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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.

Scion's SEMA show cars display tuner creativity [w/videos]

Scion brought four FR-S concepts to SEMA this year and one xB concept, while another three Scion tCs were brought to the show by three different shops that are competing in Scion's Tuner Challenge. The modified Scions range from mild to insane, and show how popular they are in the tuner world.
The Tuner Challenge teams brought unique creations to SEMA, after Scion gave each of them a tC, $15,000 and 90 days to modify it. At 11:00 AM on Wednesday, judges picked the Young Tea Scion Simpli-tC as the winner, the Walter Franco Scion L-DZ Concept got second, and third place went to the Josh Croll Scion WSD-tC. Check out the three videos below to watch the tC builds from start to finish.
Out of the FR-S concepts brought to the show, we're gravitating toward the GReddy Performance x Scion Racing Drift FR-S (top), which has the venerable 2JZ-GTE turbocharged straight-six engine in place of the flat-four that comes standard in the rear-wheel-drive coupe - ready to pump out 750 horsepower - and the Bulletproof FR-S Concept One, which features a striking, handmade wide body and a heavily modified, turbocharged flat-four that puts out 500 hp.

World Car Of The Year down to its final four

Judges for the World Car of the Year Award have narrowed down the finalists to just four vehicles. Out of a total of 42 entries, only the Mercedes-Benz A-Class, Porsche Boxster/Cayman, Scion FR-S/Subaru BRZ/Toyota GT-86 and Volkswagen Golf remain standing. For Volkswagen, this marks the second consecutive year the company has had an entry among the finalists, and the fourth time since 2009. In order to qualify, a vehicle must be on sale on two continents during the span of time between January 1, 2013 and May 30, 2013. A panel of 66 journalists from 23 countries then vote on the finalists.
Three vehicles have made the cut for the last round of voting on the 2013 World Performance Car as well, with the Cayman/Boxster and FR-S/BRZ/GT-86 running against the Ferrari F12 Berlinetta. Meanwhile, the Renault Zoe, Tesla Model S and Volvo V60 Plug-In Hybrid are duking it out for the World Green Car Award. Finally, the World Car Design of the Year Award is up for grabs between the Aston Martin Vanquish, Jaguar F-Type, and the Mazda6. Check out the full press release below. Overall winners will be presented at the 2013 New York Auto Show.