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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 UX 200 and UX 250h: Full details and specs from Geneva

Lexus is perhaps overdue to produce a small luxury crossover, in the vein of the hot-selling Buick Encore (which is a tiny bit smaller). And like the Buick Encore, it has a lower-tier brand counterpart: the Toyota C-HR, which is to the UX as the Chevy Trax is to the Encore. But enough about the Buick. What's the 2019 Lexus UX all about? For one, it is almost as outre as the C-HR, which is perhaps more radical because it's a lowly Toyota. Graced with a spindle grille and interior fixings that are influenced by, Lexus says, traditional Japanese crafts, it appears to be every contemporary Lexus trope combined into one compact vehicle — just 177 inches long in total, or about 5 inches shorter than a contemporary Corolla. That'll be good for the urbanites the UX is intended to woo, who need to park in tight spots. For wider, more open spaces, there are two powertrain choices. The 2019 Lexus UX 200 is one of the first applications of the new Dynamic Force Engine, a 2.0-liter inline-four with extreme thermal efficiency: 40 percent, Toyota claims. Read more about that engine (and the Direct Shift CVT, which the UX 200 also utilizes). The bottom line is, for the driver, the engines will be more fuel efficient and produce 168 horsepower, which represents an increase of 24 horsepower over the C-HR platform-mate, a sizable jump. The Direct Shift CVT should prove to be a more important improvement, offering more natural response when starting off from a stop. Anyone with CVT experience knows that this isn't a strong suit of that transmission type, even with years of attention paid to refining the experience. It's nice to see the sort of clever, driver-focused engineering that created the bizarre Lexus LC "10-speed" found in the LC 500h, which uses an e-CVT and a conventional automatic. It sounds strange and complex, but it works beautifully. We expect Direct Shift CVTs to be a serious improvement over the company's e-CVTs, and can't wait to test this aspect of the UX 200. The UX 250h snags the Dynamic Force engine and slaps a new hybrid system into it. Lexus expects the total output to be about 176 horsepower, which takes into account a rear axle electric motor (which makes the UX 250h all-wheel drive). That rear motor can accept up to 80 percent of available power at up to 43 miles per hour. It's not clear from the specs provided if the gasoline engine output differs from the UX 200.

Lexus LC convertible could appear in 18 months, LC F to follow

Auto Express reports that Lexus has a approved a convertible version of the LC, and is close to green-lighting a high-performance LC F trim. The Detroit Bureau reported that the same two models were in development one year ago, citing Lexus sources at the Detroit Auto Show who told the outlet "a number of additional variants" would follow the coupe's launch. The timeline's been stretched a bit between then and now; instead of getting the convertible this year, Auto Express says the "done deal" droptop should arrive in 18 months to two years. It's harder to read what we might get in an LC F. Gossip is that the naturally aspirated, 467-horsepower, 5.0-liter V8 wouldn't be the right motor for a hot LC. That V8 serves in lower-tier F models. so word is that Lexus engineers are considering a 4.0-liter, twin-turbo V8 with around 600 hp. Lexus chose the BMW 650i, Mercedes-Benz S-class coupe, and Jaguar F-Type as competitors to the LC, all of which have convertibles and high-performance trims. Among the specially-tuned challengers, the Jaguar F-Type R comes in with the lowest power figure at 550 hp. Both models would return Lexus to a small, exclusive end of the market where it hasn't held a membership since 2010. Rejoining that soiree — a party hosted by the Germans, because these matters always come back to the Germans — is another huge, and costly, step toward shedding Lexus' somnolent image. Akio Toyoda said the goal for his luxury arm was "that the words 'Lexus' and 'boring' never appear in the same sentence again." A three-model lineup would give the LC a genuine chance to contribute to that aim. Related Video: Featured Gallery 2018 Lexus LC 500 First Drive View 44 Photos News Source: Auto Express Rumormill Lexus Convertible Coupe Luxury Performance lexus lc 500