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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.

2014 Lexus IS gets TRD bits

Toyota Racing Development (TRD) in Japan has designed cosmetic and performance bits that give the 2014 Lexus IS a front-to-back workover. Different from the F-Sport parts we expect from Lexus here, the full body kit runs 437,700 yen ($4,285 US) and starts with air deflectors at the lower edges of the front bumper, through to side skirts, a decklid spoiler and a rear bumper with a diffuser and quad exhaust tips.
For 288,750 yen ($2,830) you can sharpen responses with new shocks, springs, dampers, sway bar and bracing. The priciest individual component is the set of 19-inch wheels, four of them going for 527,625 yen (5,170 US). There's no word on US importation or pricing yet, but done up all in black like the IS above, we wouldn't mind seeing it here.

Lexus reveals spindly CT 200h facelift ahead of Chinese debut

If at first you don't succeed, try, try again. So goes the saying, and Lexus seems to be taking it to heart. In addition to the hybrid versions of the Japanese luxury marque's conventional cars, Lexus is intent on offering a dedicated luxury hybrid. The original HS 250h failed to gain traction, so to speak, in the marketplace, and was quickly withdrawn from just about every market but Japan's. Lexus followed up with the CT 200h, exclusively packaging a hybrid powertrain into a premium hatchback form, but while it's been more successful than its predecessor, there's still room for improvement.
That's what Toyota and its premium division are going for with a slightly refreshed take on the CT. Spied completely undisguised (and in F-Sport guise) less than a month ago, the facelifted CT 200h is now confirmed for debut not at the LA Auto Show or the Tokyo Motor Show but at the Guangzhou Motor Show that's set to take place at the same time in China.
Although Lexus hasn't revealed much in the way of details and only two images, it's plain to see that what we're looking at is a mildly refreshed version of the existing CT 200h. The front end is now dominated by the spindle grille that adorns the rest of the Lexus range, flanked by reshaped headlamps. The rear end has been updated as well, but whether the cosmetic changes are joined by any mechanical ones - or, for that matter, if the changes made will be enough to put the hybrid hatchback ahead in the sales curve - remains to be seen.