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Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Lexus ends partnership with Weinstein Co. and 'Project Runway'

Lexus has been a long-time sponsor of fashion reality competition show Project Runway, providing a car to the contest's winner and sponsoring at least one specific "challenge" per season. Only last week, a Lexus NX 200t was featured and used as inspiration for the remaining group of fashion designers. This would seem to be the last season that will happen, however, as Lexus has ended its partnership with the show's production company, Weinstein Co., after sexual harassment allegations leveled at Harvey Weinstein. "Lexus has chosen to terminate its agreement with The Weinstein Company that saw the luxury automaker working with the film studio on certain film and television projects," a company spokesperson wrote in a statement to Reuters. Last week, Lexus indicated it was "evaluating" its relationship with Weinstein Company. One would imagine this delay was the result of that week's episode featuring Lexus substantially more than usual. Related Video:

Like sands through the hourglass, so is the 2014 Lexus GX

Well, that didn't take long. Just days after patent images leaked, Lexus has released pricing and images for its redesigned 2014 GX 460. Our first reaction is... wow, look at the front end on that! The updated luxury SUV features what Lexus calls "a new interpretation" of its now-trademark Spindle grille. The oversized hourglass shape is certainly unique, and whether for good or bad, it's sure to make the GX stand out.
The redesigned GX is set to hit dealerships in September and it starts at $49,085 - nearly $5,000 less than the 2013 model. Along with the new grille, it comes with standard LED headlights and daytime running lights. Inside, the GX boasts a new eight-inch touchscreen display with backup monitor, HD radio with complimentary weather and traffic data, Bluetooth and a vehicle information display. New espresso wood with black trim is also available for 2014.
Of course, the Luxury model, which starts at $60,715, adds even more frills, including navigation, a new Blind Spot Monitor with Rear Cross Traffic Alert, adaptive air suspension and Intuitive Parking Assist. Some of these features are also available on the base model with the addition of the new Premium Package, which Lexus touts "will be at the same price as the base 2013 model year GX 460."