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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.

Will.i.am and Lexus make music on a runway with frickin' lasers

There's no doubt that an engine can make some fabulous sounds, but they don't technically fit the definition of music. In a spectacular recent stunt from Lexus, Will.i.am, and a huge team of technicians, a trio of NX CUVs actually became an instrument while driving down a runway to play the artist's song #thatPOWER. All that was necessary to get it done was the help of a whole lot of lasers and some very precise driving. The team rigged up 350 audio-sensitive lasers and lights to make this stunt possible, and it essentially turned the runway into a real-world version of the Rock Band video game interface. The three NXs needed to drive not only in the right location but also at the right speed to keep the song's tempo going. While what you see here was reportedly shot in just one night, setting everything up took 65 people over seven days. The awesomely named light artists, Marshmallow Laser Feast, designed the actual layout. The end result of all of the hard work definitely looks impressive in this video, but it also appears like this was a very difficult stunt to actually get right. A lot of the faces at the end of the clip were wearing a look of relief of finally doing things successfully. will.i.am AND LEXUS CREATE LASER AND SOUND SPECTACULAR ON EPIC STREET 'STAVE' FRONTMAN CHALLENGED TO NAVIGATE GIANT VISUAL INSTRUMENT IN ALL NEW LEXUS NX Brussels 30th July 2015 - #NXontrack - Lexus Europe, today unveiled an innovative audio-visual film which sees global entrepreneur and musician, will.i.am challenged to create a remix of one of his most iconic tracks, #thatPOWER in a breath-taking music, art and technology spectacular. . Played out on a disused runway lined with more than 350 projected mapped motion and audio sensitive lasers and lights, the front-man battles against speed and rhythm to conduct and navigate a trio of striking Lexus NXs', hitting the laser 'targets' at the correct tempo to synchronise with his smash hit. The unprecedented live event, shot in one night last week, sees the musician's skills put to the test as he joins three stunt drivers including 2013 Blockbuster, Rush frontman, Niki Faulkner, to take on the colossal 'sound-road', race against rhythm and successfully complete the challenge in the limited hours of darkness available before the sun rises. Speaking about the video, will.i.am said: "Working with the stunt guys to hit the laser targets in time with the music wasn't easy to get right but the result was awesome.

Volvo, Kia and BYD duke it out in the finals for World Car of 2024

Three electric vehicles — none produced by an American manufacturer — will compete next month for the title of 2024 World Car of the Year, it was announced Monday. The finalists are the Kia EV9, the Volvo EX30 and the BYD Seal (shown above). The latter two are built in China. The three top finalists in five other categories were also named at the Geneva Motor Show in Switzerland. The winners in all six categories will be revealed live during an awards ceremony at the New York International Auto Show on March 27. This year marks the 20th year of the World Car Awards and the partnership with the New York show. Besides car of the year, the other finalists are: Electric vehicle: BMW i5, Kia EV9, Volvo EX30; Luxury car: BMW 5 Series/i5, Mercedes Benz E-Class, Mercedes Benz EQE SUV; Performance car: BMW M2, BMW XM, Hyundai Ionia 5 N; Urban car: BYD Dolphin, Lexus LBX, Volvo EX30; World Car Design: Ford Bronco, Ferrari Purosangue, Toyota Prius. Only Ford among U.S. companies has an entry in the final selections, and only in one category, design, for the Bronco. BMW has four vehicles in the finals, Volvo has three, Kia and Mercedes have two each. BYD from China has two entries as well. The Seal went on sale in in its home market in 2022 and is now available in most of the rest of the world. The BYD Co. (which stands for Build Your Dreams) has surpassed Tesla to become the worldÂ’s biggest maker of electric vehicles, and has its sights set on the U.S. The selection process for World Cars involves 100-plus automotive journalists from 29 countries who vote, as they review and test-drive the eligible vehicles for the 2024 awards. Their journey is captured virtually on World Car TV. Design/Style Geneva Motor Show BMW Ferrari Ford Hyundai Kia Lexus Mercedes-Benz Toyota Volvo Best Cars World Car of the Year