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Lexus planning second flagship alongside LS sedan

Lexus is planning to launch another flagship to slot alongside the LS sedan, but we don't know if it will be a coupe or a crossover. The coupe has been the persistent rumor. Lexus showed the two-door LF-LC concept in 2012 and a production model could borrow its underpinnings from the LS sedan. It's tipped to wear the letters LC or to revive the SC nameplate. The previous SC launched in 1991 as a fixed-roof coupe and offered inline-six or V8 engines. It was replaced in 2001 with the SC430 that had a V8 and a folding hardtop. While the coupe idea may seem like the leading candidate, the company's ambiguity is leading to speculation that the new flagship could adopt a different body-style altogether. "We need a flagship," Lexus general manager Jeff Bracken told Reuters. "It doesn't have to be a sedan." "In addition to the LS, there could be another flagship in our lineup," Bracken said. "We'll define what it is in January." The comments suggest something will be revealed at the Detroit auto show and could open the door to a new flagship SUV or crossover. That position is currently held by the LX 570, which is closely based on the Toyota Land Cruiser. However, sales of the LX have been less than stellar. From the 14,000-plus units Lexus sold of the original LX 470 when it launched in the US back in 2000, annual sales have dropped to just over 4,000 the last few years. Mercedes regularly sells over 25,000 of its GL-Class crossovers each year in the US alone. Last year Audi sold 18,000 Q7s here despite its imminent replacement. Land Rover sold nearly 13,000 Range Rovers last year and another 18,000 Range Rover Sports. Meanwhile, Cadillac typically sells between 20,000 and 30,000 Escalades every year, down from the 50,000-60,000 it sold a decade ago. A facelift is due for the LX that ought to spike sales a little, but Lexus will need more than a refresh to catch up with those rivals. In the meantime, it reportedly plans to roll out a three-row variant of the new RX before its lifespan is over. "We don't want to wait for a next generation" to give the RX the added seating capacity many customers are demanding, said Bracken. Related Video:

Judge halts Toyota unintended acceleration cases, triggers time for settlement negotiations

So far, the lawsuits brought forth against Toyota for unintended acceleration have gone both ways: the automaker was found not at fault in a 2009 California crash and liable for a 2007 crash in Oklahoma. Both cases involved a Camry and resulted in fatalities. With a big chunk of these UA cases (around 200) set to his the docket of US District Judge James V. Selna in Santa Ana, California, Bloomberg is reporting that the judge has halted the lawsuits until March after Toyota and its lawyers have had extra time to try and settle the cases.
According to the article, Toyota is looking to take care of the cases out of court with an "intensive settlement process." Having already paid out $1.6 billion in "economic loss" suits, this latest settlement process is aimed at the wrongful death and personal injury cases allegedly associated with unintended acceleration. A hearing for the settlements will be held on January 14 with conferences on the matter commencing in February. There is no word as to when lawsuits may start back up if settlements can't be agreed upon.

Toyota tops Kelley Blue Book's Resale Value Awards

Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers - mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced in the same week as the ALG Residual Value Awards, and there were many similarities between both lists, especially when it came to Toyota.
To come up with its winners, KBB measures depreciation over the first five years of ownership, and looks for the cars it expects to hold its value the best after this time; on average, the report says the 2013 model year vehicles will lose 61.8 percent of its value in five years. Of the 22 categories, 15 slots were filled by Toyota, Honda and Nissan products, while the Camaro and Porsche (Cayenne and Panamera) each took home a pair of awards. If Toyota has anything to be upset about in this list of cars, it's that categories for Hybrid/Alternative Energy Car and Electric Vehicle went to the Ford Fusion and Chevrolet Volt, respectively.
The overall top 10 models for the best resale value in 2013 are, in alphabetical order: