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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 celebrates 10 years of F performance with special RC F, GS F

Ten years ago, Lexus launched its F performance brand in a big way with the V8-powered IS F. To celebrate its decade-long life so far, a pair of also-V8-powered Lexus F models, the RC F and GS F, will get special editions. Sadly, they don't get any performance upgrades over the normal models, but they are visually striking. Both cars are finished in a matte paint called Nebula Gray, which the company says makes these special Lexus models the only ones to receive factory matte paint besides the LFA. The wheels are painted in a gloss black, and the brake calipers are painted a bright blue to match the F brand's colors. The F badges on the outside of the car also get little blue lines around their edges. Inside, both cars go wonderfully overboard with blue highlights. They each get bright blue leather seats with gray accents, blue suede shift knobs, and window switch panels adorned with blue, silver, and black carbon fiber. Naturally, serial number plates also appear inside to denote which example the car is. The GS F, despite being a more sober looking sedan, has the wilder interior. The back seats get blue leather highlights to match the fronts, the dash is wrapped in blue suede, and more blue carbon fiber trim is fitted to the center console. These 10th-anniversary edition cars are extremely limited production. Only 240 of the RC F will be produced, a number chosen because there are 240 Lexus dealers in the U.S. Only 100 of the GS F will be sold. They'll be available to purchase this summer, but Lexus hasn't finalized pricing for the cars. Related Video:

Dear rich people, skip the SUVs and big sedans. Buy a coupe!

Pretty much from the first time I drove a Lexus LC, I fell in love with the car (and most of us on staff have similar feelings). And having spent a week recently in a 2022 LC 500h variant, I'm still as fond of it as ever. It is, in many ways, a near perfect grand tourer. It's got stunning good looks (confirmed by various strangers asking about it) with details at home on a concept car. I'll never get tired of the infinity mirror taillights. The interior does the same with leather and suede over nearly every surface and even more styling flair from the grooves in the doors to the floating handles. And finally, it's lovely to drive. Even with the hybrid engine, it's smooth and fairly swift, and the ride and handling are just on the sporty side of comfortable: great to commute in, and happy being pushed a little bit. It's a car that's so good, that I found myself wondering, why aren't there more of them? And I'm not just talking about LCs (even though the LC is so good it really deserves to be selling in massive numbers). Why aren't there more personal luxury coupes and grand tourers? It certainly wasn't always that way. The mid- to late-20th century was the heyday of the luxury coupe. America led the way with enormous Cadillac and Lincoln hardtops with as much sheet metal on either end as it had in the middle. But later in the century, as more luxury automakers jumped in, we got more svelte GT-style cars from BMW (8 Series), Lexus (SC), Acura (Legend) and more. Classy two-door luxury was a thing. But now the number of high-end coupes are dwindling not just in sales, but in offerings. Mercedes killed its S-Class coupe a few years ago, and it's been ages since we've seen anything of the sort from Cadillac, Lincoln and others. Ok, so I literally know why they're not much of a thing anymore, at least to an extent. Coupes just aren't the popular body style. That crown goes to SUVs. Just look at BMW's sales for proof. It sold around 1,400 8 Series models in the first quarter of this year, and that's including convertibles, coupes and the Gran Coupe four-door hatchback. In contrast, it sold more than 6,400 X7s, the effective SUV equivalent to the 7 and 8 Series cars. And I have no doubt that there's more going on than the desire for the big, truck-like shape. There's also the practicality of having an SUV.