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Lexus LC convertible possibly spied in production form

Following a concept reveal at the beginning of the year and confirmation of production a few months ago, we've finally got a glimpse of what may be the production Lexus LC convertible. The droptop was spied during a photo shoot in Los Angeles. It appears to be wearing the "Structural Blue" hue that made its debut at SEMA a couple years ago. While the concept shown at Detroit looked nearly production-ready, there are small differences between it and this photo car. Close examination shows that this version has a small wind blocker and differently shaped rear seat backs. These pieces match up with the prototype that appeared at the Goodwood Festival of Speed. The main difference between this car and the Goodwood example is that this photo car has more finished trim around the tonneau cover. Another difference from the Detroit concept is the fact the rear tonneau has a section finished in the same color upholstery as the interior. Though Lexus confirmed the LC convertible for production, it hasn't given any indication as to when it will go on sale. The fact that Lexus is doing photo shoots of the car has us thinking it will be revealed and put on sale in time for the next model year, making November's LA Auto Show a prime choice. It will undoubtedly be fitted with a choice of the 471-horsepower 5.0-liter V8 or the 354-horsepower V6 hybrid powertrain.

Toyota may return to F1 under Lexus banner

A new report in from the website Club Lexus claims to have insider knowledge about a return to Formula One racing by Toyota, this time under the auspices of the Lexus brand. Toyota competed in F1 from 2002 through the 2009 season. That final year saw the team return competitive, if inconsistent results, but the larger economic woes in the automotive market made a decision to pull the plug relatively easy at the time.
Now, citing recent interviews with Toyota executives and insider sources, Club Lexus says that the move to re-enter F1 for the 2014 season is "all but finalized." The choice to go with the Lexus nameplate over Toyota makes some sense, too, considering the success that rival Infiniti has had in recent years through its partnership with Red Bull Racing. Further, the emerging Lexus identity as a performance car builder, with a strong background in hybrid vehicles, could help the F1 move resonate with buyers.
A few technological factors and formula changes within F1 offer some credence to the Lexus rumor, too. F1 will increase the available capacity of KERS from 60kW to 120kW, a change that theoretically benefits the hybrid-savvy Toyota. What's more, 2014 will see a switch from the current 2.4-liter V8 engines to 1.6-liter turbocharged V6s. A Lexus team that goes racing in 2014 will be on a level playing field with the rest of the grid then, with all teams adjusting to and continuing to develop the new engines.

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.