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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.

2019 Lexus LX 570 Drivers' Notes Review | Long in the tooth

Body-on-frame SUVs like the 2019 Lexus LX 570 might have ruled the market a couple decades ago, but the old-school form factor has given way to smaller, more efficient car-based crossovers. That said, there's still a big market for models like this. Just take a look at the success of the Toyota 4Runner or other luxury SUVs like the Cadillac Escalade or the Ford F-150-based Lincoln Navigator. Crossovers may be more popular, but nothing beats an old-school SUV's chops when it comes to going off-road or towing big cargo. The Lexus LX is available in two flavors: a five-passenger two-row model and a seven-passenger three-row model. We had a chance to drive both, the first in Michigan and the latter in Oregon. There's a $5,000 difference between the base price on the two models. Both models had the $1,190 Luxury Package (upgraded leather, heated and ventilated front seats, heated second row and LX puddle lights). The three-row came with quite a few more options, including a heads-up display, a cool box in the console, a Mark Levinson audio system and a dual-screen rear entertainment system. All in, our two-row tester came out to $88,195 while the three-row would set you back $99,710. Senior Editor, Green, John Beltz Snyder: I like the design of the LX, and I can even overlook the giant spindle grille. I love the behemoth's boxy proportions, rounded out just ever so slightly, though I do think Toyota's version looks even better, and the Lincoln's Navigator even better yet. Inside, the LX is comfortable and roomy, with really nice materials everywhere you look and touch. It's still got that mousey Remote Touch interface for the infotainment system, though, which leaves much to be desired. On the road, I noticed immediately that its adaptive air suspension is better than the more conventional setup in the Toyota Land Cruiser. It's just slightly less eager to see-saw when coming to a measured stop. Coming to a measured stop, though, is the problem. The brakes in this thing are super touchy, like an on/off switch. It makes every stop feel like an emergency, whether you mean to or not. Then, no amount of suspension tuning can keep a beast like this from taking a nosedive. The amount of concentration it takes to keep this thing from panicking any time you use the brakes is mentally exhausting over time. I'm just glad I didn't have anyone in the passenger seat. Lastly, this thing guzzles premium fuel.

Toyota and Lexus recalling 235,000 hybrid CUVs and sedans over separate issues

When it rains, it pours. Toyota has announced a pair of separate but voluntary North America recalls covering approximately 235,000 vehicles built between 2006 and 2011. The larger of the two recalls targets Toyota's hybridized crossovers, the Lexus RX400h and Toyota Highlander Hybrid. 133,000 units, including 2006-2010 Highlander and 2006-2008 RX crossovers are covered in the campaign. The other recall affects 102,000 IS350 sedans, IS350C convertibles and GS350 sedans built between 2006 and 2011.
With the CUVs, the faults in the parallel circuits of the transistors can cause heat damage in the inverter assembly, triggering an abundance of warning lamps and sending the vehicle into limp mode. The Lexus sedans are being recalled due to loose bolts on the variable valve timing controller. Detected by unusual underhood sounds on startup, the issue can cause the engine to stop while driving. The inverter issue is also triggering similar recalls in Japan and Europe.
At the moment, it's unclear if any of these issues have caused any crashes or injuries. Toyota says it plans to notify owners of the recall via snail mail. Additional information for owners can be found on the recall sites for Toyota and Lexus or by calling Toyota's customer service line, at 1-800-331-4331. Scroll down for the complete recall notice from Toyota.