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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 builds an actual hoverboard [w/video]

Sometimes a story comes along that your heart desperately wants to be true, but every brain cell is screaming that something is amiss. For one of the best examples of this in recent memory, take a good look at the Lexus Hoverboard. Despite seeming like pure science fiction, the company vehemently claims this vision of the future isn't a joke or a hoax. It all seems so hard to believe, though. Like us, your first question is probably how this thing works if it is real. Unfortunately, Lexus is being very cagey with the details at this time. The Hoverboard allegedly runs on "magnetic levitation with liquid nitrogen-cooled superconductors and permanent magnets." That's all we know for the moment, but the Japanese automaker claims to be working with "experts in super-conductive technology." While not the first functioning hoverboard, this one can apparently work on concrete, based on the teaser video. The company's spokespeople aren't giving away any of the tricks, either. "It is indeed real. We have worked with companies to make this happen, and there will be more demonstration of this later this summer," Nik Pearson, Press Relations Manager for Toyota and Lexus in the UK, said to Autoblog. "The technology mentioned in the release is accurate." According to Lexus, the Hoverboard prototype is being tested in Barcelona. So any readers in the Spanish city should keep an eye out for someone floating by. Get any Back to the Future 2 dreams out of your head right now, though. The company is clear that this thing isn't going on sale. Pearson also reiterated that point to Autoblog: "Don't expect it in showrooms any time soon." The teaser video below shows off more of the board but still raises a lot of questions. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. LEXUS CREATES ADVANCED HOVERBOARD Design and technology collaboration achieves creative breakthrough for new Lexus Amazing in Motion project A Lexus has always been a vehicle that rides on wheels, in contact with the ground. Until now. This summer a new Lexus takes flight, bringing the stuff of science fiction closer to real world fact. Lexus has worked with experts in super-conductive technology to create one of the most advanced Hoverboards the world has seen. The concept is the fourth project in its Amazing in Motion campaign, demonstrating its commitment to pursuing new possibilities in advanced design and technology.

2019 Lexus UX now the most affordable Lexus

The 2019 Lexus UX subcompact crossover now has official pricing, and it makes it the most affordable Lexus model available. The standard, non-hybrid Lexus UX 200 starts at $33,025, and the hybrid Lexus UX 250h starts at $35,025. This means the base UX is roughly $4,000 cheaper than the next most affordable Lexus, the compact NX 300 crossover. Not only that, but the UX 200 undercuts some of the little crossover's main rivals such as the Mercedes-Benz GLA 250 and BMW X1. The former starts at $34,945, and the latter starts at $34,895. With the basic Lexus UX 200, you get a naturally aspirated 2.0-liter four-cylinder engine that's also found in the new Toyota Corolla hatchback. It makes 169 horsepower, 151 pound-feet of torque, and it goes solely to the front wheels via the same kind of CVT as the Corolla, complete with 10 selectable ratios and a special short-ratio gear for takeoff. If you want all-wheel-drive, you'll have to opt for the UX 250h hybrid. That model features 175 horsepower and a rear electric motor to provide power to the back wheels. Notably, both of these UX models are significantly down in power and torque compared with the aforementioned German rivals. The Mercedes GLA 250 makes 208 horsepower and 258 pound-feet of torque, and the BMW X1 makes 228 horsepower and 258 pound-feet of torque. Regardless of whether you pick the basic UX 200 or the UX 250h, you'll get at least a six-speaker sound system with a 7-inch infotainment screen. It also comes with Apple CarPlay, though Android Auto is not available. The UX models can be optioned with larger infotainment displays all the way up to a 10.25-inch example. All models also come standard with adaptive cruise control, lane-keep assist and forward collision prevention with pedestrian detection. The UX 200 will be the first on sale starting this December, and the UX 250h hybrid will become available the following month. Related Video: