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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.

The 2016 Lexus RX is more of everything [w/video]

Both literally and symbolically, the RX is Lexus. The crossover accounts for more than a third of the brand's overall sales. Last year Lexus moved 107,490 RX 350s, almost as much as every BMW SUV combined. The first-generation RX 300 was such a hit it forced other luxury automakers to follow suit. And the outgoing third-gen model epitomizes the current challenge Lexus faces: it's comfortable, but boring – exactly like the reputation the brand wants to shed. The new 2016 Lexus RX, then, is the Lexus weathervane. In short: more style, space, and technology while retaining the plushness that keeps current owners happy. As is current Lexus tradition, the RX gets a massive spindle grille. And while there are more creases and character lines than before, the overall styling is softer than the angular NX. The conservative approach shows that Lexus took a cautious approach to its cash cow, while using lower-volume models like the RC coupe to push boundaries. Still, Lexus has made an honest attempt at sporting up the RX. The RX 350 retains the 3.5-liter V6 but gets a 30-horsepower boost to 300 hp, and the RX 450h now makes 300 ponies as well. In all-wheel-drive guise, both models can be had in F Sport trim, which brings exterior tweaks like 20-inch wheels and a unique instrument cluster. F Sport models also include an active stabilizer system to minimize roll in corners. All RX models also come with dampers and steering that automatically adjust to the driving situation. Inside, the new RX is loaded up with features, like a standard 12.3-inch infotainment screen and an optional color head-up display. A list of electronic safety features is too long to mention, but includes collision mitigation, lane-keeping assist, and automatic high beams. See the press release below for the full rundown, or just trust us when we say you can get the RX with almost every driving aid out there. The rear seats now feature a power-fold feature, and when the seats are up second row passengers are treated to more leg- and knee-room. That extra interior space comes from an overall stretching of the RX. Wheelbase grows 1.9 inches, while length is up almost five inches. What the new RX doesn't yet have, but we're told is on the way, is a third row of seats. The added versatility of a seven-passenger version should broaden the appeal of the RX to a wider audience. Expect to see the RX 350 and RX 450h in showrooms by the end of the year, with the three-row version coming sometime in 2016.

Construction of Lexus' first US assembly line underway

The ES is Lexus' top-selling sedan, but the Japanese luxury marque has never manufactured it outside of Japan. In fact, Lexus has never made any cars in the United States, one of its largest markets worldwide. But that's about to change.
Yesterday, construction began in Georgetown, Kentucky, on the first Lexus assembly line in America, the first concrete (or steel) step in a $360-million expansion of Toyota's plant in the Bluegrass state that will create 750 new jobs. The expansion was announced last April by chief executive Akio Toyoda at the New York Auto Show.
Once the new assembly line gets online in the fall of next year, Toyota plans on building some 50,000 units of the ES each year. Lexus sold a record 72,581 examples of the ES in the United States last year - 30 percent more than the previous year - so Lexus will either have to import some more from overseas or leave some buyers disappointed.