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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:

10 electric cars we’re excited are coming soon

If you were considering buying an electric vehicle a couple years ago, we wouldn't fault you for thinking your options were limited, both in terms of quantity and quality. You just might not have been able to find an electric car that would suit your needs, lifestyle or budget. With the newest generation of EVs that have launched in the past year or two, your options have changed — and improved — dramatically. If you still don't see an EV you like, just wait a little while longer. It won't take long. There are a whole lot more on the horizon, and the problem may soon be in narrowing down your options. To give you an example, here are 10 electric vehicles we're excited about that you'll be able to buy very soon, from GM, from Germany, from Japan and more. Some of these will be available by the end of the year, and all are expected to launch by the end of 2023. The Chevy trio: 2024 Blazer EV, Equinox EV and Silverado EV GM is stepping into the future with strong footing. Following high-end electric launches from GMC (Hummer EV) and Cadillac (Lyriq), Chevrolet is bringing three electric vehicles with familiar nameplates. The 2024 Chevy Blazer EV (above left) will offer a number of versions, starting with the 2LT and RS trims in the summer of 2023, followed by the 557-horsepower SS in the fall and the base 1LT in early 2024. The 2024 Chevy Equinox EV (above right) will go on sale in fall 2023 as a limited-edition model, with volume sales ramping up in 2024, with a base cost of “around $30,000.” For those who prefer a bed to a liftgate, the 2024 Chevy Silverado EV is an electric pickup that looks more like the old Chevy Avalanche than the current Silverado. The WT (work truck) trim launches in fall 2023, while the 664-horsepower RST will follow in 2024. Read more: 5 new electric car companies coming in 2023 and beyond 2023 BMW i7 BMW revealed the all-electric 2023 i7 luxury sedan alongside the gas-powered 7 Series. It should go on sale before the end of 2022. The i7 xDrive60 will be the only variant, with its two motors providing a total of 536 horsepower and 549 pound-feet of torque, and its battery expected to offer a range of about 300 miles. Just like its internal combustion counterpart, this full-size sedan wonÂ’t come cheap, with the i7 starting at $120,295. 2023 Hyundai Ioniq 6 Following the Hyundai Ioniq 5, Kia EV6 and Genesis GV60, the 2023 Hyundai Ioniq 6 will be the fourth car using Hyundai GroupÂ’s E-GMP electric car architecture.

2019 Lexus ES is first mass-produced car to replace side mirrors with cameras

Concept cars have been trying to replace side mirrors with cameras for decades, and now Lexus is actually going to do it on a production car. There's one important caveat though: It's only for Japan. First implemented for the recently redesigned (and recently reviewed) 2019 Lexus ES, the side mirrors are being replaced with small, aerodynamic camera stalks. Those small cameras tucked into the stalks provide a constant video feed to five-inch screens placed at the base of the car's A-pillars. The biggest reason manufacturers are pushing this kind of tech is to improve aerodynamics. Swapping those side mirrors out for something much smaller creates less drag, and ultimately, better fuel economy. Lexus says there are a couple other advantages for going digital here too. For one, the camera modules are able to resist the accumulation of raindrops and snow due to their design. There's also less wind noise since the mirrors cut through the air so well. This will become even more important as silent electric cars trickle their way onto the market. The actual visibility is supposed to be better as well. Lexus says that the view is "enhanced" when you activate a turn signal, and helps provide better rearward vision when put into reverse — think Honda LaneWatch, but way cooler. We won't be seeing this futuristic-looking side mirror technology in the U.S. for some time, because it's still not legal here. The technology is legal to use in Europe, but Lexus says it'll only be offered in Japan for the time being. Audi, though, will be bringing its side camera mirror technology to Europe by the end of the year with the E-Tron. There's still no release date on the electric SUV, but it might be the first to market with the tech on that continent. Audi wants to bring side mirror camera technology to the U.S. in its E-Tron, but the regulations still need to be changed to allow that here - the E-Tron is expected to be for sale in the U.S. sometime in 2019. Buyers in Japan will be able to scoop a Lexus ES with the tech this October. Related Video: