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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.

Toyota updates Euro-market GT86 suspension, appearance

While we were busy ogling the Scion FR-S Release Series 1.0 with its Yuzu yellow paint and a workover by Toyota Racing Development, and the Japanese Toyota 86 buyers were trying out their Playstation-compatible Sports Drive Logger telemetry system, the European 2015 Toyota GT86 got fitted with some new parts of its own. New on next year's model are stiffer mounts for the front suspension and rear shock absorbers, and new shocks in the back for better damping and less friction. Toyota says the result is sharper steering and less body roll.
Inside, the instrument panel and center console get decorated with a "carbon-fiber motif." There are new shades of pearl white and silver to dress up the outside, and the roof gets a shark-fin antenna for sharper looks and aero. It goes on sale this summer, and you can read everything we just told you in the press release below. We've reached out to Scion to see if we'll get the same upgrades on the FR-S this summer, too, company PR rep Nancy Hubbell telling us, "The European changes are among those being considered for the US model FR-S and we'll have final confirmation soon."

The last new Scion is this tC Release Series 10.0

"We're not dead yet!" That's the message Scion will send next week at the New York Auto Show when it takes the stage with its very last brand-new car, the tC Release Series 10.0. For its final act, the tC gets an aero kit by JDM designer Ken Miura, consisting of a front lip spoiler, new rocker panels, a lower rear spoiler, and a little wing on the deck. Blacked-out Scion badges and gloss black alloy wheels contrast against this tC's unique Barcelona Red paint. It's not all for show, either. The Release Series 10.0 includes TRD lowering springs and TRD-tuned dual exhaust. Inside, black and red pours onto the new seat inserts, and there's similarly-toned contrast stitching on the shift boot, parking brake cover, and steering wheel. Only 1,200 examples will be built, available with a six-speed manual or automatic transmission. The manual car will go for $23,985, and with the six-speed auto, add $1,150. It's all very fitting – Scion was introduced to the US at the New York show in 2002, and over the past 14 years, the tC was the brand's most popular car (and one of its longest-running). To commemorate the occasion, Scion will also show some of its most popular showcars, including the original 2002 BBx concept, 2009 iQ concept, and 2011 FR-S concept – the "Friggin' Really Sweet" car, if you recall. Scroll down for the official "Scion-ara" (yep) announcement. Related Video: Scion-ara Celebration at New York International Auto Show Includes JDM-inspired tC Coupe and Classic Concepts TORRANCE, Calif. (March 16, 2016) – Scion is not going away quietly. With a final Kei Miura-inspired tC Release Series 10.0, a display of some of its most impressive project cars, and cool swag, the Scion by Toyota booth is sure to be a flurry of activity at the New York International Auto Show, March 25 – April 3, 2016. It's only fitting that Scion closes its auto show history at New York since that's where it all began. Fourteen years ago Scion debuted its first concept vehicles and announced the new youth division for Toyota that would be a laboratory for experimentation and introduce new products and processes. That commitment to innovation carries through to the debut of Scion's final Release Series vehicle for the tC sports coupe, Scion's most popular car.