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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 LF-1 Limitless luxury crossover concept is an intergalactic flagship

A dressed-up Land Cruiser it is not. As most every manufacturer making cars in 2020 will be offering crossovers in varying sizes, Lexus has unveiled its new LF-1 Limitless concept, which has been penned at Toyota's Calty Design Research in Southern California. The vehicle is billed as a "flagship crossover," meaning it slots above the RX and offers more flair than the more truck-like GX and LX models. If the design of the concept seems sharp, it's at least in part due to the design approach Lexus calls "molten katana" — with the appearance of a Japanese sword in automotive form. The spindle grille that's been the centerpiece of recent Lexus front ends is now a three-dimensional design, which appears to mimic a "Star Wars" ship's shift into hyperspace, eschewing surrounding chrome in favor of LED lighting. The concept detailing includes slightly Tesla–like door handles, which reveal a Lexus logo in the negative space, and a roof spoiler split in the middle. Door mirrors have been shaved off, with the rear view delivered into screens around the instrument cluster, where they resemble motorcycle mirrors. The feel of hyperspace continues inside, with the perforated door trim allowing lighting through like a starry sky. There are four matching, individual white leather seats under the moonroof, and there's a dedicated light show on offer at the press of the start button, depending of the function mode selected. Most analog switches have been replaced by haptic controls grouped around the driver, or fitted in the steering wheel; all powertrain controls are either in the wheel or in the steering column. By "Limitless," Lexus appears to refer to the choice of propulsion. Reading between the lines, there doesn't seem to be a set powerplant for the vehicle, as by 2025 all Lexus model lines will be electrified in some fashion, and the production version could be a fuel-cell vehicle, a PHEV, all-electric, or gasoline-powered. There's also a hands-free driver assist level Lexus calls "Chauffeur mode." In addition, there's a fourth dimension to the concept's navigation system — time. The setup reads traffic information, anticipating possible stops on the way. The idea, according to Lexus, is that the navigation system should feel like a concierge, a virtual assistant instead of just a map screen.

Lexus LCs for SEMA inspired by Blue Morpho butterfly, Marvel's Black Panther

Lexus is bringing a pair of LC 500 coupes to this year's SEMA show, and they're thoroughly different vehicles to one another. The first is a production car, the Lexus LC Inspiration Series. It's a highly limited-edition car that is mostly stock except for a unique paint job. The other also has a special paint scheme, but it's a one-off show car designed around the upcoming Marvel movie, " Black Panther," in which an LC 500 will be featured. The LC 500 Inspiration Series, being a production car, should be of the most interest to consumers, but also because of its special paint. Looking at it, it's very clearly blue, but according to Lexus, there are no actual blue pigments in the paint. Instead, the blue hue comes from the way nano-structures buried in the paint reflect blue light. It works similarly to the wings of the Blue Morpho butterfly, which also lack any actual blue coloration, but the structure of the wings' surfaces reflect blue light. This paint is not easy to make, either. Lexus says it takes eight months to produce a batch, and only two cars with the coating can be built each day. So it's easy to understand why this is a limited edition car and color. Only 100 will be sold in the United States. To sweeten the deal, this Inspiration Series edition comes standard with 21-inch forged wheels, exclusive carbon fiber door sill plates, and, for some reason, a Barneys sommelier bar set with a design inspired by the LC. View 11 Photos As subtle as the Lexus LC 500 Inspiration Series is, the Black Panther LC 500 isn't. The car features an extremely widened body. It's a fairly elegant design, except for the stuck-on claws on the side mirrors that are echoed by the silver panted fender vent strakes. The paint scheme is equally absurd. The dark indigo blue paint has an enormous Black Panther mask design on the hood. Under the car is blue underglow, and the interior is finished in black leather with blue Alcantara. Lexus also lists a number of fictional features for the car, since it is meant for the Black Panther superhero. Among them are a bulletproof, self-healing Vibranium body, systems controlled by a "Wakandan B-CPU (Brain/Computer interface) creating a symbiotic relationship between the vehicle and its driver," and side mirrors with "instinctual positioning technology" to automatically move to the right position for the driver.