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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 launching new Crafted Line special editions at Pebble Beach

Over the course of the past 25 years, Lexus has done one heck of a job winding its way into the luxury automobile market previously dominated by the Germans. And now it aims to take another step into the luxury arena with The Crafted Line by Lexus.
Set to debut at Pebble Beach later this month, the Crafted line offers the Storm Trooper treatment with high-contrast white paint and black trim. The interiors are done up in two-tone black and red, and Tumi has done up a special set of luggage to match.
The special edition will be available on the ES350 as well as the F Sport versions of the LS460, GS350, IS250 (in both rear- and all-wheel drive) and RX350 AWD. Each will be limited to around 1,000 examples (give or take, depending on the model), with pricing set to start at around $42,000 for the ES pictured above. Scope out the full details in the press release below.

New Lexus ES will debut at Shanghai Motor Show

Lexus will debut a new version of its ES sedan at the Shanghai Motor Show later this month. Don't expect it to be a total redesign, however – with the sixth-generation ES having just gone on sale in late 2012, we only anticipate a mid-cycle refresh. That's the impression we get from the teaser image above, too. The most prominent change is the reshaping of the headlamps with an LED swoosh, the overall shape of the fascia is very similar to that of the current car. The grille looks to be a bit more angular and pronounced, perhaps indicating the inclusion of an F Sport trim – something the ES currently does not have. The ES holds a unique position in the Lexus lineup. It's the only of the automaker's sedans not to be based on rear-wheel-drive architecture – the ES uses a version of the fullsize Toyota Avalon platform. That said, the ES is hugely important, with some 1.7 million examples being sold globally over the past 25 years. We'll know more when the ES officially bows in the not-too-distant future. Related Video: THE NEW LEXUS ES TO MAKE ITS GLOBAL DEBUT AT AUTO SHANGHAI 2015 BEIJING – April 10, 2015 - The new Lexus ES luxury sedan will make its global debut at Auto Shanghai 2015 on April 20, 2015. The Lexus ES established a unique and important position in the luxury sedan segment with its elegant styling, extraordinary quality, and Lexus' best-in-class service when it was introduced in 1989. More than 1.7 million units have been sold globally over the past 25 years. The new Lexus ES maintains its classical elegance while conveying a more dynamic experience and luxurious craftsmanship. The ES will be on display April 22-29, 2015 at the Lexus booth in Hall 7.1 at the National Exhibition and Convention Center at Auto Shanghai 2015.