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China fines Toyota $12.5 million over Lexus price-fixing

BEIJING — China's market regulator on Friday has fined Japanese carmaker Toyota Motor 87.6 million yuan ($12.5 million) for price-fixing on its premium Lexus cars in eastern Jiangsu province, according to a document on its website. The decision comes as China steps up regulation over auto sales in the world's biggest vehicle market, where more than 28 million cars were sold last year. The anti-monopoly bureau of State Administration for Market Regulation said that between 2015 and 2018, the Japanese carmaker set a minimum sales and resale price for its cars in coastal Jiangsu province, which deprived dealers of pricing autonomy and harmed customers' rights. Lexus also fixed sales strategies in the region over the period, including offering customers discounts while asking them to purchase accessories at fixed prices, a sales tactic usual among individual auto dealers in China but frowned upon for carmakers. A spokesman at Toyota, Lexus' parent firm, told Reuters the firm acknowledged the penalty and respects the decision. He did not comment further. China's auto sales are declining, but Lexus' sales keep growing. It sold 180,200 vehicles in the first 11 months this year, a 21% jump from a year earlier. In June, China's market regulator imposed an 162.8 million yuan fine on Ford Motor Co's joint venture with Changan Automobile Group for violating anti-monopoly law. ($1 = 6.9927 Chinese yuan renminbi) Reporting by Yilei Sun and Norihiko Shirouzu. Related Video:

2022 Lexus IS 500 F Sport First Drive | A charismatic outlier

For 2022, the Lexus IS is getting a V8, the first time since the last IS F was built back in 2014. But instead of an uncompromisingly sporty successor to the IS F, Lexus has created something a little softer and more civilized, and given it a similarly watered-down name: IS 500 F Sport. And in our time with the sedan, it's an apt name, since it's not a real competitor for the M, AMG, RS and Blackwings of the world. But what it is isn't bad, either. It's a characterful sport sedan that makes for an interesting alternative to similarly softer and more civilized choices like the BMW M340i or Audi S4. It is hampered by some familiar Lexus problems, but it has enough to like that the right buyer can happily overlook the shortcomings. Before diving too deep into the driving impressions, let's go over what was done to create the 2022 Lexus IS 500 F Sport. The lynchpin is the 5.0-liter naturally aspirated V8. It's a unique feature for a class full of turbocharged four- and six-cylinder engines. It sends 472 horsepower and 395 pound-feet of torque to the rear through an eight-speed automatic transmission and a standard limited-slip differential. Lexus clocks the 0-60 time at 4.4 seconds, which is on par with the rear-drive M340i. Of course, the BMW has 90 fewer horsepower. It sits on a sport-tuned adaptive suspension and gets bigger brakes with better cooling, but that's about it for mechanical upgrades. It's all wrapped in a body that looks almost exactly like the IS 350 F Sport except for the quad exhaust, exclusive Enkei wheels and the power bulge that raises the hood by 2 inches. It's great for keeping a low profile, but nodding quietly to those in the know that, yes, this is the fast one. The interior also gets leather and faux suede upholstery, a thick F Sport steering wheel and other F-related trimmings. As with every Lexus so equipped, the IS 500's V8 is a true treat that makes up for whatever disadvantages it might have on paper with endless character in person. It's spectacularly smooth and demure most of the time, but when asked, it delivers a raucous intake growl and a just right amount of exhaust noise. And it does so without needing to have the artificial sound enhancer turned on (it's adjustable from nothing to 100% via a scroll wheel on the dash). It's eager to rev and will do so to a little past 7,000 rpm. Peak power lives up there, but it has enough mid-range grunt to keep it entertaining even when you're not making the most of every gear.

It's a V8 party! Lexus IS 500, Cadillac Escalade and more | Autoblog Podcast #667

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. It's all V8s all the time this week, starting with the Land Rover Defender V8 unveiling, Lexus IS 500 F Sport Performance debut and pricing announcement on the Jeep Wrangler 392. Next, they move on to what they've been driving. Spoiler alert: That means more V8 talk. Zac has been driving the Cadillac Escalade with the 6.2-liter V8 and BMW M550i with its 4.4-liter twin-turbo V8. Greg and Zac take a pause from the V8 theme by discussing their shared time in our long-term Acura TLX. From this, they segue into a "Spend My Money" feature about garage lifts to finish the show. Autoblog Podcast #667 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News 2021 Jeep Wrangler Rubicon 392 priced at nearly $75,000 2022 Land Rover Defender bulks up with a 518-hp V8 2022 Lexus IS 500 F Sport Performance brings back the V8 What we're driving BMW M550i Cadillac Escalade Acura TLX Spend my money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: