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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.

2021 Lexus LC gets modest updates including less weight, new colors

The Lexus LC is already one of our favorite cars, and the 2021 Lexus LC aims to be even a little better. The luxury automaker has made a number of minor changes to the suspension, infotainment and color schemes. Starting under the skin, Lexus found some weight savings in the wheels and suspension. In fact, the new LC has 22 fewer pounds of unsprung weight thanks to lighter rear wheels, aluminum lower control arms, high-strength steel springs, and tubular anti-roll bars rather than solid ones. Lexus says that these improvements along with retuned shocks should give the new LC a softer, smoother ride. That's not all, as Lexus is now including its Active Cornering Assist technology to the stability control system, which brakes the inside wheels in turns to improve cornering ability. Lexus also adjusted the shift logic for the transmissions in both the V8 LC 500 and hybrid LC 500h to be smoother and more responsive. Users of Android phones will also be pleased to know that Android Auto will be standard equipment on the 2021 LC. Apple CarPlay and Amazon Alexa integration will also continue to be standard. So however you like to interact with your phone and media, you'll be covered. There are a few color updates, too. Cadmium Orange and Nori Green Pearl have been added as exterior colors. The latter you may remember from the limited edition 2020 Lexus Inspiration Series model. Inside, black and tan interiors stick around, while the Rioja Red option is replaced by Flare Red. Sadly, the Bespoke White interior, which featured indigo and orange leather and suede has been discontinued. Pricing and availability for the 2021 Lexus LC has not yet been announced.

Production Lexus NX leaked in Jim Lentz presentation?

Before kicking off the Detroit Auto Show, the Society of Automotive Analysts had Toyota CEO Jim Lentz come on stage to say some words about the future of the auto industry, as well as what's coming for Toyota. While this type of information would normally stay off our radar, a video of his speech likely gives us our first look - albeit low-res - at the production version of the Lexus NX compact crossover.
In the video recorded by AmericaJR, Lentz refers to the turbocharged LF-NX Concept that was on display at the Tokyo Motor Show, but comparing this image to our gallery from Tokyo, there are clear differences between the two vehicles. These include the toned-down shape of the spindle grille, lower fascia crease and door mirrors as well as a headlight design that more closely resembles that of the 2014 IS sedan and the newly introduced RC coupe. From what we can see of the rest of this image, the NX should retain some of the LF-NX's angular side body creases. The vehicle you see above basically looks ready for production.
If this is in fact the NX, then reports of a Geneva debut for the luxury crossover seem even more accurate. The entire video is posted below, but the NX comes on screen around the 10:40 mark.