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Mazda and Lexus crowned with KBB 5-Year Cost To Own awards

We report on a lot of awards, some of which are given out based on more solid criteria than others. This one, the Kelley Blue Book 5-Year Cost to Own awards, seems like one that new car shoppers should pay attention to.
The cost of a car goes far beyond what you pay for the actual metal, leather and rubber at the point of purchase. Fuel, insurance, maintenance and repair costs, and the cost of fees from the state and financing will all weigh on your wallet while you own the car. That's not even taking into account the biggest cost: depreciation, or the amount of money you lose based on what your car is worth years from now versus the day you bought it.
KBB tracks these sorts of things, and they've compiled a list of winners for 2013 models. On the brand level, Mazda and Lexus earn the 5-Year Cost to Own award for having the lowest overall projected five-year totals (though, curiously, we note that Mazda and Lexus each had only one segment winner). There are lots of winners for all the various segments, so we'll just pick out a few surprising ones to share and you can view the rest here.

Lexus LC 500 gets customized at SEMA before it even goes on sale

We still have to wait until next year for Lexus to start delivering the gorgeous new LC 500 to dealer showrooms, but that little fact didn't stop Lexus from letting people modify it for SEMA. The first LC coupe to get the custom treatment is this bright yellow example modified by Gordon Ting and Beyond Marketing. Prospective LC 500 buyers who want to modify their rides won't have to wait long do start adding these parts to their cars. Because Lexus let these companies develop parts this far in advance, the parts should be available around the same time as the car. On the outside, the LC 500 gets a new Artisan Spirit body kit that consists of a front diffuser, fender flares, side skirts, rear diffuser and rear spoiler. The car also has a lower stance thanks to a kit developed by KW Suspension. It features adjustable springs for ride height, plus a hydraulic lift system to keep the custom body work from scraping. The Lexus rolls on HRE P101 wheels that are stopped by Brembo brakes. The other highlight of this custom Lexus is under the hood. The LC 500 comes with a 471-horsepower 5.0-liter V8 that's also found in the RC F and GS F. However, the engine development team at Hard Media, Inc. and D SPORT Magazine had the engine rebuilt with CP pistons and Carrillo connecting rods, and it was given new cylinder sleeves from LA Sleeves to increase bore-size. The end result is a 5.6-liter engine making 525 horsepower. According to Lexus, 525 horsepower is far from the limit of this engine, saying that its capabilities could be, and in fact "have been more than doubled." If anyone at Lexus is reading this, we don't doubt the claim, but we'd also be more than happy to see this capability proven. Perhaps at next year's SEMA show? Related Video: Featured Gallery Customized Lexus LC 500: SEMA 2016 View 9 Photos Image Credit: Live photos copyright 2016 Drew Phillips / Autoblog Aftermarket SEMA Show Lexus Coupe Luxury lexus lc 500 SEMA 2016

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.