2010 Scion Tc Base Coupe 2-door 2.4l on 2040-cars

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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.

2016 Scion iM shows some sharp styling from a frugal five-door [w/video]

Scion has been starving for new products for some time, and the entry-level brand has finally gotten two of them at the 2015 New York Auto Show. Of the duo, the iM is probably the more intriguing one because it brings a slightly retouched look for the Toyota Auris across the Atlantic from Europe. While nowhere near as aggressive as the concept from the 2014 LA Auto Show, the production iM is still a fairly attractive five-door. The front air dam features a stylish mix of gloss black and body color touches that look great, and the rear is dominated by a big set of wraparound taillights. It also wears an attractive set of standard 17-inch wheels with a layered effect for the spokes. Buyers have a single engine option, which is a 1.8-liter four-cylinder with 137 horsepower, but the mill can be linked up to either a six-speed manual or a CVT with a stepped-shifting mode. The iM should be easy on fuel bills too thanks to an estimated 37 miles per gallon highway from the most efficient version. Scion's new five-door hatch arrives at dealers this fall, and the brand expects prices to start at less than $20,000. Check out all of the shots in the gallery from the New York show floor for an early peek.

Scion xB won't live past 2015

The grim reaper has trailed the Scion xB for three years, and in 2015, he swings his scythe. Scion VP Doug Murtha told WardsAuto last week that as of the end of this year, the xB will be gone. It will have lived just one year longer than the Scion xD, which was updated for the 2014 model year and at one point had been expected to live until the end of this year. As we've known for a while, the new Scion iM will replace the once-icon xB. Or perhaps that's 'supersede' the once-icon, since even company brass knows that the iM, which is Europe's Toyota Auris five-door hatchback, isn't a replacement for the unapologetic box that was the xB. The xB was one of the cubic trio – along with the first of its kind here, the Honda Element, and the aptly named Nissan Cube – all of which had a hard time figuring out a second act. The Kia Soul is the last of the proud geometric figures, and six years into its run here it is doing better than ever, 2014 being a record year for the model. The xB was well into its decline after the same amount of time on the market. Cars Direct says that if you want an xB then you shouldn't wait, and, "It might be a good idea to make a move soon." On the other hand, CD advises that "if you're looking for a better deal," then it's the Kia Soul you want. Insert that chestnut here about the mighty, and the falling. Related Video: