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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 to debut small hybrid CUV at 2014 Geneva Motor Show

Following rumors that Lexus has been working on a small crossover to slot below the RX (pictured), Automotive News Europe reports that the production-ready CUV will bow at the 2014 Geneva Motor Show next March. Later this year, Lexus will preview this new crossover by way of a concept car at the Tokyo Motor Show in November.
According to the report, this new crossover will be a hybrid, and will ride on the smaller architecture that underpins the Toyota RAV4. Specific details have not been confirmed, but AN states that the entry-level CUV will be powered by the same 2.5-liter gasoline-electric drivetrain found in the Lexus ES 300h. Since Toyota will evidently be taking the time to hybridize the platform, we can't help but assume that it will eventually build a second-gen RAV4 EV.
Either way, with the small luxury CUV segment heating up, Lexus is likely smart to offer a player in this space. Until now, there has not been a Lexus crossover below the RX, and this new model will compete with other new players in the class including the BMW X1 and Audi Q3.

2019 Lexus GS F 10th Anniversary Edition Drivers' Notes Review | Nothing gray about this sedan

The Lexus GS F is an old-school performance sedan with a big, naturally aspirated engine up front. You won’t find the phrase twin-turbo anywhere in its press materials, and thatÂ’s completely fine. With 467 horsepower and 389 pound-feet of torque, the 5.0-liter V8 isnÂ’t going to outrun the high-powered Germans in a drag race. However, all of that power is usable on the street, right up to the glorious 7,300 rpm redline. A loud exhaust complements the loud styling on our particular test car. We had the honor of driving the 10th Anniversary Edition, which is limited to just 100 vehicles in the U.S. You pay extra for the special appearance, but man it looks good. Matte Nebula Gray paint wraps the exterior, while unique Fuji Blue leather trim covers the interior. Blue Brembo brake calipers behind BBS forged wheels keep the blue theme going on the outside. Michelin Pilot Sport tires come standard, providing an impressive amount of grip for the big sedan. Much of the magic to this anniversary car is thanks to the stunning blue interior — it even has blue carbon fiber and blue suede trim. Rear-wheel drive is the only way it comes — same goes for the eight-speed automatic transmission. The final price for our GS F 10th Anniversary Edition car comes out to $93,080. ThatÂ’s after the $5,000 anniversary package, $1,380 Mark Levinson audio and $900 head-up display. It still comes in under $100,000, which makes it cheaper than the M5 or Mercedes-AMG E 63 S sedan. Senior Editor, Green, John Beltz Snyder: I'm going to start off with something that might not be universal: I love this interior. I think the blue Lexus used here is to die for. The white stripes going down the center of the blue leather sport seats mirrors the blue steering wheel with white at top center. Those seats are actually pretty comfortable and super supportive, too. The blue microsuede-type liner on the dash is a little much, but in this case, a little much feels entirely appropriate. The blue stitching and even the blue-accented carbon fiber trim pop in this interior, mirroring the hint of blue spied on the brake calipers through the dark wheels outside. Finally, you might hate the mouse-type infotainment interface (this one managed to not piss me off entirely), but it looks cool inside this GS F. Lexus GS F 10th Anniversary Edition View 7 Photos Assistant Editor, Zac Palmer: I love that Lexus still uses big, naturally aspirated V8s in its performance cars.