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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.

2021 Lexus ES adds AWD and Black Line Special Edition to lineup

Toyota engineered a Camry with all-wheel drive, so transferring it over to the Lexus only makes sense. The 2021 Lexus ES 250 AWD debuts today, adding all-wheel power to the ES for the first time. Lexus teased the possibility of an all-wheel-drive model at this generation’s launch, but it hasnÂ’t been officially announced until now. Just like the newly-available Camry AWD, this one is exclusively paired with a four-cylinder engine. Besides the Hybrid model, the ES was only offered with a naturally aspirated V6. Now the 2.5-liter four-cylinder migrates to the Lexus with 203 horsepower and 182 pound-feet of torque. ItÂ’s a shame that Lexus hasnÂ’t paired the all-wheel-drive system with the more powerful V6, but it was a task and a half to re-work the Camry with this system already.  You can read all about the engineering behind it in our Camry AWD First Drive. The Lexus uses the same “Dynamic Torque Control” system thatÂ’s found in the Camry to dole out the power rearward. ItÂ’s scanning for front wheel slippage, driver steering input and throttle input, then sending up to 50 percent of the power rearward when needed. The “Torque Control” part of it is not true torque vectoring, but ToyotaÂ’s system can pinch the brakes of the inner wheel when cornering to create the sensation of torque vectoring. Lexus says the ES 250 AWD has the same legroom, trunk room, ride comfort, cabin quietness and vehicle agility as any other Lexus ES. The Camry AWD has its rear seats raised by 10 mm, but thatÂ’s not the case for the ES, as Lexus claims it has the same rear hip point as the front-wheel-drive car. ThereÂ’s a small benefit in fuel economy dropping down to the slower four-cylinder, as the 250 AWD gets 28 mpg combined, whereas the 350 returns 26 mpg combined. If you want more performance, Lexus is making an F Sport version of the ES 250 AWD. 2021 Lexus ES 350 Black Line Special Edition View 8 Photos The 2021 Lexus ES 350 Black Line Special Edition also debuts today. ItÂ’s a limited-run ES based on the F Sport model that essentially amounts to a fancy appearance package. Lexus adds black F Sport wheels with black lug nuts, a black rear lip spoiler and blacked-out side mirrors. There are three exterior colors to choose from: Ultrasonic Blue Mica 2.0, Obsidian and Ultra White. Pictured in the gallery above is the Blue Mica and Ultra White. We like the blue. You also get a two-tone interior, mixing Obsidian and Ultra White with gray stitching.

Lexus pushing upmarket as others move down, LF-LC production hinted [w/video]

Jeff Bracken, Lexus' US group vice president and general manager, knows his company lost its position as America's biggest luxury brand back in 2011, and it's a mantle that his employer probably won't be getting back any time soon. That's because Lexus is electing not to follow the luxury segment's downmarket trend any more than its $32,500 CT 200h hybrid hatchback. "Since we won't be going down below $30,000, it will be very difficult for us to ever regain luxury leadership," Bracken admitted on Autoline After Hours late last week.
Rivals Mercedes-Benz, BMW and Audi all have new low-end entries on sale or in the wings to entice new buyers and fortify their CAFE scores, but Lexus has Toyota and Scion to capture sales underneath its lineup. Instead, Bracken hints that Lexus is going upmarket and higher-performance, fueling ongoing rumors of a LFA successor, or perhaps a new offering based on the lauded 2012 LF-LC coupe concept shown above, a production version of which could also slot in where the unloved SC convertible left off. "We need to begin bringing to market luxury performance... higher performance vehicles. IS-F certainly was the beginning of that, maybe on the lower end," says Bracken.
Later in the online video interview show, Bracken gets even more candid: