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Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Lexus launches supercharged LX 570 in Middle East

The Lexus LX SUV is a very muscular, old-school vehicle. Based on the Toyota Land Cruiser, it's still a big, body-on-frame SUV, but inside it offers acres of leather and luxury tech. The brand's Kuwaiti distributor is taking it machismo even further for the local market with the new LX 570 Supercharger.
As the name suggests, the upgraded SUV grafts a supercharger onto the LX 570's 5.7-liter V8 to boost it to 450 horsepower, from 383 hp in the naturally aspirated version in the US (or 362 hp in the standard Kuwaiti version), and it uses the same six-speed automatic as the standard model. To signal the improved strength, much of exterior chrome is replaced with black trim. It also wears special 20-inch wheels and a rear spoiler. The interior is fitted with crimson leather seats and red-accented carpet. It also gets an aluminum sill plate that says "Supercharger." Like the standard Kuwait-spec LX 570, it has two fuel tanks with a total combined capacity of 36.46 gallons, which should help satiate the likely thirsty, forced-induction V8.
The LX 570 Supercharger won't be rumbling down streets outside of the Middle East, though. According to Lexus spokesperson Bill Kwong, this is a project by the distributor in the region. The supercharged engine also has "issues with emissions" in the US, especially in California, he told Autoblog. Too bad, it would be an interesting Range Rover alternative.

Lexus LY 650 luxury yacht is its fourth flagship

Earlier, Lexus teased a "fourth flagship" vehicle, in addition to the LS sedan, LX SUV and LC coupe. We wondered what it could be. Production version of the LF-1 Limitless? But what's that little cylinder? Lexus cologne? Well, Lexus' fourth flagship is literally more like a ship. It's the LY 650 luxury yacht. The 65.5-foot yacht has three staterooms, three heads, and it sleeps six people. It's powered by the choice of a Volvo IPS 1200 or Volvo IPS 1350 marine engine, and can hold 1,000 gallons of fuel. View 15 Photos Lexus says the LY 650's creation was inspired by positive public reception to the 42-foot Lexus Sport Yacht Concept. And it joins a crowded ocean of luxurious yachts and/or submersibles from Porsche, Bugatti, Migaloo and Aston Martin. Lexus tapped Wisconsin-based Marquis-Larson Boat Group to build, sell and service the luxurious boat. While this wasn't quite the new Lexus flagship we expected, it certainly is beautiful. We hope we get a chance to climb aboard soon. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.