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Toyota delves into the history of its Land Cruiser

One of the longest-produced, most widely distributed vehicles in all of automotive history is also one of its most rugged: the Toyota Land Cruiser. With 60 years of continuous production, 14 different model lines and thousands of variations of the Jeep-like sports utility vehicle, the Land Cruiser became a success worldwide and developed a cult following among enthusiasts here in the US.
We'll be the first to admit that tracing the vehicle's lineage from its humble beginnings as a prototype for Japan's National Police Reserve in 1951 to what it is today isn't an easy task, especially when one considers that the types of Land Cruisers produced traditionally have varied from market to market. For example, the Land Cruiser sold in the US is very different from the US-only 40 series Land Cruiser-inspired FJ Cruiser, which is itself different from the Land Cruiser Prado sold in other world markets.
To cover the Land Cruiser's sixty-plus year history from start to present, someone over at Toyota UK was thoughtful enough to devote a plus-size blog post to it. It's worth a read if you have a spare 10 or 15 minutes - and even if you don't, you can check out our historical gallery above. Enjoy!

Scion trying to build business case for FR-S convertible as Subaru bows out

Hope may remain for a convertible version of the Scion FR-S, according to a report from Ward's Auto. You'll recall that rumors were swirling about the feasibility of a rear-drive Toyobaru convertible as early as October, and that back in November, Subaru - which makes the FR-S, Subaru BRZ and Toyota GT86 - essentially nixed the idea of an open-topped variant.
"We make the car, so if we don't make it, it can't happen," brand chief Yasuyuki Yoshinaga told Automotive News, according to Ward's, at the Tokyo Motor Show. "Our engineering department told me that losing the entire roof requires a complete redesign of the structure. It would need a big change."
Despite Yoshinaga-san's arguments against a droptop variant, Toyota is apparently still considering the model. Speaking to media at the 2014 North American International Auto Show, Scion's US vice president, Doug Murtha, hinted that the rear-drive droptop was in the works.

Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.