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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.

Toyota recalls 370k Sienna minivans, 10.5k Lexus GS models over separate issues

The year of the recall continues, but this time it isn't from General Motors. Toyota is announcing two, separate recalls affecting a pair of its models.
First, Toyota is recalling 370,000 Sienna minivans from the 2004 to 2011 model years that are registered or originally sold in cold-weather states. The problem is that the spare tire carrier assembly cable can be splashed by water contaminated with road salt and cause corrosion. There is a splashguard in place to prevent this, but it sometimes gets lost in "normal usage," according to the company. If the cable does break, then "the spare tire may separate from the vehicle."
This is actually the second repair for this problem for some of these vehicles. In 2010, Toyota issued a recall on 600,000 Siennas from the 1998 to 2010 model years. At the time, it installed a new splashguard and sprayed the area with an anti-rust chemical. However, according to Toyota spokesperson John Hanson speaking to Autoblog, the campaign worked for the 1998 to 2003 models but wasn't sufficient for the newer ones. For the latest recall, the vehicles are getting the entire cable replaced with a stainless steel unit and a new splashguard.

2022 Lexus RC F and RC F Fuji Speedway growl on nearly unchanged

Two years ago, Lexus debuted an anyone-can-buy-it RC F Track Edition that cut 122 pounds from the standard RC F with upgrades like a raw carbon fiber hood, carbon fiber rear wing, Brembo carbon-ceramic brakes, and a titanium exhaust. Our First Drive of that car praised its promise, but chided Lexus for giving up halfway to the goal of making a truly special sporting machine. A year later, Lexus rolled most of the Track Edition changes into the RC F Fuji Speedway Edition, dropping the price from the $98,750 Track Edition by exactly one Ulysses S. Grant to $98,700, but limiting availability to 60 units. The Fuji Speedway Edition returns for the 2022 model year, and while Lexus hasn't divulged pricing, availability's been constricted further, to 50 units.  The only two changes between the 2021 model and next year's version start with the exterior color. Instead of having the choice of Arctic Blast Satin White or Cloudburst Gray, the only sheetmetal hue on offer will be Electric Surge. The rich blue tone has a semi-matte finish, delivering a muted luster that won't be destroyed by an automatic car wash. The other changes is also about color, this time on the inside. The Circuit Red Alcantara and red carbon fiber trim retire to make way for a black cockpit with seats trimmed in Blue Alcantara and blue carbon fiber accents. Over on the standard car, the sole change for 2022 is a new 19-inch wheel design, still wearing staggered Michelin Pilot Sport 4 S tires, 255/35 in front, 275/35 in back. The real magic of the RC F lineup, its naturally aspirated V8 with 472 horsepower and 395 pound-feet of torque, waves its hardcore enthusiast flag for another year unchanged. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.