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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.

2018 Lexus LS has a livelier look and new twin-turbo V6

When considering that the Lexus LC 500 made it to production virtually unchanged from concept form, it was reasonable to think that the LS would similarly follow suit. Especially when the LS shares the LC's GA-L platform. Unfortunately, it didn't pan out that way. It is possible to spot cues inspired by the LF-FC concept, such as the lower contour of the windows, the crease in the metal leading up to the rear wheel, and of course the lights and spindle grille. But they're overshadowed by the fact that this LS has a significant amount more girth. View 14 Photos Just because it doesn't live up to the concept doesn't mean it's a bad looking car. It's far more interesting to look at than the dated, upright LS currently on dealer lots. It also sits quite low and the wheels and tires fill the wells nicely, which gives it a road-hugging stance. There are some nifty design details, too, such as the glass that is completely flush with the pillars. View 28 Photos As already mentioned, the new body is wrapped around a stretched version of the LC's platform, and it also uses its 10-speed automatic. Surprisingly, though, the LS doesn't use the LC's powertrain. Under the hood is a completely new twin-turbocharged 3.5-liter V6 that pumps out 415 horsepower and 442 lb-ft of torque. That puts it down on power, but ahead in torque compared with the LC's V8. It's also significantly more than the previous LS' V8, and Lexus predicts it will be capable of a 0-60 mph time of 4.5 seconds with rear-wheel drive. A Lexus PR representative also said the LS is only being released with the V6. We doubt it would be hard to drop one in later though if Lexus saw demand. Inside, the LS is more interesting than the outside would suggest. The dash is clearly inspired by the LC 500, utilizing a similar gauge pod with traction control and drive mode selectors protruding from each side. The dash is also dominated by a wide, dark section that houses the 12.3-inch infotainment display. Just below that, is an attractive strip of slats that follow the contours of the dash and house the air vents. Back seat passengers also will have a pleasant environment thanks to the fact that the LS will only be available in a long wheelbase form, so leg room will never be in short supply. They also will have access to available reclining seats, ottoman, and Shiatsu massage functionality. According to a spokesman, the Japanese-style of massage function is a first for the LS.

Production Lexus NX leaks online

The first photos of the new Lexus NX crossover have leaked onto the web over a week before its official debut at the Beijing Motor Show. These pictures are pretty blurry, but there is no mistaking that they show off the Japanese luxury brand's smaller, premium CUV.
While the teaser only gave us a glimpse at its pointed strip of LED running lights and angular grille, the new image proves that the CUV is definitely not afraid of sharp edges. However, compared to the original concept, it looks almost sedate. The production version drops the knife-like side mirrors for more conventional units, and the grille appears narrower. The vertical intakes at the edges of the front are dulled slightly but still present. The NX is indeed a polarizing vehicle - we'll be interested to see it in person. After all, we've grown to like the new IS after our first, shocking reaction. We should give Lexus some credit, too, for not following the premium CUV styling herd.
Seen elsewhere, these's an exterior photo that hints at a powertrain configuration. The bumper reads NX 300h, which likely indicates that there will be a hybrid version of the CUV. This is likely the same combined 220-horsepower system with a 2.5-liter Atkinson-cycle engine and electric motor found in the IS 300h in Europe. There is no word on whether that model will be sold here. It's rumored to be offered with a new 2.0-liter turbocharged four-cylinder as well. More details about the new Lexus are expected in China later this month.