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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.

Lexus NX rolls on wheels made of ice

To create this rolling ice sculpture, Lexus teamed up with London-based Hamilton Ice Sculptors, which fitted the compact luxury crossover with wheels and tires crafted from ice. The sub-zero craftsmen then deep-froze the entire vehicle, stored it at -22 degrees Fahrenheit, and drove it around London – pleasantly surprised to find that it started on the first try. As far as publicity stunts go, the finished product looks even cooler than the cardboard IS that Lexus had crafted a few months ago or the biometric glow-in-the-dark RC F from this past summer. The project took three months of research, design, and testing to carry out. The wheels replicate the alloys on the NX with millimetric precision, right down to the tread pattern, and each one took a team of four craftsmen 36 hours of work to complete. Of course, blocks of ice would have a hard time supporting the weight of the vehicle – especially while in motion – so the frozen wheels were reinforced with clear acrylic discs. And to make it all glow, they were also fitted with in-wheel LED lighting. This isn't the first time we've seen ice sculptors apply their skills to automobiles, following the frozen Canadian Tire pickup, Toyota Land Cruiser, Nissan Cube, and Saab Aero-X we've seen in recently years. But this one is at least as cool, in one sense or another. Scope out the results in the video above, and the process that went into their creation in the making-of video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. LEXUS NX RIDES ON THE WORLD'S COOLEST WHEELS – CRAFTED IN SOLID ICE The concept of driving on ice has taken on a whole new meaning for Lexus, which has crafted the world's first set of working wheels and tyres made from frozen water. Brussels, Belgium - True to its mission of "creating amazing" and inspired by the craftsmanship that goes into every vehicle it makes, Lexus commissioned a team of ice sculpture specialists to explore how ice could be used in place of conventional alloy metal and rubber. After three months' research, design and testing, the finished wheels were fitted to a Lexus NX for the ultimate ice drive. The car itself was deep-frozen, stored for five days at -30°C (it started first time) before being driven off down a London road. The addition of in-wheel LED lighting added an extra dramatic dimension to the cutting-edge contemporary styling of the NX.

2016 Lexus ES shows updated, US-spec face

Lexus debuted the refreshed style for the ES at the Shanghai Motor Show with a much more prominent take on the company's spindle grille. If you hoped the conspicuous schnoz might be toned down for the US version of the luxury sedan, we have some bad news. The US-spec 2016 Lexus ES looks exactly the same. The spindle grille stands as one of the most polarizing styling features on new vehicles today. Rather than soften things, Lexus' designers make the shape even more pronounced for the refreshed ES. The latest take removes the crossbar from the center and outlines the whole thing in chrome. More angular, standard LED headlights make the edges appear even sharper, as do the triangular foglight surrounds at the lower corners. At the back, the taillights feature a more conspicuous L-shape and chrome-tipped, rectangular exhaust tips finish things off on the ES 350. The company also adds some evocatively named colors, including Autumn Shimmer, Nightfall Mica, Caviar, and Eminent White Pearl. Beyond the updated looks, the other major change for the ES is the availability of the Lexus Safety System+ suite of tech. It includes a Pre-Collision System, Lane Departure Alert with Steering Assist, Intelligent High Beam, and High-Speed Dynamic Radar Cruise Control. If all that isn't enough to make you feel more secure behind the wheel, a blind spot monitor with rear cross traffic alert is an additional option. The improvements to the interior aren't quite as drastic as the outside. There's a redesigned steering wheel, shift knob with a leather boot, and more soft-touch materials around the console. New trim colors include Linear Dark Mocha, Illustrious Piano Black, and matte-finish Bamboo. Both ES 350 and ES 300h models are unchanged in terms of powertrains. For a starting price of $38,940, after the $940 destination charge, buyers can get the ES 350 with a 268-horsepower, 3.5-liter V6 and six-speed automatic. For $41,860, customers can order an ES 300h with a hybrid, 2.5-liter four-cylinder making a total output of 200 hp. Luxury, Emboldened: Lexus ES 350 Revs Up Style and Luxury for 2016 Refreshed Look with Bolder Rendition of Lexus Spindle Grille Standard LED Headlights and Other Premium Design Features New Lexus Safety System+ Suite of Driver Assist Technologies Upgraded Interior Finishes Mark Levinson Audio and Panoramic Roof Available with All Packages July 10, 2015 Maintaining luxury leadership requires a relentless pursuit.