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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 promises to unveil two updated models at Pebble Beach

Lexus has announced it will stage the global debuts of two updated models at Pebble Beach later this week. But it isn't saying which models they will be. However we can take an educated guess or two. Two of the oldest nameplates in the Lexus lineup at present are its flagship models: namely, the LS sedan and the LX sport-ute. The original LS was first introduced back in 1989, with the current fourth-generation model rolled out in 2006. (That's the Pebble Beach edition of the 2009 LS 600h pictured above.) It's undergone incremental updates in the decade since, with the last one having arrived in 2012. With much newer examples of the Mercedes S-Class and BMW 7 Series having recently been launched, Toyota will likely want to keep its flagship sedan up to date and competitive with newer rivals. Meanwhile the LX first launched in 1995 as a rebadged and luxed-up version of the Toyota Land Cruiser. The current third-generation model arrived in 2007, and was updated in 2012 alongside the aforementioned LS sedan. Sales of the LX have been floundering, spurring Lexus to potentially launch an entirely different flagship crossover to take its place. But before that happens, it is expected to launch another facelift for the existing model. Photos of that updated version have already leaked out and begun circulating, so we wouldn't be surprised to see the new LX 570 debut in Monterey as well. Both are expected to adopt more aggressive styling in line with other, newer models in the lineup, along with the latest technologies Toyota has to offer. Whatever form they take, we won't have to wait long to find out what Lexus has in store for us. The unveiling of both its freshly updated new models is set to take place on Thursday, so watch this space. Related Video: MEDIA ADVISORY - LEXUS TO UNVEIL TWO UPDATED MODELS AT PEBBLE BEACH August 10, 2015 -- Lexus plans to stage the global premiere of two updated models in Pebble Beach during the days leading up to the 2015 Concours d' Elegance. The reveal will take place at 7 p.m. PDT, Thursday, Aug. 13, and all materials will be available on www.LexusNewsroom.com simultaneously.

Lexus ES 300h gets optional side-view cameras and monitors in Europe

In select European markets, Lexus is expanding the availability of one of its newest and most futuristic features. Starting in March, 2020, the ES 300h will have an option for digital side-view cameras and monitors.   Lexus first introduced its side-view cameras and monitors on a production car when it added the tech to the Japanese-market 2019 ES sedan in 2018. Typical side-view mirrors are replaced with camera stalks, which feed video into small five-inch digital displays attached to the front corners of the car's interior.  To ensure an optimum high-definition view at all times, the cameras have numerous weather-proofing features. Built-in heaters prevent freezing, and the aerodynamic design is also shaped so that rain and snow should not affect the quality of the recording. The cameras also have demisters that have their own dashboard switches, as well as a light sensors that help curb headlight glare.  In addition to maintaining quality, the tech has built-in driver aids. When a turn signal is activated, the monitors will automatically show an "extended view" that helps eliminate blind spots. That feature can also be manually activated. Guidelines are also introduced to the monitor when the car is parking or in traffic.  Like normal mirrors, the cameras can be adjusted through controls on the doors. The system has adjustable brightness and the option for automatic camera retraction, too. As pointed out by CarScoops, the option is already available on the ES 300h Takumi on the United Kingdom Lexus configurator. The total package is priced at roughly $2,000, with each of the cameras and monitors accounting for a quarter of the cost. Lexus plans to show off the ES 300h with side-view cameras at the 2020 Geneva Motor Show in March, and the option will be available immediately in the U.K., Germany, Spain, and Poland. The rest of Europe will get it before the end of 2020. Meanwhile in the U.S., the National Highway Traffic Safety Administration (NHTSA) is still testing and debating the safety of the technology. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Kia Blindspot Monitoring System | 2020 Autoblog Technology of the Year Disclaimer: Autoblog accepts vehicle loans from auto manufacturers with a tank of gas and sometimes insurance for the purpose of evaluation and editorial content.