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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.

Stand out in the parking lot | 2017 Lexus NX 200t F-Sport Quick Spin

Timing is a funny thing. As I'm writing this mini-review of the Lexus NX 200t, which has been out for several years and used the brand's first turbocharged engine in America, a newly-revised NX just debuted in China. It doesn't have much bearing on my thoughts about the CUV, but it does go to show the growing importance of China for luxury manufacturers like Lexus and Mercedes-Benz. It's been almost three years since we drove the NX 200t for the first time. Back then, our reviewer was impressed by how different it felt from the RAV4 – the two vehicles share a platform, although Lexus claims 90 percent of the NX is distinct from its Toyota cousin. The biggest differences are styling and, more important, the powertrain. With turbocharging going very mainstream in the intervening years, how does the NX200t hold up? I spent a week in an F-Sport trim in a striking orange color to find out for myself. It took a little while for me to warm up to the powertrain. Even in Sport mode, things seem ... well, they seem a little sluggish. The NX has a funny way of expressing its slightly more than adequate horsepower and torque by requiring a hefty punt to spool up the turbo and get things moving along. Normal drive mode could pass for an economy setting. Back in 2014 when this thing was new, it was clear that the RAV4 connection doesn't matter as much as we, as enthusiasts, would think. It's easy for us to fixate on what vehicle is related to what platform, and which way its engine sits. And that's good! We need to do that. But Lexus determined that they didn't need it to sit on a rear-drive sportscar platform because of course not! It's a little crossover. From a packaging standpoint, that'd be idiotic, and from a marketing standpoint likewise. Not to say that buyers of the NX 200t aren't discerning. But I think their priorities and desires probably align with what Lexus decided to produce. This is good and proper. Also, it beats the heck out of a RAV4. I love the seats. Every body is different, sure. But these seats are completely spot on for what my body needs. They're sporty-looking without resorting to immense bolsters that pinch the torso, and they're very supportive. I wouldn't say they're the best seat's I've tried out of the hundreds of cars I've driven over the years, but they're probably the best small crossover seats I can recall. To put it in different terms, on some long road trips you need to stop just to stretch – that's not the case here.

Lexus to reveal production NX crossover at Beijing in April

At the Frankfurt Motor Show last year, Lexus rolled out a concept crossover called the LF-NX. It then brought it back, with a new paint job and a turbocharged engine, at the Tokyo Motor Show a few months later. We got another glimpse a couple of months after that during a presentation from Jim Lentz. But now Toyota has confirmed that the finalized production version is just around the corner.
While all the attention is affixed on the Geneva Motor Show, Toyota released a statement (which you can read below) announcing that the NX (as it will officially be known) will debut next month at the Beijing Motor Show. Set to be positioned below the RX, the new NX will tackle what Lexus terms as "the growing segment of premium compact crossovers," taking on the likes of the Audi Q3, BMW X1 and Mercedes-Benz GLK.