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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:

Lexus nixes RC convertible in favor of LS-based 3-row crossover [w/poll]

When Lexus unveiled the LF-C2 concept at the LA Auto Show last week, it did two things: it previewed the direction in which the Japanese luxury automaker's design department was looking for the immediate future, and it previewed a cabrio version of the RC coupe (to replace the IS Convertible) on the other. But the latter, according to new reports, was ruled out before the concept ever took the stage. Although the prospect of a convertible version was engineered right into the RC coupe's chassis, Motor Trend reports that plans to put such a vehicle into production were met with hostility by Lexus dealers, who were offered a two-door convertible instead of the three-row crossover they've been lobbying for. As a result – and with a finite amount of development bucks on hand – Lexus is reportedly listening to its dealers, axing the RC Convertible program and proceeding instead with a seven-seat crossover. Plans to stretch the RX were reportedly ruled out, so Toyota is reportedly proceeding instead with a new model to be based on the LS sedan. The new model would take aim at the likes of the Mercedes GL, Audi Q7 and Infiniti QX60 when it arrives in three years as a 2018 model. It's not the first time we've seen Toyota listen to dealers asking for a high-end people-mover: Earlier this year, dealers in Japan asked the automaker for a luxed-out minivan, prompting it to build the Esquire van just for the Japanese Domestic Market.

2020 Lexus LC 500 Inspiration Series is a green goddess

This year's Lexus LC 500 Inspiration Series walked in fields of gold with Flare Yellow paint outside, a splash of matching Alcantara inside, and white, semi-aniline leather seats. The 2020 version of the LC 500 Inspiration Series takes to emerald seas with exclusive Nori Green Pearl paint — nori being the edible seaweed that tries to make an honest living wrapping sushi or onigiri. This time the two-tone interior doesn't take its cue from the outside, opting for tan and amber contrasts. Lexus says the aesthetic game of dress-up "aims to evoke a more refined, mature coupe," even though we're certain two of the LC 500's most profound attributes are refinement and maturity. Semi-aniline 10-way adjustable seats are stitched up in Saddle Tan leather exclusive to this model, paired with slightly darker Alcantara trim on the door panels. The instrument panel, center console, steering wheel, and the rest of the doors are fitted with Black Amber leather. Brown cross-stitching not only cues the color of the seats, its visibility should earn appreciation for "highlighting the fanatical precision of each stitch." As with the 2019 model, the special 2020 LC 500 will be limited to 100 units in the U.S. A custom, laser-cut sill plate that evokes the geometric shapes found in the taillights will inform everyone crossing the threshold of the coupe's rarity. The package sits on two-tone, 21-inch wheels. The powertrain hasn't been touched, motivation provided by the naturally aspirated 5.0-liter V8 with 471 horsepower shifting through a 10-speed automatic. Lexus says it will release price information closer to the on-sale date later this year. A standard LC 500 costs $92,950 before destination; the 2019 LC 500 Inspiration Series asked $106,210 before destination, so don't expect much change from $110,000 if you're interested.