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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.

2019 Lexus NX F Sport gets the Black Line treatment

Lexus is debuting a limited-production NX F Sport Black Line edition at the 2019 Chicago Auto Show. Set to be sold for the 2019 model year only, the Black Line is essentially an appearance package with some added equipment as well — Lexus previously made a Black Line version of the RC coupe with similar results. The package takes a normal NX 300 F Sport and jazzes it up a bit. The NX in this spec is equipped with a 2.0-liter turbocharged four-cylinder making 235 horsepower and 258 pound-feet of torque. Forged 19-inch chrome wheels and a faux carbon bodyside graphic are the main exterior changes. Only three colors will be available for the Black Line, including black, silver and the white you see here. The interior gets colors to complement the exterior, with two-tone white and black seats. A black headliner is standard, as are unique Black Line floor mats, cargo mats and key fob gloves. Extra equipment comes in the form of a new Mark Levinson 14-speaker, 835-watt audio system. This audio setup isn't available on any other version of the NX crossover. Beyond that, the Black Line is a fully-loaded NX with nearly all of the available option boxes checked. Notable upgrades include navigation, blind-spot monitoring, heated/cooled seats, an auto-dimming mirror and moonroof. Lexus is limiting production to 1,000 units for this special edition, which will be arriving in dealerships in February — as in, right about now. It's available in either front-wheel or all-wheel drive. The front-drive version goes for $49,600, while all-wheel drive will run you $51,000 including destination charges. Related video:

Toyota to enter modern turbo four-cylinder era with Lexus crossover

Toyota has sat quietly on the sidelines as many of its competitors have armed themselves in recent years with lower-displacement turbocharged four-cylinder engines in an effort to gain better fuel efficiency numbers and flatter power curves. It's a strategy largely shared by fellow countryman Honda, who turned away from offering forced-induction four-cylinder models in North America after its first-generation Acura RDX failed to find buyers. Toyota itself has no lack of experience with turbo fours, having built some humdingers for cars like the MR2 and Celica All-Trac back in the 80s and 90s. It's also offered factory-warranted turbos through its TRD performance parts division more recently.
Now, Automotive News is reporting that the world's largest automaker is finally poised to rejoin the turbo-four production-car fray in North America, but it won't be a sports car that delivers the first force-fed punch, it will be a new small crossover model for Lexus. We first showed you spy shots of the NX last week in mule form, and Automotive News says the small softroader will carry a 2.0-liter turbo four in its engine bay when it rolls on to world markets in 2014 or early 2015. That model, the NX 200t, will be joined by the NX 300h, a hybrid variant. It isn't immediately clear when US buyers will see the turbo model, however, it's possible that the hybrid could bow first - the story quotes an anonymous company source suggesting that Americans might not see the engine offering until sometime in 2015.
AN further posits that the new 2.0-liter will likely supplant the company's 2.5-liter V6 in the IS sedan and the same-displacement four-cylinder in the Toyota RAV4, but does not indicate where the new engine will be built.