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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.

Lexus launches supercharged LX 570 in Middle East

The Lexus LX SUV is a very muscular, old-school vehicle. Based on the Toyota Land Cruiser, it's still a big, body-on-frame SUV, but inside it offers acres of leather and luxury tech. The brand's Kuwaiti distributor is taking it machismo even further for the local market with the new LX 570 Supercharger.
As the name suggests, the upgraded SUV grafts a supercharger onto the LX 570's 5.7-liter V8 to boost it to 450 horsepower, from 383 hp in the naturally aspirated version in the US (or 362 hp in the standard Kuwaiti version), and it uses the same six-speed automatic as the standard model. To signal the improved strength, much of exterior chrome is replaced with black trim. It also wears special 20-inch wheels and a rear spoiler. The interior is fitted with crimson leather seats and red-accented carpet. It also gets an aluminum sill plate that says "Supercharger." Like the standard Kuwait-spec LX 570, it has two fuel tanks with a total combined capacity of 36.46 gallons, which should help satiate the likely thirsty, forced-induction V8.
The LX 570 Supercharger won't be rumbling down streets outside of the Middle East, though. According to Lexus spokesperson Bill Kwong, this is a project by the distributor in the region. The supercharged engine also has "issues with emissions" in the US, especially in California, he told Autoblog. Too bad, it would be an interesting Range Rover alternative.

2016 Lexus IS gets revised engine lineup

Look, the old Lexus IS 250 sucked. With a slow, heavy, underpowered, thirsty, 2.5-liter V6 under hood, our own managing editor, Steven Ewing, dubbed it Jennifer Slowpez in his review. While we celebrate its death, we're raising our glass towards a far smarter lineup for Lexus' entry level sedan. As previously reported, the new rear-drive-only IS 200t steps in at the bottom of the range. You can read all about it in our original post from late last month. Today's news focuses on the V6. While the 3.5-liter V6 from the IS 350 will soldier on unchanged, Lexus is adding a detuned variant of Toyota's popular six-cylinder to create the IS 300 AWD. Where the IS 350 pumps out 306 horsepower and 277 pound-feet of torque, the all-wheel-drive-only IS 300 comes to party with a more relaxed 255 hp and 236 lb-ft of torque. That's still a hell of a lot more power than the old IS 250 AWD, which offered just 204 hp and 185 lb-ft of torque. So, there we have it – IS 200t, IS 300 AWD, IS 350, and IS 350 AWD. And of course, Lexus' performance minded F Sport package is available regardless of engine, giving owners a sharper and more stylish character for their sedan. You can check out the nitty gritty details on Lexus' rejiggering of the IS range below. Lexus IS Sport Sedan Gets Revved Up In 2016 With Three Available Engines 2.0L Twin-Scroll Turbocharged Gas Engine for New IS 200t New 3.5L V6 Engine Provides More Options for All-Weather Drive with IS 300 AWD Agile Handling Throughout IS Lineup Available F SPORT Package Heightens Driving Experience July 24, 2015 2016 Lexus IS Sedan Product Information The Lexus IS luxury sport sedan models will continue to delight drivers with their balance of luxury, agility and sportiness as they enter 2016 model year with a three model strategy with IS 200t, IS 300 AWD, and IS 350. The former IS 250 and IS 250 AWD are discontinued. The IS adds to its stable of engines and receives a turbocharged gas engine, bringing the number of engine alternatives to three. Drivers will have a hard time deciding which IS to take home with rear-wheel drive (RWD), all-weather drive (AWD) and F SPORT variants. The new IS 200t, available as RWD only, features a 2.0-liter twin-scroll turbocharged inline four-cylinder engine with intercooler paired to an eight-speed automatic transmission. This engine cranks out 241 hp and has 258 lb.-ft. torque at 1,650-4,400 rpm.