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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:

The hoverboard of your dreams is finally here, thanks to Lexus

Finally. Finally! Anyone who grew up in the 1980s has been waiting for this moment for a long, long time. Since 1989, to be exact, which is when Back to the Future Part II hovered its way into theaters showing Marty-of-the-past riding a newfangled board-without-wheels in a fabricated future. After several teases, Lexus has finally unleashed real, actual footage of its hoverboard in action. As you'll see in the video, the learning curve is steep, even for a professional skateboarder like Ross McGouran. "I've spent 20 years skateboarding, but without friction it feels like I've had to learn a whole new skill, particularly in the stance and balance in order to ride the hoverboard. It's a whole new experience," says the hoverboard test rider. Before we all get too carried away, there are caveats to this real-world hoverboard. First, the technology doesn't work everywhere. According to Lexus, 200 meters of magnetic track was built in Dresden, Germany, and shipped to a specially built "hoverpark" in Barcelona, Spain. Unlike the fictional hoverboard from BTTF, though, Lexus' creation does indeed work on water... assuming there's a properly magnetic surface below the surface. We're sure you've got questions – cryostats, liquid hydrogen and magnets, are the likely answers – but first, you really should watch the video. Then, feel free to check out the full press release down below, but before you get too excited, know that Lexus has said it does not intend to sell a production version of its hoverboard. Related Video: Lexus Hoverboard Ride Revealed New Film for the Latest Amazing in Motion Campaign Shows Final Testing in Barcelona August 04, 2015 TOKYO, August 05, 2015 -- Following the unveiling of the Lexus Hoverboard in June, the luxury automotive company is completing a full and final reveal of the project concluding a successful testing phase which took place in Cubelles, Barcelona. Mark Templin, Executive Vice President at Lexus International said: "Embarking on this project, we set out to push the boundaries of technology, design and innovation to make the impossible possible. With this project we call 'SLIDE', we collaborated with partners who share our passion for creating enjoyment out of motion. Even through combining our technology and expertise, we discovered making a hoverboard isn't an easy process.

Toyota to enter modern turbo four-cylinder era with Lexus crossover

Toyota has sat quietly on the sidelines as many of its competitors have armed themselves in recent years with lower-displacement turbocharged four-cylinder engines in an effort to gain better fuel efficiency numbers and flatter power curves. It's a strategy largely shared by fellow countryman Honda, who turned away from offering forced-induction four-cylinder models in North America after its first-generation Acura RDX failed to find buyers. Toyota itself has no lack of experience with turbo fours, having built some humdingers for cars like the MR2 and Celica All-Trac back in the 80s and 90s. It's also offered factory-warranted turbos through its TRD performance parts division more recently.
Now, Automotive News is reporting that the world's largest automaker is finally poised to rejoin the turbo-four production-car fray in North America, but it won't be a sports car that delivers the first force-fed punch, it will be a new small crossover model for Lexus. We first showed you spy shots of the NX last week in mule form, and Automotive News says the small softroader will carry a 2.0-liter turbo four in its engine bay when it rolls on to world markets in 2014 or early 2015. That model, the NX 200t, will be joined by the NX 300h, a hybrid variant. It isn't immediately clear when US buyers will see the turbo model, however, it's possible that the hybrid could bow first - the story quotes an anonymous company source suggesting that Americans might not see the engine offering until sometime in 2015.
AN further posits that the new 2.0-liter will likely supplant the company's 2.5-liter V6 in the IS sedan and the same-displacement four-cylinder in the Toyota RAV4, but does not indicate where the new engine will be built.