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China fines Toyota $12.5 million over Lexus price-fixing

BEIJING — China's market regulator on Friday has fined Japanese carmaker Toyota Motor 87.6 million yuan ($12.5 million) for price-fixing on its premium Lexus cars in eastern Jiangsu province, according to a document on its website. The decision comes as China steps up regulation over auto sales in the world's biggest vehicle market, where more than 28 million cars were sold last year. The anti-monopoly bureau of State Administration for Market Regulation said that between 2015 and 2018, the Japanese carmaker set a minimum sales and resale price for its cars in coastal Jiangsu province, which deprived dealers of pricing autonomy and harmed customers' rights. Lexus also fixed sales strategies in the region over the period, including offering customers discounts while asking them to purchase accessories at fixed prices, a sales tactic usual among individual auto dealers in China but frowned upon for carmakers. A spokesman at Toyota, Lexus' parent firm, told Reuters the firm acknowledged the penalty and respects the decision. He did not comment further. China's auto sales are declining, but Lexus' sales keep growing. It sold 180,200 vehicles in the first 11 months this year, a 21% jump from a year earlier. In June, China's market regulator imposed an 162.8 million yuan fine on Ford Motor Co's joint venture with Changan Automobile Group for violating anti-monopoly law. ($1 = 6.9927 Chinese yuan renminbi) Reporting by Yilei Sun and Norihiko Shirouzu. Related Video:

2018 Lexus LS First Drive | Luxury, performance and the puzzling parts

When one imagines the enormous executive sedan that might be driven by a wealthy lawyer or banker (or their chauffeur), the mind naturally goes to the Mercedes S-Class or the BMW 7-Series. Venerable, enormous and expensive. But for those wanting to keep their driveway a little more understated, we also have the Lexus LS. Sure, it's not as ostentatious as the big saloons from Munich and Stuttgart, but it has a dignified elegance all its own. For nearly three decades, the LS has been a discrete and dependable Japanese luxury sedan. The new 2018 LS, perhaps thankfully, is a bit less discrete. We saw the new-look LS when it was introduced earlier this year in Detroit. Now we know how it drives. We put the 2018 LS through its paces on the traffic-clogged streets of San Francisco and over the Golden Gate Bridge to the twisty B-roads around Marin County and the legendary Skywalker Ranch, where we stopped for lunch. Unfortunately, all in attendance were sworn to secrecy about the details of Skywalker Ranch, but we're free to tell you all about the LS. Here's our one-sentence summary, which can be used to describe many cars to bear the Lexus badge: It's excellent in many respects, odd in a few, and incredibly, massively frustrating in one very important area. Lexus has a brand new 3.5-liter twin-turbocharged V6 paired with a 10-speed automatic transmission, a first for a premium passenger car. It produces 416 horsepower and 442 pound-feet of torque, up from 386 hp and 367 lb-ft from the outgoing naturally aspirated 4.6-liter V8. Lexus engineers are extremely proud of the fuel efficiency of the new engine, which required some clever technical innovations (a longer bore stroke and increased valve angle) as well as tech borrowed from Formula One, including a "laser clad valve seat" that allows for a more direct flow of air into the combustion chamber and a high "tumble ratio." In other words, Lexus figured out how to get more bang out of each gasoline-powered buck. Fuel economy numbers are 19 city, 29 highway, and 23 combined for the RWD version and 18/27/21 for AWD, with the highway numbers particularly helped along by the 10-speed gearbox. It's a torque converter unit, but Lexus promises shift times that rival its dual-clutch-wielding competitors. The LS is no slouch, either. In RWD trim, the nearly 5,000-pound car hustles from 0-60 mph in 4.6 seconds, according to Lexus' reckoning.

Autoblog Podcast #318

Toyota back on top, Barrett Jackson, Crowdsourcing your Dodge Dart payments, Nissan and Toyota double down on pickups
Episode #318 of the Autoblog Podcast is here, and this week, Dan Roth, Zach Bowman and Michael Harley talk about Toyota regaining the No. 1 sales crown, getting your friends and family to buy you a Dodge Dart, Barrett-Jackson, and Toyota and Nissan remaining committed to their pickup trucs. We wrap with your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Keep reading for our Q&A module for you to scroll through and follow along, too. Thanks for listening!
Autoblog Podcast #318: