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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.

2016 Civic, Sonata, Lexus RX, and Altima earn TSP+ from IIHS [w/videos]

The 2016 Honda Civic sedan, Hyundai Sonata, Lexus RX, and Nissan Altima started the year with a bang by earning Top Safety Pick+ honors from the Insurance Institute for Highway Safety. They join 48 other 2016 model year vehicles that IIHS already tested that received the agency's top safety marks. These four models met the IIHS' latest requirement, scoring the agency's best possible score in all five of its crash tests – front, side, rear, rollover, and the difficult small-overlap – to be eligible for the safety accolade. Hyundai improved the 2016 Sonata's structure after the sedan's production began, so this rating only applied to examples produced after October. To get the TSP+ honor, a vehicle's crash prevention tech needs to earn least two points on the IIHS' scale. The lower Top Safety Pick designation can go to model with a "basic" version of these systems like a front collision warning. The Civic, Sonata, and RX scored the maximum six points to get "superior" scores for their optional crash prevention tech because they avoided collisions at up to 25 miles per hour. The Altima was successful in a 12-mph test, but the system slowed the sedan by 10 mph in the 25-mph test rather than completely stopping it. Therefore, the agency awarded the Nissan five points, which was still a "superior" score. You can watch the small-overlap tests for the Civic, RX, Altima, and Sonata respectively below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Four more vehicles earn the 2016 TOP SAFETY PICK+ award ARLINGTON, Va. — The Honda Civic 4-door, Hyundai Sonata, Lexus RX and Nissan Altima are the latest vehicles to earn the top award from the Insurance Institute for Highway Safety. The four vehicles join the 2016 winner's circle just one month after the initial crop of 48 TOP SAFETY PICK+ winners was announced. The requirements for TOP SAFETY PICK+ were tightened for 2016. To qualify, winners must earn good ratings in each of the Institute's five crashworthiness tests and have an available front crash prevention system earning an advanced or superior rating.

2016 Lexus RX teased ahead of NYC show

The Lexus RX is one of the big players in the luxury crossover field, and the Japanese brand is giving us the first, shadowy look at the upcoming fourth-generation model. It debuts in just a few weeks on April 1 at the 2015 New York Auto Show. Lexus doesn't reveal anything technical about the plush CUV in its teaser, but the model does show off some interesting styling in the accompanying photo. In this shot, the rear pillar appears to incorporate the side window's glass into its shape in an intriguing way. You can also get a good look at the RX's wraparound taillights. Spy shots indicate the frontal design softens some of the ideas from the smaller NX, but the big, spindle grille and squinting headlights remain. The fourth-gen RX also reportedly uses aluminum for some body panels to shed weight. We expect to get the full scoop about it in New York. Related Video: 2016 Lexus RX To Make Its Global Debut Under the Bright Lights of the Big Apple: 2015 NYIAS March 20, 2015 TORRANCE, Calif. – March. 20, 2015 – Lexus will introduce the all-new 2016 RX at the 2015 New York International Auto Show. When the RX model launched 17 years ago, it defined a new luxury segment. Since then, it has dominated mid-size luxury utility vehicle sales. The fourth generation RX will make its global debut at a press conference in the Galleria at Jacob Javits Convention Center on Wednesday, April 1 at 9:10 a.m. EDT. The press conference will also be streamed live at https://new.livestream.com/LexusInternational/NY-2015. ###