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China fines Toyota $12.5 million over Lexus price-fixing

BEIJING — China's market regulator on Friday has fined Japanese carmaker Toyota Motor 87.6 million yuan ($12.5 million) for price-fixing on its premium Lexus cars in eastern Jiangsu province, according to a document on its website. The decision comes as China steps up regulation over auto sales in the world's biggest vehicle market, where more than 28 million cars were sold last year. The anti-monopoly bureau of State Administration for Market Regulation said that between 2015 and 2018, the Japanese carmaker set a minimum sales and resale price for its cars in coastal Jiangsu province, which deprived dealers of pricing autonomy and harmed customers' rights. Lexus also fixed sales strategies in the region over the period, including offering customers discounts while asking them to purchase accessories at fixed prices, a sales tactic usual among individual auto dealers in China but frowned upon for carmakers. A spokesman at Toyota, Lexus' parent firm, told Reuters the firm acknowledged the penalty and respects the decision. He did not comment further. China's auto sales are declining, but Lexus' sales keep growing. It sold 180,200 vehicles in the first 11 months this year, a 21% jump from a year earlier. In June, China's market regulator imposed an 162.8 million yuan fine on Ford Motor Co's joint venture with Changan Automobile Group for violating anti-monopoly law. ($1 = 6.9927 Chinese yuan renminbi) Reporting by Yilei Sun and Norihiko Shirouzu. Related Video:

2020 Lexus RC F Track Edition will be the most powerful Lexus since the LFA

Toyota and Lexus are pulling out the stops when it comes to sports cars at the Detroit Auto Show. In addition to the real, final reveal of the Toyota Supra, we'll also see a just-announced 2020 Lexus RC F Track Edition. According to a representative from Toyota it will be the most powerful Lexus offered since the LFA supercar. With the announcement of the hot RC comes a teaser image of the car. It shows the requisite giant carbon fiber wing that all hardcore track cars need. The car also appears to be painted in a matte gray, which will undoubtedly be matched with blue accents since blue and gray are the official colors of the Lexus F brand. A particularly impressive design element is how the F logo appears to be woven directly into the carbon fiber of the wing. As for how much power the RC F Track Edition will produce, we can at least guess a range while we wait for the reveal. The most powerful LFA, the Nurburgring Edition, made 562 horsepower, and the regular model made 552 horsepower. The most powerful Lexus on sale right now is the LC 500 with a 471 horsepower V8. At least 500 horsepower seems a safe bet for this special RC F, and it will probably come from a massaged version of the 5.0-liter V8 in the regular RC F and LC 500. Stay tuned for all the details when it's shown on January 14, 2019 in Detroit. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

TMG Lexus LS Sports 650 destined for production after 2015?

There's little question that Lexus has succeeded in challenging its German rivals in the luxury marketplace. And with the LFA, it has proven that Japan can build a world-class supercar. What's left blank is the space in between.
Toyota Motorsport GmbH came up with a compelling answer in the form of the Sports 650 prototype, a Lexus LS with a 5.0-liter twin-turbo V8 producing 641 horsepower and other go-fast components to challenge the likes of the Mercedes-Benz S63 AMG and Audi S8. Toyota boss Akio Toyoda was reportedly so impressed with the project that he initially ordered TMG to build ten examples - one for him and each of his nine best friends. But since the model on which the project was based has since been replaced, questions remain over the project's fate.
Georg Kacher - European correspondent for Automobile and Car magazines - recently drove the prototype and reports that "the project will now likely be transferred to the new model out in 2015." That could come down purely to speculation, but Kacher tends to get the inside line on industry news, so this particular bowl of gossip soup might not requite the usual grain of salt we otherwise might add.