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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.

2015 Lexus RC F leaked out ahead of upcoming debut?

Lexus has had a somewhat volatile relationship with coupes. The first-gen SC gave way to the bloated second-gen convertible, which itself went out of production three years ago. The LFA arrived the same year the SC departed, but awesome as it was, it's six-figure price tag and limited production put it well out of reach even for the brand's typical upscale customers. That left only the IS Convertible to hold down the two-door end of the lineup, but Lexus is keen to fill that void with the arrival of the upcoming RC.
Oft been spied and speculated, the RC has reportedly leaked out from Japan's Best Car magazine in tantalizing RC F spec - although with the increasing quality of renderings (and the graininess of the photos in question), we could be looking at an artist's impression. That will upgrade the base coupe's anticipated 3.5-liter V6 and 306 horsepower with a 5.0-liter V8 churning out 455 hp, along with more aggressive styling previewed by the LF-CC concept.
Signs point toward the RC serving as the coupe counterpart to the IS, while the IS Convertible is expected to carry on (either in current or facelifted form) on the outgoing model's platform. Look for a reveal at either the Tokyo Motor Show in November or the Detroit Auto Show in December.

Lexus talks LFA successor

Did you just miss out on purchasing one of the 500 Lexus LFA supercars built between 2010 and 2012? "No big deal," you're probably thinking, "I'll just wait until the next time Lexus builds a supercar." Well, we're afraid that you'll be waiting quite a long time. And by long time, we mean about 30 years.
That's according to a report from Bloomberg, which indicates that yes, Lexus is looking at a follow-up to the V10-powered, carbon-fiber-bodied LFA.
"Akio [Toyoda] believes that every generation deserves to have a car like an LFA, so we're building an LFA for the generation we have today," Lexus Executive Vice President Mark Templin told Bloomberg. "At some point, there may be another special car for another generation."