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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 ends partnership with Weinstein Co. and 'Project Runway'

Lexus has been a long-time sponsor of fashion reality competition show Project Runway, providing a car to the contest's winner and sponsoring at least one specific "challenge" per season. Only last week, a Lexus NX 200t was featured and used as inspiration for the remaining group of fashion designers. This would seem to be the last season that will happen, however, as Lexus has ended its partnership with the show's production company, Weinstein Co., after sexual harassment allegations leveled at Harvey Weinstein. "Lexus has chosen to terminate its agreement with The Weinstein Company that saw the luxury automaker working with the film studio on certain film and television projects," a company spokesperson wrote in a statement to Reuters. Last week, Lexus indicated it was "evaluating" its relationship with Weinstein Company. One would imagine this delay was the result of that week's episode featuring Lexus substantially more than usual. Related Video:

Lexus LF-C2 Concept teased ahead of LA Auto Show debut

Lexus is bringing an appropriate concept to the 2014 LA Auto Show in the form of the topless LF-C2 Concept you see teased above (click on the image to enlarge). We really don't have a lot information on this one as of yet, although we only have just over a week to wait.
We can, however, speculate. Does the LF-C2 preview a convertible LF-LC? Maybe. Could this show off a replacement for the IS Convertible, maybe modeled on a RC coupe with a folding-metal roof? That's also a pretty fair possibility.
Proving that social media reveals have well and truly jumped the shark, Lexus will release further teasers of the LF-C2 during a three-day social media campaign. That'll culminate with its LA Auto Show debut on November 19.