It then brought it back, with a new paint job and a turbocharged engine, at the Tokyo Motor Show a few months later. We got another glimpse a couple of months after that during a presentation from Jim Lentz. But now Toyota has confirmed that the finalized production version is just around the corner.
While all the attention is affixed on the Geneva Motor Show, Toyota released a statement (which you can read below) announcing that the NX (as it will officially be known) will debut next month at the Beijing Motor Show. Set to be positioned below the RX, the new NX will tackle what Lexus terms as "the growing segment of premium compact crossovers," taking on the likes of the Audi Q3, BMW X1 and Mercedes-Benz GLK.

Calgary Airport converts handicap parking to Lexus-only stalls

At the YYC Calgary International Airport, travelers found that the usual accessible parking spots (referred to handicap or disability parking here in the U.S.) near the doors had been painted over, no longer saved for the people who need them. Instead, they were reserved for Lexus drivers as part of a marketing campaign. Understandably, the airport received a complaint after a family with access needs entered the short-parking area to find the Lexus logos painted where the accessible parking had been, as CBC News reports. The airport had sold the spaces to Lexus as a way to generate revenue as part of a marketing campaign. Even worse, YYC hadn't replaced the accessible spaces yet, though Calgary Airport Authority spokesperson Jody Moseley told CBC News the airport was in the process of moving them when it started to draw attention. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The story ends well, however: The Calgary Airport Authority is converting the Lexus spaces back to accessible parking, and said in a statement of apology that the new accessible stalls meant to replace the original ones will also remain in place, so it's a net gain for disabled travelers. YYC also apologized to Lexus Canada, which it says "did not play a role in selecting, and was not aware of, the locations for the campaign." Lexus issued its own apology, saying it would "more carefully scrutinize the details of these types of marketing campaigns" in the future. Related Video: News Source: CBC News via JalopnikImage Credit: Geography Photos/Universal Images Group via Getty Images Government/Legal Lexus Luxury parking disabilities airport handicapped accessibility airport parking