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Unintended acceleration settlement hits Toyota's Q4 bottom line

Depending on how you want to look at things, the US Attorney's Office $1.2-billion dollar settlement with Toyota in March over its unintended acceleration recall was either a big blow to the company or completely inconsequential. From January to March, net income fell five percent to 297 billion yen ($2.89 billion), compared to 313.9 billion yen ($3.05 billion) a year ago. However, the automaker still posted record full-year profits worldwide.
Operating profit also fell in the US by 9 percent to $498.1 million for the quarter, but sales were up by 6 percent to 581,261 vehicles. According to Automotive News, global revenue was still up from January to March by about 13 percent and vehicle sales were up 6 percent to 2.58 million units.
However, the payment to the feds did little to hold the company back last year. For the fiscal year ending March 31, 2014, Toyota had net income of 1.82 trillion yen ($17.7 billion), compared to 962.1 billion yen ($9.5 billion) in the last fiscal year. Total vehicle sales were also up.

Detroit 3 to implement delayed unified towing standards for 2015

Car buyers have a responsibility to be well-informed consumers. That's not always a very simple task, but some guidelines are self-evident. If you live in a very snowy climate, you generally know a Ford Mustang or Chevrolet Camaro might not be as viable a vehicle choice as an all-wheel drive Explorer or Traverse, for example. If you want a fuel-efficient car, it's generally a good idea to know the difference between a diesel and a hybrid. But what if it's kind of tough to be an informed consumer? What if the information you need is more difficult to come by, or worse, based on different standards for each vehicle? Well, in that case, you might be a truck shopper. For years, customers of light-duty pickups have had to suffer through different ratings of towing capacities for each brand. For 2015 model year trucks, though, that will no longer be a problem. According to Automotive News, General Motors, Ford and Chrysler Group have announced that starting with next year's models, a common standard will be used to measure towing capacity. The Detroit Three will join Toyota, which adopted the Society of Automotive Engineers' so-called SAE J2807 standards way back in 2011. The standard was originally supposed to be in place for MY2013, but concerns that it would lower the overall stated capacity for trucks led Detroit automakers to pass. Ford originally passed, claiming it'd wait until its new F-150 was launched to adopt the new standards, leading GM and Ram to follow suit. Nissan, meanwhile, has said it will adopt the new standards as its vehicles are updated, meaning the company's next-generation Titan should adhere to the same tow ratings as its competitors. While the adoption of SAE J2807 will be helpful for light-duty customers, those interested in bigger trucks will still be left with differing standards. There is no sign of the new tow standards being adopted for the heavy-duty market.

2022 Lexus LX 600 First Drive | A substantial, stylish soft-roader

The Toyota Land Cruiser is dead. Long live the Toyota Land Cruiser 2022 Lexus LX 600 — the flagship SUV brought kicking and screaming into the 21st century with a much-needed overhaul. Back with a new powertrain, new shell and new possibilities, the LX is aimed at the top of the luxury SUV segment, taking the fight back to the likes of the Cadillac Escalade and Mercedes-Benz GLS. The Land Cruiser isn't truly dead, mind you; we just don't get it here in the U.S. — at least not yet. Fortunately, much of that new SUVÂ’s engineering lurks beneath the LXÂ’s skin. The new twin-turbo V6, for example, provides 409 horsepower and 479 pound-feet of torque and serves here as a baseline V8 replacement; it's paired to Toyota's new 10-speed automatic. The hybrid engine offered in the new Toyota Tundra and Sequoia is rumored to be on the way to the LX in the coming model years.  But while the Land Cruiser is traditionally known for its off-road prowess, the LX we tested was most definitely not. In place of a robust 4x4 system with locking front and rear axles intended to conquer unexplored terrain, we got a Torsen limited-slip differential, an F Sport suspension with performance dampers, and massive 22-inch wheels. Sure, the center differential lock and LSD will get you just about anywhere you could possibly need to go, even on dirt, but that's not the F Sport's intended use case. ThatÂ’s not to say the LX 600 canÂ’t hang when it comes to typical SUV duties. ItÂ’s nearly 17 feet long and equipped with a fold-flat third row, but it's also essentially a foot shorter than a standard Escalade. That partly explains why that third row is basically utility seating as opposed to consistent family transport. It also offers reasonable headroom at the expense of cargo space – just about all of it, in fact. If you really need to use the third row and bring some stuff along, you can always rent a trailer; itÂ’ll tow 8,000 pounds. Fortunately, the standard full-time 4WD and limited-slip differential donÂ’t need to be paired to the LXÂ’s off-road Crawl Mode to be worthwhile. Though our loanerÂ’s huge 22-inch wheels were wrapped in all-season rubber, the LX handled typical Michigan winter garbage with aplomb. Fresh snowfall was limited during the week we had the truck, but there was plenty of leftover, inches-deep crust and slush in the suburbs north of Detroit where we took the LX out to play. Competent though it may be over the rough stuff, comfortable it is not.