After quite literally years of anticipation, Lexus has officially revealed its latest flagship, the LFA. As the automaker’s first supercar, so far, the LFA does not disappoint.

The car’s functional exterior is artfully designed and we’d go so far as to say it looks more impressive than vehicles it rivals – like the Ferrari 599. That body is made primarily of light-weight carbon fiber, as is the chassis, which helps keep the car’s weight down to just 3,263 lbs. When you combine that with a 4.8-liter V8 that revs to 9000 rpm and makes 552-hp and 354 ft-lbs of torque, you get a luxurious exotic that can hit 60 mph in 3.6 seconds and top out at 202 mph!

As for the cost? Yikes! Lexus is charging $375,000. That, however, is the price of exclusivity as just 500 LFAs will be built.

GALLERY: Lexus LFA

Photos by Kevin Duke

GALLERY: Lexus LFA Official Photos

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Toyota has officially unveiled the FT-86, a concept car that is set to inspire an upcoming compact sports car. The name FT-86 brings together Toyota’s past and future, with the “FT” coming from the FT-HS hybrid concept from a few years back, while the “86″ is donated from the AE-86, a small rear-drive, two-door Corolla-based sports car (called the Hachi-Roku), made famous by drifters.

The design of the car in many ways mimics the bold look of the Lexus LFA supercar and yet on a smaller and more subtle scale. Power comes from a 2.0-liter Subaru-sourced boxer engine although the output is not yet known. The production model, like the concept will be rear-wheel drive and is expected to cost around $20,000, undercutting the Hyundai Genesis Coupe as a fun and affordable sports car.

Toyota has never really been in the sports car business but it is making bold statements, saying the FT-86 will have, “racecar-like handling.” We’ll hold our judgment until we get the production model out on a race track.

GALLERY: Toyota FT-86 Concept

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Speaking to reporters at the Tokyo Auto Show, Honda CEO Takanobu Ito suggested that when the time is right he would like to build a “green” sports car. The Japanese automaker faces two big hurdles first, however: a lack of cash as well as insufficient technology. “Once we have that technology and once we have cash on hand, I would like to see Honda have a sports car that symbolizes our technology,” he told Automotive News.

While Honda is set to launch the compact hybrid CR-Z sports car next year, this new car would be a range-topping vehicle with optimum performance and fuel economy. Honda is struggling in the technology department, however, with hybrid systems that are much less efficient than competing systems.

Ito made the comments just after Toyota drew back the covers on its 560-hp Lexus LFA supercar, which uses “old fashioned” internal combustion technology. Earlier in the month he told Reuters that big displacement engines are nostalgic and that the people who like them are, “stuck in the past.” Knowing full well at the time that Toyota was about to debut its new V10-powered flagship, Ito professed that, “The era of V10 engines is gone.”

Until last year, Honda was in development of a V10-powered replacement to the Acura NSX, but Honda canned the project due economic concerns. The concept car’s harsh reviews by the automotive press also, no doubt, had a hand in the vehicle’s demise.

[Source: Automotive News]

Honda announced a production version of its CR-Z hybrid concept will be introduced to North America in the second half of 2010.

As the second version of the CR-Z concept was unveiled at the Tokyo Auto Show, Honda announced the production version will be a sporty 2-seat hybrid, the first hybrid car set up with a manual transmission.

Power for the CR-Z comes from a 1.5-liter gasoline engine mated to an electric motor. This 200cc of added displacement over the 1.3-liter engine found in both the Civic Hybrid and Insight should help put more of a focus on performance.

The production version of the CR-Z will debut in January at the 2010 Detroit Auto Show.

GALLERY: Honda CR-Z Concept

Nissan President Carlos Ghosn has confirmed that the automaker is getting ready to bring several electric vehicles to market, including one sold under the Infiniti brand. Ghosn made the announcement at the Tokyo Auto Show, where the brand officially unveiled the Nissan Leaf electric car as well as the strange Land Glider concept, which is also being studied as a fourth electric vehicle.

An Infiniti electric concept vehicle is currently being prepared that will be a compact four seater with typical Infiniti luxury and style.

No additional details were given, including if the four-seater would be a small sedan or a 2+2 coupe. Regardless, it is sure to take design cues from the Essence concept that was first shown at the Geneva Autpp Show last March.

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It is undeniably the most expensive Lexus, the company has ever created. The LFA supercar, priced at $375,000 is aimed at raising Lexus from a German imitator to an Italian rival. Aimed at cars like the Ferrari 599, the LFA is powered by a 4.8-liter V10 engine with 560 PS (552hp) and 354 ft-lbs of torque and thanks to a six-speed sequential transmission and a weight of just 3,263 lbs, the LFA can hit 62 mph in 3.7 seconds and tops out a 202 mph!

Lexus says the V10 engine they have created is both smaller and lighter than most V8 engines. It also uses 10 individual electronic throttle bodies for the best possible throttle response. As the the body of the car it uses carbon fiber, which is joined to the car’s metal pieces in a special process the Japanese automaker has developed.

As rumored, the car does use a carbon fiber cabin structure (often referred to as a monocoque), which is why the vehicle weighs so little. Until now production vehicles with such a setup were limited to even more expensive vehicles, like the upcoming Aston Martin One-77, which is rumored to cost close to $1.7 million.

Lexus calls the car, “Ultra-responsive and extremely stable even when taken to the edge,” saying that, “the LFA creates a sense of reassurance that opens up a new world of driving emotion, exhilarating the senses to move the driver in more ways than one.” We’ll have to wait until some serious track tests to see if the car performs like it costs.

GALLERY: Lexus LFA

Official release after the jump:

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This video has just been released on YouTube showing for the first time the undisguised production version of Lexus’s LF-A in a photo montage that includes production images of the car as well as some wild driving on the Nürburgring.

The car has yet to be officially unveiled but it is expected shortly as the Tokyo Auto Show kicks off tomorrow, October 21st. (In Tokyo, it is already the 21st).

No official details about the car have been confirmed but it is expected to use a 5.0-liter V10 engine making as much as 550hp and boasting a top speed of over 200 mph. Judging from the video, the V10 engine revs all the way to a lofty 9000 rpm.

In addition, it appears as though the car’s name will remain the same as the concept version, sans hyphen. Instead, it will henceforth be known as the LFA.

We’ll be sure to bring you more details as they emerge.

GALLERY: Lexus LFA

GALLERY: Official Lexus LFA Photos

If the all-new Toyota Sai Hybrid looks familiar – it should. The new Toyota hybrid model is based very closely on the new Lexus HS platform. Sold as a premium Lexus luxury car in North America, the same car will be down-graded somewhat for sale in its home market. Even the design is almost identical (due to aerodynamic reasons), although the Sai does get some half-unique body panels, as well as head and taillights.

Like the HS, the Sai gets a 2.4-liter four-cylinder engine mated to an electric motor and battery pack in true Hybrid Synergy Drive fashion. This is good for a total of 187hp,  a 0-60 mph time of 8.4 seconds and a rather incredible 54 mpg average fuel economy rating. That rating, says Toyota, puts the Sai on par with 660cc micro cars.

The Sai will go on sale soon in Japan as a slightly more up-market and more powerful alternative to the Prius.

GALLERY: 2010 Toyota Sai Hybrid

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You probably haven’t heard of the Toyota Mark X and that’s not surprising considering it isn’t sold in North America. Its also a shame, however, as the largish car is based on the same platform as the Lexus GS, meaning it is rear-wheel drive – with an all-wheel drive option available.

It has a lot more in common with the Lexus than just which wheels put the power to the ground, however, as it comes with high-tech items like an adaptive variable suspension, variable ratio steering, VDIM (Vehicle Dynamics Integrated Management) and even three driving modes (Sport, Snow and Eco) to let the driver choose his driving style.

Power comes from either a base 203-hp 2.5-liter V6 or an optional 315-hp 3.5-liter V6, both with six-speed automatic transmissions. Only the 2.5-liter models are available with AWD.

Toyota has no plans to bring the Mark X to North America, but it certainly would make for a compelling performance-oriented alternative to the Camry or Avalon. The new second-generation Mark X is set to launch tomorrow (October 21st) at the Tokyo Auto Show.

GALLERY: Toyota Mark X

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Nissan is continuing to gauge interest in a new design for an upcoming compact crossover by showing the Qazana Concept at the Tokyo Auto Show. First unveiled at the Geneva Auto Show last March, the Qazana may be a bit on the bizarre side but Nissan insists it will eventually lead to a pproduction crossover that will be built in the U.K. in the near future.

Created by the folks at Nissan’s European design studio, the Qazana is the next step after the Qashqai SUV. “When it comes to design, Nissan has developed a reputation for constantly delivering something different,” said Alfonso Albaisa, Vice President, Nissan Design Europe. “The global success of Qashqai has proven that the car buying public is fed up with the conventional… but we are not prepared to sit on our laurels. Qazana might seem a radical solution but important elements of the concept do point to a future Nissan production vehicle.”

The exterior of the crossover was created by mixing design elements from SUVs and sports cars, as well as from beach buggies and motorcycles. It has a tall stance like any SUV would, but it also features short front and rear overhangs and a low roof-line. As for the rear lights, they mimic a design found on the 370Z.

The notably SUV-like wheel arches work to make the car both masculine but also friendly, as they lend a bubbly and fun feel to the SUV. Those wheel arches are a carryover from the Qashqai design concept and also take inspiration from the Murano SUV.

When it finally does make its way into production the Qazana will be a smaller vehicle than the European Qashqai, which is already smaller than the North American Rogue crossover.

GALLERY: Nissan Qazana Concept