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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 stars in new Lexus NX commercial, designs a version for Paris

Whether you love or hate its chiseled, angular lines and spindle grille, the Lexus NX is a big step for the brand as it jumps into the sea of luxury compact crossovers. We've already checked out the new CUV, and to promote its European launch, along with a different nose, Lexus has teamed up with producer and musician Will.I.Am for a commercial titled Striking Angles.
As the name suggests, the ad imagines a futuristic world where practically everything shares the NX's sharp-angled design aesthetic, including the wildlife. Over a thumping remix of his Dreamin' About the Future, the luxury CUV rolls through the misty city streets for Will.I.Am to check out.
That's not the end of Lexus' promotional efforts for its newest addition, though. The brand is also displaying a one-off NX styled by Will.I.Am during Paris Fashion Week. Read the automaker's entire release about its marketing plan for the CUV, below.

Lexus RX L coming to L.A. with 3 rows of seats

It's been nearly a year and a half since we heard Lexus would introduce a three-row RX crossover, and now it's finally materializing. The crossover will make its debut at the L.A. Auto Show with the name of RX L. Lexus will offer it with two different powertrains and individual designations for each. The basic version is the RX 350L, which we presume will use the same 3.5-liter V6 with 295 horsepower and 267 pound-feet of torque as the two-row model. The other is a hybrid called the RX 450hL. We also expect this to use the same 308-horsepower hybrid powertrain as the short RX hybrid. Toyota hasn't revealed any other details about the crossover aside from the teaser photo shown above. The full reveal happens on November 29, when we should have more photos and information. This bigger RX is an important vehicle for Lexus, too. Currently, the only way to get a Lexus with three rows of seats is to get a GX 460 or LX 570. Both of these are based on traditional, body-on-frame, V8-powered SUVs, the Land Cruiser Prado and Land Cruiser respectively. As such, they could be a turn-off for someone that wants the car-like driving and better fuel economy of the RX, but needs that extra level of practicality. The RX L bridges that gap, and could be a big sales success for the brand. Related Video: Image Credit: Lexus LA Auto Show Lexus Crossover SUV Hybrid Luxury lexus rx 2017 LA Auto Show lexus rx450h