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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.

2013 Lexus ES300h

The Lexus ES lineup, the brand's bread-and-butter sedan, has been completely redone for 2013. With that tip-to-tail rework comes the model's first hybrid. We think the ES350 is better in every way than its predecessor, so a spin in the ES300h is warranted to see what it's like to live with the model sure to become the best-selling Lexus hybrid sedan. In particular, we wanted to see how the gas-electric luxury cruiser handled the battery-sapping realities of winter, so we ventured out into the slush and snow to file this report.
Driving Notes:
Peel away the slush, and this car sure is sharp-looking. It strongly resembles the excellent new GS, no bad thing. With the move to the longer Toyota Avalon underpinnings, the ES300h is long and elegant. Lexus has really upped its styling game lately.

Next-gen Lexus IS design revealed to be swoopiest yet

We drove it while it was covered in cloth and vinyl not long ago, but before the 2014 Lexus IS350 F-Sport gets revealed at the Detroit Auto Show and we find out everything about it, Lexus has graced us with images. In addition to the spindle grille - with an elevated waistline on the F-Sport - the coming IS gets a jagged set of dual-beam headlights with L-shaped DRLs that are, for the first time on a Lexus, separate from the main units. Further back, the side sills get a twist and intense sculpting throughout the length of the longer wheelbase.
Inside is an LFA-inspired cockpit with thinner sport seats and more room in just about every area, the moving "driver's meter" in the dash cluster, electrostatic controls for cabin temperature control, 60/40 folding rear seats and "metal film 3-D-effect ornamentation."
The F-Sport package will be available on the IS250, IS350, IS300h equipped with Lexus Hybrid Drive. The hybrid will not come to the US.