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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.

2014 Lexus GS gets eight-speed auto, other enhancements

The Lexus GS was totally redesigned for the 2013 model year, but Lexus is already tweaking its midsize luxury sedan. While a handful of small changes are being made, the big news for the 2014 model year is that rear-wheel-drive GS350 models will be getting a new eight-speed automatic transmission for improved fuel economy and performance.
Official EPA estimates have yet to be released, but Lexus expects this new transmission to return 19 miles per gallon in the city and 29 mpg on the highway - an improvement of 1 mpg highway. The GS450h still uses a continuously variable transmission, but Lexus says that it has been optimized to mimic the shift points of an eight-speed automatic. The final powertrain change made to the 2014 Lexus GS include tweaks to the GS350's engine intake and exhaust systems, which should help give the sedan a sportier feel.
Inside, Lexus has added Siri Eyes Free inside both the GS350 and GS450h, which allows drivers to use their iPhone's Siri voice assistant simply by pushing a button on the steering wheel. Other changes include a new full-color head-up display, and an available power trunk opener. A new Luxury Package adds LED fog lights, 18-inch "superchrome" wheels on the GS350 and 18-inch graphite-finish wheels on the GS450h. Interesting, the optional Lexus Night View system has been dropped.

Fast & Furious' Paul Walker checks out Lexus LFA with 30,000 miles

For most vehicles, eclipsing the 30,000-mile mark isn't much to celebrate. With modern vehicles fully capable of sailing right past the 250,000-mile line with just basic, regular maintenance, the wee 30k is as common as coffee.
But that's not the case for supercars like the Lexus LFA. The limited-production machines are more likely to be museum pieces than commuter cars. That's what makes the fact that Lexus has not one, but two LFA models with over 30,000 miles on the clock so special. Paul Walker recently met the dynamic duo out at Willow Springs Raceway.
Walker seems impressed with the two supercars after hammering around the Streets course, saying the ultra rare, high-mileage LFA examples feel as quick and sturdy as they did when the left the factory. Lexus says the cars have both only received their equal shares of regular maintenance. Catch the video of both cars on track below along with a few words from Walker.