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Lexus parts prices cut in China amidst antitrust fears

It's been a topsy-turvy summer for foreign businesses in China ever since that country's National Development and Reform Commission and State Administration for Industry & Commerce launched a horde of investigations into anti-monopoly practices. When the law outlining monopolistic behavior was passed in 2008 foreign companies appreciated it, expecting it to illuminate some of the more opaque corners of Chinese government enforcement. That hasn't exactly been the case, and now as more than 1,000 auto-sector firms get investigated and pay huge fines to settle the nebulous charge of having prices that are too high, that hoped-for clarity is all but gone.
A recent news report said Audi, Chrysler and Daimler "would be punished for unspecified violations" concerning the prices of spare parts. Earlier this month Toyota said that Lexus China was being looked at, and before there's been any public notification of punishment Lexus has decided to lower the price of its replacement parts. From next month, customers will save an average of 26 percent on roughly 15,000 parts. It's unknown whether the move will appease authorities enough to end the investigation, which outside analysts have said targets foreign firms in China over domestic industry.

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 reportedly debuting a trio high-performance, V8-powered F models

The V8 engine may not be long for this world, but before it disappears forever Lexus may give it a proper sendoff with a trio of eight-cylinder F cars. If reports out of Japan are true, Lexus is working on high-performance F variants of the IS and LS sedans, as well as the LC flagship coupe. The story comes form Japan's Best Car magazine, which claims the Lexus IS F will soon be making a return. Based on the updated 2021 Lexus IS, it will run an up-tuned engine that puts out 474 horsepower and 395 pound-feet of torque. That's a 58-horse and 24-lb-ft increase from the last IS F. To be honest it would be a bit surprising to see an IS F at this point, as the previous, third-generation IS skipped an F version. And since the 2021 IS sedan is based on that same platform, it seems Lexus would have introduced an IS F successor much earlier if one was in the cards. As much as we would love to see the IS F return, we won't hold our breaths for this one. Still, an IS F would be nothing, shock-wise, compared to what comes next. Best Car says Lexus will introduce an LS F to go up against the Mercedes-AMG S 63 and BMW M760Li. Power would come from a new 4.0-liter twin-turbo V8 making 661 hp and 480 lb-ft of torque. If true, this would drastically counter the LS's mission of smooth luxury that's been its raison d'etre since 1989. Out of the three, the car that makes the most sense to us is the LC F. It's been rumored for quite a while. We even saw spy shots of the car testing in 2018, but then came chatter that the car was canceled due to the COVID-19 pandemic. According to Best Car, it's back on (or was never canceled) and will share a mill with the LS F. The report also says that all three cars have sport suspensions and chassis improvements that properly harness the power of these engines. Lexus has proven it can build compelling high-performance cars like the IS F and GS F, which were far better than what their sales numbers indicated. Furthermore, the Lexus V8s themselves are machines of engineering beauty, amazing throttle response and glorious sound. Naturally, we'd welcome any of these cars, even as we take the article with a massive grain of salt. Related Video: