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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.

Toyota, Lexus will offer low-cost automated braking system

First, a technology gets better, then it gets a lot better, then it gets less expensive, then it gets a lot less expensive. Advanced driver safety and convenience systems are about to make that last step thanks to Toyota. Centered around a pre-collision braking system, there will be three suites of driver aids known as Toyota Safety Sense C (TSS C) for compact cars, Toyota Safety Sense P (TSS P) for midsized and premium cars, and Lexus Safety System+ (LSS+) for the luxury brand. TSS C pairs a camera with laser radar to provide a pre-collision system that prompts the driver to brake if it detects an impending accident, and can supply additional braking force and automatically brake between seven and fifty miles per hour. There are also Lane Departure Alert and Automatic High Beam. TSS P pairs a camera with more precise millimeter-wave radar. Starting with the three functions in TSS C, it adds pedestrian pre-collision capability and adaptive cruise control. This one will be available first, coming on the new RAV4 Hybrid and Avalon. TSS - either C or P - will expand to three more vehicles by the end of the year. The wallop is in the price: TSS C will be a $300 option, TSS P will cost $500. Compare the Ford Fusion SE, for instance - it's Driver Assistance Package comes with Lane Departure Warning, Automatic High Beams, it has Lane Keep Assist, Blind Spot and Cross Traffic Detection that neither TSS has, but doesn't have any autonomous braking feature. It costs $1,200, but requires you to add the Technology and Luxury Packages for a total price of $3,165. If you want Autonomous Cruise Control, that's another $995, for $4,160 in total. Instead of $300 or $500 on the Toyota. Lexus' LSS+ will come first on the new RX then spread to four more models by the end of this year, and cost between $500 and $635 to add as an option. It also uses a camera and millimeter-wave radar for its vehicle and pedestrian pre-collision system, lane departure warning and lane keep assist, automatic high beam, and auto cruise control. The similar package on a BMW X5, with no pedestrian component, is $1,200. Toyota says both safety suites will eventually be on "nearly all" of it products and all trim levels by the end of 2017.

2015 Lexus RC 300h is a hardcore hybrid cherry coupe

Lexus is tag-teaming back into the hardcore coupe ring with this, the red rum RC 300h that's jumping off the top rope to "[inject] emotional appeal into the Lexus DNA." It's the hybrid version of the twin, powered by a 2.5-liter V6 aided by a 105-kW electric motor, the pair putting out 217 total horsepower and 280 pound-feet of torque through a continuously variable transmission. The RC's other, more conventional half will come with a 3.5-liter V6 with 314 hp and 380 lb-ft shifted with an eight-speed sequential transmission.
The brand doesn't want you to take this RC Coupe for a two-door version of the IS. It's based on the GS platform but its dimensions are unique, being wider, lower and shorter in wheelbase than the IS. Concept-car headlights flank the most extreme version of the spindle grille yet seen on a production car, and the lighting novelty continuing in the cabin with illumination that is aimed up instead of down. The package will ride on either 18- or 19-inch wheels.
The "high contrast," dual-zone cabin is graced with shimamoku wood and Lexus' Remote Touch Interface, and Lexus says the seats have been conceived via an "integrated foaming construction method" like racing seats - we think they look spectacular stitched up in this carmel-colored leather.