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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 still planning seven-seat crossover

In case you're thinking, "But Lexus already has a seven-seat crossover in the GX 460," that's actually a proper SUV - the body-on-frame kind with the massive footprint and floaty handling. A report in Automotive News says that Lexus is trying to figure out how to produce a true crossover with space for seven humans, with the options narrowed down to growing the RX (pictured) or sorting out a brand new model.
How badly does the brand want it? Its chief told AN that another row is first on the list of dealer requests, that the offering could be worth 35,000 more sales per year and they don't care if it eats into five-seater RX sales - "We want it." But hey, when 40 percent of monthly sales are made up of the RX, and Lexus moved more than 103,000 of them in 2013, it's understandable that the company wouldn't mind risking a small hit for the chance to increase sales by a third of their current levels.
Toyota applied to trademark the name TX and that's already been mooted in reports as a replacement for the GX, said to end its life in 2016. The latest report, however, suggests that the GX might not go away since it's "highly profitable for the automaker, even at low volumes," and that "TX coding could merely be for a seven-seat variant of the RX 350." AN also wonders if this larger hauler would stay on the recently lengthened Toyota Highlander platform, which offers meager third-row seating, or switch to the rear-wheel-drive platform used by the IS and GS for tauter responsiveness. With Lexus saying it will be at least two years before it could be brought to market, we have a while to wait yet to find out.

MT digs deep, learns more about hot Lexus RC coupe

As we patiently wait for the all-new Lexus RC to be unveiled at the Tokyo Motor Show in November, Motor Trend has dug up some tasty info on the Japanese automaker's new coupe for us to discuss. While we already knew some speculative, but credible, details on the upcoming two-door Lexus, MT reportedly has the dish on some details of the hotter RC F coupe (shown in the spy shots above).
The article says that the F will carry a six-figure MSRP and use a 455-horsepower, 5.0-liter V8 with cylinder deactivation, mated to an eight-speed automatic transmission. Carbon fiber body components will help reduce curb weight, and the scooped hood is said to optimize aerodynamics as the car will reach a top speed of around 186 miles per hour. Specific high-speed handling improvements include specially developed Brembo brakes, a beefed-up suspension, Michelin Pilot Sport PS2 tires and an automatic decklid spoiler.
As for other RC models, MT mentions the hybrid and V6 variants we already heard about, but it also says that the car could get a 2.0-liter turbo engine. This will probably be the engine used in the base model, which is expected to start at around $40,000. Head on over to Motor Trend for the full article, including a rendered image of the RC F.