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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 LS sedan will be quieter, more comfortable and smarter

Lexus made numerous updates to the LS in a bid to turn it into an even more comfortable cruiser. Unveiled online, the redesigned model gains a quieter cabin, new driving aids, and a handful of minor styling tweaks. Engineers turned their attention to parts of the fifth-generation LS that a majority of owners never think about in order to achieve a ride that's markedly quieter and smoother. They notably fitted a new solenoid to the adaptive suspension that reduces damping force, redesigned the motor mounts to prevent mechanical vibrations from entering the cabin, and changed the stiffness of the run-flat tires as well as the rigidity of the stabilizer bars. These changes come together to cement the sedan's positioning as the cushiest model in its category. Deeper stitch points and seat pads made with low-resilience urethane further enhance comfort, according to Lexus, but the biggest upgrades found inside are technology-related. The LS receives a digital rear-view mirror as well as a 12.3-inch touchscreen compatible with Android Auto and Apple CarPlay. Users can also control the display screen and audio functions using their phone once they've paired it to the infotainment system. LS buyers in select markets will be able to order the company's Teammate technology. It's a semi-automated suite of driving aids that bundles lane-keeping assist and adaptive cruise control while allowing the car to change lanes and pass slower vehicles. It does not turn the LS into an autonomous car; it merely helps motorists when driving becomes tedious. The system can only be used when the right conditions are met, and Lexus hasn't announced plans to offer it in the United States. The latest generation of park assist technology is available, too. The visual changes are relatively subtle. Up front, stylists redesigned the lights and gave the bumper a new look. Out back, eagle-eyed car spotters will notice the lights and the lower bumper have been slightly revised. It's the same story inside, where the most noteworthy change is the addition of the aforementioned touchscreen. Lexus expanded the color palette with a shade of silver named Gin-ei Luster that stands out with a smooth, mirror-like finish.

Lexus IS builds, new F performance structure get SEMA reveal

Lexus just announced a new F brand strategy at SEMA, and while the products themselves are not getting a massive overhaul yet, it’s vital to understand the new terms if you plan on being in the market for a sporty Lexus soon. Prior to today, we had F Sport, F Sport Performance and F. The F Sport cars were mostly aesthetic upgrades, and while some of them had performance upgrades, not all of them did. Only one F Sport Performance vehicle exists now, and itÂ’s the IS 500 F Sport Performance. Meanwhile, we have a number of F models, which is LexusÂ’ highest-performance moniker.  Going forward, there will be four performance tiers: F SPORT Design, F SPORT Handling, F SPORT Performance and F. WeÂ’ll lay out LexusÂ’ definitions of all four below for you. F SPORT Design: These vehicles may feature sport-inspired exterior design, including unique front and rear bumpers, grille and wheels. F SPORT Handling: Will build on Design with sport-tuned suspension components honed at the track, including Adaptive Variable Suspension. F SPORT Performance: In addition to the updated suspension components, these models may receive a higher-performance powertrain, as seen in the 2022 IS 500. F: As the highest expression of Lexus performance, F models will be further upgraded with innovative components developed for the racetrack, including upgraded brakes, advanced aerodynamics and lightweight materials. So there you have it. Similar to the Germans with multiple layers of AMG, Audi Sport and BMW M, Lexus will have multiple layers of F. In addition to this actual product news, Lexus revealed a pair of SEMA show cars. Both of them are from the IS tree, with one being an IS 500 F Sport Performance, and the other being an IS 350 F Sport. WeÂ’ll start with the IS 500. Hiraku & Townsend Bell is behind this “Street Performance” IS 500. Nothing much changed with the powertrain, but it does add an AÂ’Pexi induction box, TOMS Racing carbon fiber suction pipe and AÂ’Pexi exhaust system. Handling is enhanced with TOMS chassis braces in the front and rear. Plus, it gets an AÂ’Pexi adjustable coilover system. Rotiform LAS-R 20-inch wheels are wrapped in Nitto tires, and a Brembo GT braking system improves stopping power.  You can tell that the IS 500Â’s appearance has been modified, too — itÂ’s sporting a one-off 3-D-printed body kit. The Hiraku Co.