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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 IS named Esquire Car of the Year

Esquire holds an annual car of the year award, and for the past four years, only American or German autos, such as the Cadillac ATS and the Audi S4, have earned the publication's top pick. But for 2013, the top pick is from Japan: the 2014 Lexus IS350 F Sport. The publication calls the IS "thrilling first, responsible second."
Upon learning the top pick, we had to make sure we were still reading about a Lexus, though we admit the new IS350 F Sport is indeed a new breed, one that approaches BMW 3 Series levels of performance and handling while maintaining its Japanese identity.
Esquire appreciates the F Sport's new direction, but says, "Crucially, unlike everything else, it's not trying to be the BMW." It claims the 2013 car of the year is an "honest, gutsy, fast set of wheels."

2019 Lexus ES 350 F Sport Quick Spin Review | Yet another Lexus surprise

The 2019 Lexus ES 350 F Sport truly cements that "driving like a Lexus" now means something far different than it ever did before. It's not dull, it's not anonymous and old ladies probably won't like it. It should not be painted pearlescent white. Instead, the new ES is genuinely engaging to drive, feeling every bit like it was spawned from the same gene pool as the lustworthy LC coupe and surprisingly sharp LS flagship sedan. I actually enjoyed driving it more than the BMW M550i, and I liked driving that car quite a bit. Seriously. No one is as surprised by that statement as the guy who typed it. It really comes down to what you feel through that F Sport steering wheel, through your heels planted in the floor below, and the seat of your pants that's now placed lower in a sportier driving position. The 2019 ES 350 is one of those cars that manages to shrink around you as you hustle it along, feeling much smaller than its full-size sedan dimensions would indicate. It may be based on the Avalon, but that car never felt as lithe and responsive as its Lexus cousin. The extra structural rigidity of the ES is part of the equation. Now, to be fair, the ES in question is the F Sport model fitted with the optional Adaptive Variable Suspension derived from the divine LC, which no doubt helps the dynamics compared to lesser ES trims. But judging by the impressions of others, plus the rest of Lexus' redone lineup, lower-trim ESs seem to drive well. Even the base cars come with novel swing-valve shock absorbers designed to ably soak up bumps while keeping things level around corners. The electric power steering motor has also migrated from the column to the rack – a sure fire way to improve steering feel. And that it does, plus Lexus has a knack of tuning the various steering settings (Normal, Sport and Sport+) to be subtle in their increase of effort. There's no overly stiff weighting to satisfy the notion that "sporty" steering equals "stiff" steering, as is often the case in cars with variable drive settings. Appropriately, I drove in Normal around town and in Sport+ on my mountain road evaluation route. The differences aren't night and day -- it still feels like you're driving the same car -- it's just been tweaked slightly for ideal performance. These drive settings also adjust the adaptive suspension, if so equipped.