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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.

Google self-driving car badly damaged in accident but wasn't at fault

A self-driving Lexus RX 450h hybrid sport utility vehicle owned and operated by Google was involved in an accident in Mountain View, California, on Friday afternoon. Nobody was injured, though there was an occupant inside the Lexus at the time of the crash. Initial reports indicate Google's autonomous vehicle was not at fault. The accident happened when another driver in a commercial van ran a red light and hit the passenger side of the autonomous vehicle. Google confirmed that the vehicle was piloting itself at the time of the accident. When it became obvious a collision was imminent, the human driver applied the brakes, but it was too late. The car sustained significant damage in the crash and had to be towed away on a flatbed trailer. This isn't the first time one of Google's self-driving vehicles was involved in an accident, but it does appear to be the first time one of the tech giant's cars sustained serious damage. In a statement to 9to5Google.com, Google said, "Thousands of crashes happen everyday on US roads, and red-light running is the leading cause of urban crashes in the US. Human error plays a role in 94% of these crashes, which is why we're developing fully self-driving technology to make our roads safer." The United States Department of Transportation earlier this week outlined a set of 15 safety assessment objectives for autonomous vehicle manufacturers to meet. The DOT said "automated vehicles hold enormous potential benefits for safety, mobility and sustainability." Related Video: News Source: 9to5Google.com, G4 via YouTubeImage Credit: G4 via YouTube Auto News Government/Legal Green Lexus Technology Crossover Autonomous Vehicles Hybrid accident lexus rx lexus rx450h

Lexus RX450h+ mysterious patent filing hints at plug-in hybrid

Lexus entered the hybrid segment before a vast majority of its rivals, but it has timidly stayed away from the plug-in hybrid arena. Trademark documents filed in Europe suggest that's going to change sooner rather than later. Toyota's luxury division asked the European Union Intellectual Property Office to protect the RX450h+ nameplate, and it was granted the trademark in October 2020. It noted the name will be used on "automobiles and structural parts thereof," meaning it's likely going to be a nameplate. It's a familiar one, but the plus makes a big difference. Lexus already sells a car named RX450h; it's a hybrid version of the fourth-generation RX crossover, which is its best-selling model by a significant margin. Unverified reports claim the plus after the h will denote a plug-in hybrid model that will be powered by an evolution of the gasoline-electric powertrain found in the Toyota RAV4 Prime. It will put at least 300 horsepower under the driver's right foot, and it should be capable of driving on electricity alone for approximately 40 miles, a figure which will put it near the top of its class. It'll be reasonably quick, too. Rumors are a dime a dozen in the automotive industry, and a trademark filing should never be mistaken for a promise to release the model it details, but this report is more credible than most. Lexus has previously confirmed it will release its first plug-in hybrid model in the early 2020s after shunning the technology for years, and putting the powertrain in the RX makes sense. It sells well (about 111,000 units found a home in the United States in 2019), and it's a relatively big model so it's reasonably easy to equip with a battery pack. It's worth mentioning that the smaller NX should receive the same powertrain and a similar name in the not-too-distant future, too. Lexus hasn't commented on the trademark filing, and it hasn't publicly announced plans to release a plug-in hybrid variant of the RX (pictured) or of the NX. If the report is accurate, the crossover will likely make its public debut in the coming months. Whether it will be sold in the United States remains to be seen, however. Related Video: