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Here's your chance to get a near-new 1st-gen Lexus LS400

The original Lexus LS400 was the automotive equivalent of a batter approaching the plate, pointing to the right-field bleachers and smacking the first pitch out of the ballpark. With the engineering excellence of Toyota fueled by the bountiful resources of the Japanese bubble economy, the first LS perfectly executed its mission. It also set a benchmark in quality and has earned a stellar reputation for durability. Most of the examples that today turn up in the used-car market have racked up mileage well into the six figures, and although they're often amazingly well preserved, that very longevity makes the idea of a near-new first-gen LS400 all the more compelling. With just 34k miles on the clock, this 1993 LS400 available now on Bring a Trailer is the freshest we've seen in a long time. This LS400 is said to have remained with its original owner until being acquired by a dealer in New Jersey. Like seemingly all LS400s of its era, the car is champagne gold with a tan leather interior. It also has chrome wheels and gold badging — but then we did say it was a New Jersey car. A just-completed $1,200 service included a new timing belt, water pump, and distributor caps and rotors (there are two, one per cylinder bank). That should start the winning bidder off on a course of several hundred thousand miles of trouble-free ownership. At this writing, bidding has already reached $10,000, with six days to go.

Lexus RC media event in Japan canceled over lack of interest

It's a good thing senior editor Seyth Miersma doesn't live in Japan, or he wouldn't have been able to snap a photo like the one you see here, of a fresh-off-the-line Lexus RC F on hand at a first drive for media. That's because Toyota's Japanese arm has outright canceled its RC press launch. Sure, we've heard about events being delayed, but canceled? That's rare. Even worse is the reason: according to Automotive News, the event was nixed due to lack of interest. Wow.
In an email to media, Lexus said the event "has been canceled due to insufficient attendance," according to AN. The News posits that perhaps it would have just been better to hold the event anyway, in an attempt to save face, and that this is another example of the Japanese culture (especially youth) becoming less and less interested in cars. Of course, there's also the thought that local media just didn't want to drive out to Yokohama to drive the RC on a not-so-sexy press launch, which, if you ask us, is an incredibly lame excuse (do your jobs, folks!).
Either way, will this bode well for the Lexus RC's public launch? Will it receive the same lukewarm response when it arrives at Japanese dealers? We'll see.

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.