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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.

2015 Lexus RC 350

Luxury coupes like this new, 2015 Lexus RC 350 have got, to my mind, a more challenging mission than their all-out-performance variants; in this case, the recently reviewed RC F.
That's not to say that I think actual owners and shoppers of cars like the RC F, BMW M4 and Cadillac CTS-V Coupe only care about output figures and lap times. In fact I'd say that those are outliers in terms of how they get used most often. But the story that we reviewers tell - and that shoppers in the ego-boosted segment tell themselves before they pull the trigger - have a lot to do with what the car is capable of on the edge of its envelope.
Mainstream coupes can't rely on that kind of irrational pull, however, at least outside of the emotional world of styling persuasion. For a buyer to drop more than $40,000 on the RC 350, he or she will want tons of features, comfort, good looks, and, yes, a dash of sportiness to spice of the pot. Reason and desire seem a lot more balanced here. That's great news for Lexus, with its history of creating sensible luxury cars and a pretty composed luxury coupe in this new RC.

Lexus RC media event in Japan canceled over lack of interest

It's a good thing senior editor Seyth Miersma doesn't live in Japan, or he wouldn't have been able to snap a photo like the one you see here, of a fresh-off-the-line Lexus RC F on hand at a first drive for media. That's because Toyota's Japanese arm has outright canceled its RC press launch. Sure, we've heard about events being delayed, but canceled? That's rare. Even worse is the reason: according to Automotive News, the event was nixed due to lack of interest. Wow.
In an email to media, Lexus said the event "has been canceled due to insufficient attendance," according to AN. The News posits that perhaps it would have just been better to hold the event anyway, in an attempt to save face, and that this is another example of the Japanese culture (especially youth) becoming less and less interested in cars. Of course, there's also the thought that local media just didn't want to drive out to Yokohama to drive the RC on a not-so-sexy press launch, which, if you ask us, is an incredibly lame excuse (do your jobs, folks!).
Either way, will this bode well for the Lexus RC's public launch? Will it receive the same lukewarm response when it arrives at Japanese dealers? We'll see.