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China fines Toyota $12.5 million over Lexus price-fixing

BEIJING — China's market regulator on Friday has fined Japanese carmaker Toyota Motor 87.6 million yuan ($12.5 million) for price-fixing on its premium Lexus cars in eastern Jiangsu province, according to a document on its website. The decision comes as China steps up regulation over auto sales in the world's biggest vehicle market, where more than 28 million cars were sold last year. The anti-monopoly bureau of State Administration for Market Regulation said that between 2015 and 2018, the Japanese carmaker set a minimum sales and resale price for its cars in coastal Jiangsu province, which deprived dealers of pricing autonomy and harmed customers' rights. Lexus also fixed sales strategies in the region over the period, including offering customers discounts while asking them to purchase accessories at fixed prices, a sales tactic usual among individual auto dealers in China but frowned upon for carmakers. A spokesman at Toyota, Lexus' parent firm, told Reuters the firm acknowledged the penalty and respects the decision. He did not comment further. China's auto sales are declining, but Lexus' sales keep growing. It sold 180,200 vehicles in the first 11 months this year, a 21% jump from a year earlier. In June, China's market regulator imposed an 162.8 million yuan fine on Ford Motor Co's joint venture with Changan Automobile Group for violating anti-monopoly law. ($1 = 6.9927 Chinese yuan renminbi) Reporting by Yilei Sun and Norihiko Shirouzu. Related Video:

Lexus trademarks enigmatic LX 600 nameplate

An American trademark filing suggests Lexus is about to expand its lineup of SUVs with a range-topping model named LX 600. The new nameplate asks many more questions than it answers. Discovered by AutoGuide, the filing seemingly corresponds to a stronger evolution of the Toyota Land Cruiser-based LX 570 that currently occupies the top spot in the Lexus SUV hierarchy. LX is, of course, the model, while 570 denotes the presence of a 5.7-liter V8 under the hood. By that logic, an LX 600 should have a 6.0-liter engine, and very likely a V8; we can't imagine Lexus selling an LX with 10 or 12 cylinders, for better or worse, and a 6.0-liter V6 would be a mammoth of an engine. One of the question marks hovering around the filing is whether 600 actually corresponds to the engine's displacement. There isn't a 5.0-liter V8 between the LS 500's fenders; it's powered by a twin-turbocharged, 3.5-liter V6. Carmakers are moving away from large-displacement engines to comply with looming emissions norms, and Toyota is on the front lines, so the theory of a 6.0-liter V8 in a Lexus flagship — even one that's relatively old-school — struggles to hold water. An earlier report claims the next-generation Toyota Land Cruiser will ditch its V8 in favor of the aforementioned V6, and it might be available with the LS 500h's gasoline-electric hybrid powertrain. The LX has always been nearly identical to the Land Cruiser in the engine bay, so it will likely surf the downsizing wave, too. Our intuition tells us 600 is too high for the base model, and the flagship hybrid would logically be dubbed 600h. Here again, we've reached a body-on-frame cul-de-sac. We can't forget about the possibility that Lexus will not slap the LX 600 nameplate on anything. Automakers routinely trademark names to protect them without planning on using them. The company hasn't commented on the trademark filings, and it hasn't shed light on the next-generation LX, so the speculation will continue until official information emerges. It's tentatively scheduled to make its debut in 2021, and arrive in showrooms in 2022, about a year after the new Land Cruiser. Featured Gallery 2019 Lexus LX 570 View 42 Photos Auto News Lexus SUV Luxury

Lexus builds an actual hoverboard [w/video]

Sometimes a story comes along that your heart desperately wants to be true, but every brain cell is screaming that something is amiss. For one of the best examples of this in recent memory, take a good look at the Lexus Hoverboard. Despite seeming like pure science fiction, the company vehemently claims this vision of the future isn't a joke or a hoax. It all seems so hard to believe, though. Like us, your first question is probably how this thing works if it is real. Unfortunately, Lexus is being very cagey with the details at this time. The Hoverboard allegedly runs on "magnetic levitation with liquid nitrogen-cooled superconductors and permanent magnets." That's all we know for the moment, but the Japanese automaker claims to be working with "experts in super-conductive technology." While not the first functioning hoverboard, this one can apparently work on concrete, based on the teaser video. The company's spokespeople aren't giving away any of the tricks, either. "It is indeed real. We have worked with companies to make this happen, and there will be more demonstration of this later this summer," Nik Pearson, Press Relations Manager for Toyota and Lexus in the UK, said to Autoblog. "The technology mentioned in the release is accurate." According to Lexus, the Hoverboard prototype is being tested in Barcelona. So any readers in the Spanish city should keep an eye out for someone floating by. Get any Back to the Future 2 dreams out of your head right now, though. The company is clear that this thing isn't going on sale. Pearson also reiterated that point to Autoblog: "Don't expect it in showrooms any time soon." The teaser video below shows off more of the board but still raises a lot of questions. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. LEXUS CREATES ADVANCED HOVERBOARD Design and technology collaboration achieves creative breakthrough for new Lexus Amazing in Motion project A Lexus has always been a vehicle that rides on wheels, in contact with the ground. Until now. This summer a new Lexus takes flight, bringing the stuff of science fiction closer to real world fact. Lexus has worked with experts in super-conductive technology to create one of the most advanced Hoverboards the world has seen. The concept is the fourth project in its Amazing in Motion campaign, demonstrating its commitment to pursuing new possibilities in advanced design and technology.