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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.

Japanese dealer petitioning Lexus for luxury van [w/poll]

Used to be that if you wanted a luxury automobile - especially one to be chauffeured around in - your choices were basically limited to a sedan. It could be bigger or smaller, more or less expensive, depending on your needs and budget, but it was always going to have four doors and a trunk. But these days the rich and famous are looking elsewhere for their commodious forms of pampering transportation. There are, of course, the crossovers and SUVs, which only seem to be getting bigger and more expensive thanks to the likes of the Mercedes-Benz G-Class, Range Rover L and upcoming Bentley sport-ute. But luxury vans are becoming the new big thing.
That's the point that one dealer in Japan is trying to make to Toyota. The dealership owner himself reasons that if he's going out on the town, he's likely to take his chauffeured Lexus LS. But if he's taking a few friends along, even the biggest sedan isn't going to cut it. So he takes a Toyota Alphard (pictured above, also known as the Vellfire), a JDM van that's even bigger than a Voxy/Noah or Sienna but hardly a high-end affair. That's why he's asking Lexus to make a luxury van.
The idea may seem a little far-fetched, but isn't without precedent. It didn't take much for Lexus to transform the Land Cruiser into the LX and thus create its first luxury SUV. And as Mercedes has shown with pimped-out versions of the Sprinter and now with the debut of the new V-Class in Geneva, there's clearly a market for it... in some countries, anyway. The only question in our minds is how long it's going to take other luxury automakers to catch on, because let's face it: the Chrysler Town & Country ain't gonna cut it for those used to be driven around in a Maybach.

Lexus LF-FC concept is a preview of the next LS [w/video]

As far as flagship luxury sedans go, the Lexus LS is one of the oldest on the market. But the upscale Japanese automaker is out to fix that in short order. And to give us a taste of what's to come, it's presenting the concept you see here at the Tokyo Motor Show today. Called the LF-FC, the show car clearly points the way forward for the next-generation LS. The design adopts the latest take on the brand's "L-finesse" styling language, with a large, spindle-shaped front grille leading to sharp creases cutting their way across the entire surface. Lexus refers to the roofline as approaching that of a four-door coupe, though it clearly places more of an emphasis on rear-seat space. Power comes from a conceptual hydrogen fuel cell whose components have been scattered throughout the vehicle to optimize weight distribution. The fuel cell drives the rear wheels and sends power to hub motors in the front wheels as well for all-wheel-drive capability. Those 21-inch rims are made of carbon fiber, with aluminum spokes, to minimize unsprung weight. Naturally, Lexus has equipped the concept with all the latest electronic aids to track the flow of traffic and even drive autonomously through it. Of course a vehicle like this is designed around the driver and occupants. The white and brown interior space features four individual bucket seats, because really, who wants to dream of riding in the middle? Interior appointments look suitably tasteful, all done in satin-finish wood and metal with white and brown leather, and would look at home on the next generation of first-class aircraft cabins. Lexus has equipped the concept with gesture control that incorporates a floating holographic image to show users where to place their hands to operate the audio and ventilation systems touchlessly. In typical concept style, the LF-FC sits wider and squatter than the production sedans at which it takes aim. More telling, however, is the overall length: at 208.7 inches, it's a few thumbs longer than even the extended version of the current Lexus LS, and a touch longer than the current long-wheelbase Mercedes S-Class, Audi A8, BMW 7 Series, Jaguar XJ, and Maserati Quattroporte. We're looking forward to seeing the production version in the form of the next LS in due course to see how it measures up against the competition, and not just in terms of size. Related Video: Lexus LF-FC Flagship Concept Revealed at the Tokyo Motor Show TOKYO (Oct.