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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 reportedly working on two different successors to the LFA

The successor to the Lexus LFA is beginning to take shape — in unofficial rumors, at least. The firm's next supercar will reportedly make its debut in the coming years with a V8 under the hood, and it will be followed by a battery-electric model due out at the turn of the decade. Citing anonymous inside sources, Japanese magazine Best Car wrote that the long-awaited car that will take the torch from the limited-edition LFA will land in showrooms in 2025. As we've previously reported, it will be powered by a gasoline-electric hybrid powertrain built around a mysterious 4.0-liter V8 engine fitted with two turbochargers. The publication adds that the coupe, whose name hasn't been confirmed, will be launched as a regular-production model and that it will be built on a version of Toyota's TNGA-L platform. This is the same architecture found under the LC and the LS, among models, and using these foundations should allow Lexus to keep the car's cost in check. Engineers could peg the hybrid system's total output at around 700 horsepower, and Best Car reports that the car's front end will borrow styling cues from the Electrified Sport concept (pictured) introduced in December 2021. If the report is accurate, sales will start in 2025. Speaking of which, the Electrified Sport will make its debut with a battery-electric powertrain in 2030 at the earliest. Its design will evolve over the next eight-plus years; it sounds like what we saw in December 2021 more accurately previewed the hybrid supercar than the electric one. It could hit 60 mph from a stop in under 2 seconds, and it could offer a maximum driving range of over 430 miles. Interestingly, the same report points out that the Electrified Sport might use solid-state batteries. That technology's not ready, but Lexus has plenty of time to fine-tune it. Toyota GR GT3 Concept View 8 Photos On the Toyota side of the family tree, the GR GT3 concept unveiled in January 2022 is allegedly on its way to production (in one form or another) as well. It will initially spawn a race car built to GT3 specifications, as its name implies, and it will benefit from the lessons that engineers learned while designing a road-going, Le Mans-inspired hypercar that Toyota consigned to the automotive attic in August 2021. Whether the GR GT3 will be related to the LFA's successor is up in the air, though it doesn't take a significant stretch of the imagination to speculate that some parts will be shared.

Toyota twin-turbo V8 patent unearthed

An unremarkable patent focusing on a minor engine part has revealed that Toyota is at least considering a twin-turbo V8. While the filing is most likely just a large company protecting its intellectual property, it could also be a small glimmer of hope that Toyota, a storied company that's made some glaring missteps with enthusiasts in recent years, can leave the ICE party with a bang for the ages. The patent for a secondary PCV separator, whose function is to isolate exhaust gas from lubricating oil, was discovered by a member of the GR86 forum. In this case, it's not engine oil that's the culprit, but turbocharger oil. From a twin-turbo V8. The patent starts out with an almost embarrassingly hilarious stick figure drawing of a car and where said engine would be located (in the front, under the hood, duh). It has the words "Internal Combustion Engine" printed on a rectangle in case there was any doubt. However, the second figure shows a dual turbo setup nestled in the valley of a V8. It's a prime location for reducing turbo lag and optimizing throttle response (and should necessitate a substantial hood bulge as well). Now, interestingly, the forum member believes this engine will be installed in the next Tundra (and presumably Sequoia), but our own research indicates that the pickup will have a 3.5-liter twin-turbo V6 under the hood. With all due respect to the GR86 members, we're going to stand by that assertion and cross our fingers that the patent hints at something even better. That would be a high-performance Lexus, possibly an IS F or, if the ICE gods will allow it, an LC F. After all, we have had reports from Japan that a trio of F-cars were coming, including a LS F. It would explain why the 472-horsepower, V8-powered IS 500 was called the Sport Performance instead of full-on IS F. In fact, Lexus reps have promised that the F label would become even more performance oriented. A proper IS F would be a fitting sendoff to Toyota's high-performance V8, but the tested, then reportedly canceled, then reportedly revived LC F would be an even more melodious swan song. The flagship grand tourer could very well allow loyalists to forgive the aforementioned gaffes. Toyota president and noted car guy Akio Toyoda has taken heat for questioning the coming outright ban of ICE sales in his home country of Japan. Perhaps this engine is one of the reasons he's objecting.