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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.

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:

Lexus will bring production UX small crossover to Geneva

Lexus has announced it will show its upcoming UX crossover at the Geneva Motor Show next month. The new nameplate goes 0n a smallish crossover, designed to compete with the BMW X2, the Jaguar E-Pace, the Mercedes-Benz GLA and others. Some reports say the UX would be replacing the CT200h hatchback, which has been on the market since 2011. The manufacturer first used the name on a concept at the 2016 Paris Motor Show, and the shapes have now been worked into a production version. The Paris concept was certainly bulky and scifi-like, but then again, so is the Toyota C-HR on which the UX is reportedly based. Lexus trademarked the model names UX 200, UX 250 and UX 250h with the U.S. Patent and Trademark office way back in 2016, so expect those to reflect the powerplants on offer; the 250h stands for a hybrid version, as has become the norm. The UX's production version might also bear a similarly over-the-top spindle grille as on the LF-1 Limitless concept, which will also be shown at Geneva for its European premiere. The teaser image released by Lexus shows little more than a full-width taillight panel that takes a curious upturn at each end, and much of the crossover is still veiled by darkness. We'll see if any more teasers surface before the car's debut. View 17 Photos Related Video: Image Credit: Lexus Design/Style Geneva Motor Show Lexus Crossover Luxury 2018 Geneva Motor Show lexus ux lexus lf-1 limitless lexus ux concept