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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.

Best Large SUVs of 2024

When it comes down to large SUVs, there's more to consider than price and just how large it is. First, it comes down to what's underneath the skin. Some are built on a truck-like body-on-frame chassis — this would be the traditional, literal definition of an "SUV." Others use car-like, unibody construction, which would make them a crossover. What really matters, though, is how you use them. For most American families, a large three-row crossover is going to be your best bet. They have loads of passenger and cargo space, and deliver superior fuel economy, handling and ride quality than those big traditional SUVs. They're cheaper, too. On the other hand, those traditional large SUVs like the Chevy Tahoe and Ford Expedition are better-suited for more heavy-duty tasks like towing. Most now have bigger third rows than big crossovers, while extended-length versions like the Chevy Suburban have way more cargo capacity behind their third rows than everything but an airport shuttle. As for luxury large SUVs, they fall into those same two categories as well, with American choices mostly being truck-based. The pros and cons of choosing one over another are similar. Below, you will find our list of the best large SUVs broken down into three categories: large family crossover, large traditional SUV and large luxury SUVs, which comprise both construction types.  Best Large Family Crossovers  |  Best Large Traditional SUVs  |  Best Large Luxury SUVs Best Large Family Crossovers 2024 Honda Pilot Why it stands out: Exceptional storage and cargo space; unique second-row functionality; refined ride; versatile and capable TrailSport; advanced AWDCould be better: Subpar acceleration with lackadaisical transmission and engine response; so-so driver assistance tech Read our full 2024 Honda Pilot Review The Honda Pilot was completely redesigned for 2023. It maintains its predecessor's family-friendly packaging and overall focus, but it has injected a welcome sense of style (especially in the TrailSport pictured above) that makes it stand out much better from the big crossover crowd. The Pilot's restrained adornment and classic proportions are refreshing compared to the increasingly busy Kia Telluride, Hyundai Palisade and Subaru Ascent. Let's talk about practicality, though, which is ultimately the Pilot's best attribute.

2021 Lexus NX 300 and NX 300h stick to the formula

After placing the limited-run NX 300h F Sport Black Line Special Edition at the top of the range, Lexus has announced few changes for the rest of the NX lineup going into 2021. For its sixth year on the market, on the exterior of the compact luxury crossover, Blue Vortex Metallic slips off the color wheel, replaced by Nori Green Pearl. The deep forest hue dazzled recently on the 2020 Lexus LC 500 Inspiration Series. Less visible to outsiders, NX models get low-profile windshield wiper blades, and power-folding, auto-dimming, reverse-tilt mirrors. Revisions to the standard interior have been confined to a revised horn pad, and a slightly different red zone on the tachometer, but Lexus didn't clarify what that last point means. Among the feature set, every NX will include blind spot monitor with rear cross traffic alert in the driver safety technology that's grouped under the Lexus Safety System+ 2.0 banner. Turning to the options sheet, ordering the Navigation package will include the HomeLink garage door opening system, and the Mark Levinson audio system comes with an updated amplifier.   After that, what we're already familiar with from the NX lineup carries on. That means three trims, the NX 300, NX 300 F Sport, and NX 300h, plus the NX 300h F Sport Black Line until they're all sold. Engine choices are a 2.0-liter four-cylinder with 235 horsepower and 258 pound-feet of torque on the non-hybrid models, and a 2.5-liter Atkinson cycle four-cylinder engine in the NX 300h that works with three electric motors to produce a total combined output of 194 horsepower. The non-hybrid NX trims get a six-speed transmission, the hybrid employs a CVT. Related Video: