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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.

Final Lexus IS F rolls off assembly line in Japan, bound for US

We knew this day would come, but it's nonetheless a bit of a sad one for Lexus enthusiasts as the very last example of the IS F has rolled off the assembly line in Tahara, Japan. Decked out in its trademark bright blue, the final IS F is destined for a customer right here in the United States.
Far from just another now-defunct model in an endless succession, the IS F marked the first time that Lexus did a proper performance model, debuting in production guise at the 2007 Detroit Auto Show alongside the LFA concept long before the latter entered production and took the idea of the high-performance Lexus even further. The IS F may not have sold in huge numbers, but it definitely marked a milestone for Toyota's luxury division.
Don't cry too much, however, as the new RC F that effectively takes its place packs an even mightier punch. While both are powered by essentially the same 5.0-liter V8 engine mated to an eight-speed automatic driving the rear wheels, the outgoing sedan's 416 horsepower and 371 pound-feet of torque is easily outgunned by the new coupe's 450 hp and 383 lb-ft.

Lexus, Mazda and Subaru top Consumer Reports Brand Report Cards

A revised methodology in devising its annual Car Brand Report Cards has seen Consumer Reports award Lexus its top overall ranking for 2013. For the first time ever, the institute broke out individual brands from their larger corporate umbrellas, meaning car makers like Lexus and Scion were judged independently from parent company Toyota. That strategy worked out well for Lexus, as the luxury brand earned a top report card score of 79 for the 2013 model year.
The institute has recommended every one of the Lexus models it has tested to date, and said that the company's products won out thanks to "a foundation of plush and very reliable vehicles."
Meanwhile, Mazda and Subaru tied for the second-highest scoring report cars, with scores of 76. Subaru earned praised for sporting models like the BRZ, which CR testers apparently had a lot of fun driving (naturally), while the Mazda products were lauded for their blend of practicality, sportiness and efficiency. Both of the Japanese brands offered good handling, fuel economy and versatility, said Consumer Reports.