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Lexus LC convertible could appear in 18 months, LC F to follow

Auto Express reports that Lexus has a approved a convertible version of the LC, and is close to green-lighting a high-performance LC F trim. The Detroit Bureau reported that the same two models were in development one year ago, citing Lexus sources at the Detroit Auto Show who told the outlet "a number of additional variants" would follow the coupe's launch. The timeline's been stretched a bit between then and now; instead of getting the convertible this year, Auto Express says the "done deal" droptop should arrive in 18 months to two years. It's harder to read what we might get in an LC F. Gossip is that the naturally aspirated, 467-horsepower, 5.0-liter V8 wouldn't be the right motor for a hot LC. That V8 serves in lower-tier F models. so word is that Lexus engineers are considering a 4.0-liter, twin-turbo V8 with around 600 hp. Lexus chose the BMW 650i, Mercedes-Benz S-class coupe, and Jaguar F-Type as competitors to the LC, all of which have convertibles and high-performance trims. Among the specially-tuned challengers, the Jaguar F-Type R comes in with the lowest power figure at 550 hp. Both models would return Lexus to a small, exclusive end of the market where it hasn't held a membership since 2010. Rejoining that soiree — a party hosted by the Germans, because these matters always come back to the Germans — is another huge, and costly, step toward shedding Lexus' somnolent image. Akio Toyoda said the goal for his luxury arm was "that the words 'Lexus' and 'boring' never appear in the same sentence again." A three-model lineup would give the LC a genuine chance to contribute to that aim. Related Video: Featured Gallery 2018 Lexus LC 500 First Drive View 44 Photos News Source: Auto Express Rumormill Lexus Convertible Coupe Luxury Performance lexus lc 500

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 investing $750M, adding 600 jobs at 5 U.S. plants

BUFFALO, W.Va. — Toyota on Thursday announced it is investing an additional $750 million at five U.S. plants that will bring nearly 600 new jobs, including the production of two hybrid vehicles for the first time at its Kentucky facility. It marks yet another expansion of the Japanese automaker's U.S. presence, bringing to nearly $13 billion the amount it will spend by 2021. The latest investments are at facilities in Alabama, Kentucky, Missouri, Tennessee and West Virginia. Those same facilities were part of a 2017 announcement by Toyota for a $374 million investment to support production of its first American-made hybrid powertrain. Toyota Motor North America CEO Jim Lentz said the latest investments "represent even more examples of our long-term commitment to build where we sell. By boosting our U.S. manufacturing footprint, we can better serve our customers and dealers and position our manufacturing plants for future success with more domestic capacity." Toyota's Georgetown, Kentucky, facility will get a $238 million infusion to produce hybrid versions of Lexus ES 300 sedans starting in May and the Rav4 SUV starting in January 2020, the company announced. It also includes $288 million to increase annual engine capacity at Toyota's Huntsville, Alabama, facility. The plant will add 450 jobs to accommodate new four-cylinder and V6 engine production lines. Last year Toyota and Mazda announced plans to build a $1.6 billion joint-venture plant in Huntsville that will eventually employ about 4,000 people. Toyota also is spending $62 million on equipment to boost production of Toyota and Lexus cylinder heads at its Bodine Aluminum facility in Troy, Missouri, as part of its cost-saving New Global Architecture production strategy to share common parts and components among different vehicles. A $50 million expansion and equipment upgrade at its Bodine plant in Jackson, Tennessee, will add 13 jobs and produce engine blocks while doubling the capacity of hybrid transaxle cases and housings. And Toyota will add 123 jobs and spent $111 million to expand its plant and purchase equipment in Buffalo, West Virginia, to double the capacity of hybrid transaxles. Previously, Toyota also announced a $600 million investment at its Princeton, Indiana, plant to increase the capacity of its Highlander SUV and to incorporate the new production strategy, and $170 million to launch the 2020 Corolla on a new production line in Blue Springs, Mississippi.