2007 Lexus Gx470 Base Sport Utility 4-door 4.7l on 2040-cars

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Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Lexus regrets not doing 3-row CUV before RC coupe [UPDATE]

UPDATE: The source clarifies that rather than planning new small cars and crossovers, Lexus intends to rely on the ones it already has in its lineup. The text below has been revised accordingly. Automakers try to give its dealers (and by extension, their customers) the vehicles they're asking for. In Lexus' case, that's come down to a sport coupe and a three-row crossover. The Japanese luxury automaker ended up prioritizing the former with the launch of the RC coupe, but in retrospect, it feels it should have gone with the seven-seater instead. This according to Toyota's North American chief Jim Lentz in speaking to Automotive News at its provisional headquarters in Plano, TX. "In hindsight, if I was making this decision 10 years ago, seeing what I see today, the three-row [crossover] probably would have been the better play to come out first," Lentz to AN. "Strategically that's a more important vehicle to have than necessarily a lower volume, higher priced image product." Crossovers and SUVs represent big business for Lexus, whose five-seat RX (pictured above) is its biggest seller. The more compact NX is off to a solid start as well, but the brand's only three-row offerings are truck-based sport-utes like the GX and LX. Even without the three-row crossover, however, Lexus has been performing admirably. Rising sales have it trailing only BMW and Mercedes in the US market for luxury automobiles. Adding a three-row crossover to target the likes of the Audi Q7 and Mercedes GL will evidently be the next top priority for Lexus, but it's not the only plan the luxury brand has for the near future. Lentz indicated that the company plans to rely on its lineup of near-luxury and entry-level luxury sedans and crossovers moving forward, but isn't interested in going after the Mercedes CLA and Audi A3. "Luxury cars cost a certain dollar amount for a reason," said Lentz. "I don't want to cheapen my cars just to offer a lease that's $20 a month less."

Toyota to pay $17.35M federal fine for delayed Lexus RX recall

This summer, we brought you news that Lexus was recalling over 150,000 RX and RX hybrid crossovers tied to its massive pedal entrapment issue. An update to that story included word from the National Highway Traffic Safety Administration that it was considering launching a federal investigation into potential delays by the automaker in notifying owners about the problem. Now comes news that parent company Toyota will pay a hefty $17.35 million in fines for delaying its recall of the 2010 Lexus RX 350 and RX 450h. According to The Detroit News, the Japanese automaker is being forced to pay the maximum fine for delaying recalls - and this isn't the first time. In fact, this is the fourth time since 2010 that Toyota has been required to do so, including paying $48.8M in civil penalties in 2010 for failing to recall vehicles in a timely manner - in three separate campaigns.
In addition to the fines, Toyota has agreed to restructure the way it handles quality control and review "safety-related issues." Though the Japanese automaker has not admitted any wrongdoing, Toyota has agreed to meet with NHTSA for six months on the matter and may extend the meetings another six months.
US Transportation Secretary Ray LaHood says he is counting on Toyota to improve its ability to address such safety issues: "With today's announcement, I expect Toyota to rigorously reinforce its commitment to adhering to the United States safety regulations," he said in a statement.