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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 ES gets a tech-focused mid-cycle update for the 2022 model year

Lexus traveled to the 2021 edition of the Shanghai Auto Show to unveil the updated ES. Scheduled to launch as a 2022 model, the sedan ushers in a long list of handling, comfort, and technology improvements. Most of the major changes are found in the cabin, where the ES finally receives a touchscreen-based infotainment system. Entry-level models ship with an 8.0-inch screen, while upmarket versions receive a 12.3-inch display. Both are positioned 4.3 inches closer to the front passengers; it was easier to move the screen than to give buyers longer arms. The touchpad-like remote interface located on the center console, next to the gear selector, remains. Lexus also updated the technology motorists can't see but regularly rely on. The Lexus Safety System+ 2.5 suite of electronic driving aids comes standard across the line-up, and improvements to the camera and the millimeter-wave radar increase the pre-collision system's response range. Intersection Turning Assist, which can detect if the driver is about to turn in front of an oncoming car or a pedestrian, joins the roster of safety systems. Also new are Emergency Steering Assist, Curve Speed Reduction, and a function that automatically increases the car's speed if the driver is about to pass a slower car. Lexus points out it made its Lane Tracing Assist feature smoother, too. Although the ES has traditionally leaned towards the comfort side of the luxury sedan scale, Lexus made small but meaningful tweaks to improve handling with the help of Toyota president Akio Toyoda, an enthusiast who regularly races a Supra. Engineers fitted a new rear suspension brace to increase torsional rigidity and stability, while the non-hybrid model's brake master cylinder and brake booster were redesigned to provide a more linear feel. Every ES gets a bigger brake pedal, and hybrids benefit from improved pedal feel, according to the company. Subtle exterior revisions, such as a redesigned grille and new-look headlights, set the 2022 ES apart from the outgoing 2021 model. New paint colors and additional wheel designs round out the list of major exterior updates. Lexus added a hybrid F Sport model to the portfolio. Called ES 300h F Sport, it gains a mesh grille with a dark frame, a spoiler on the trunk lid, 19-inch wheels, and an array of sporty-looking interior accents. Motorists who want a bit of go with their show can order the optional Dynamic Handling Package (DHP) available only on the V6-powered ES 350 F Sport.

The 2016 Lexus RX is more of everything [w/video]

Both literally and symbolically, the RX is Lexus. The crossover accounts for more than a third of the brand's overall sales. Last year Lexus moved 107,490 RX 350s, almost as much as every BMW SUV combined. The first-generation RX 300 was such a hit it forced other luxury automakers to follow suit. And the outgoing third-gen model epitomizes the current challenge Lexus faces: it's comfortable, but boring – exactly like the reputation the brand wants to shed. The new 2016 Lexus RX, then, is the Lexus weathervane. In short: more style, space, and technology while retaining the plushness that keeps current owners happy. As is current Lexus tradition, the RX gets a massive spindle grille. And while there are more creases and character lines than before, the overall styling is softer than the angular NX. The conservative approach shows that Lexus took a cautious approach to its cash cow, while using lower-volume models like the RC coupe to push boundaries. Still, Lexus has made an honest attempt at sporting up the RX. The RX 350 retains the 3.5-liter V6 but gets a 30-horsepower boost to 300 hp, and the RX 450h now makes 300 ponies as well. In all-wheel-drive guise, both models can be had in F Sport trim, which brings exterior tweaks like 20-inch wheels and a unique instrument cluster. F Sport models also include an active stabilizer system to minimize roll in corners. All RX models also come with dampers and steering that automatically adjust to the driving situation. Inside, the new RX is loaded up with features, like a standard 12.3-inch infotainment screen and an optional color head-up display. A list of electronic safety features is too long to mention, but includes collision mitigation, lane-keeping assist, and automatic high beams. See the press release below for the full rundown, or just trust us when we say you can get the RX with almost every driving aid out there. The rear seats now feature a power-fold feature, and when the seats are up second row passengers are treated to more leg- and knee-room. That extra interior space comes from an overall stretching of the RX. Wheelbase grows 1.9 inches, while length is up almost five inches. What the new RX doesn't yet have, but we're told is on the way, is a third row of seats. The added versatility of a seven-passenger version should broaden the appeal of the RX to a wider audience. Expect to see the RX 350 and RX 450h in showrooms by the end of the year, with the three-row version coming sometime in 2016.