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Unintended acceleration settlement hits Toyota's Q4 bottom line

Depending on how you want to look at things, the US Attorney's Office $1.2-billion dollar settlement with Toyota in March over its unintended acceleration recall was either a big blow to the company or completely inconsequential. From January to March, net income fell five percent to 297 billion yen ($2.89 billion), compared to 313.9 billion yen ($3.05 billion) a year ago. However, the automaker still posted record full-year profits worldwide.
Operating profit also fell in the US by 9 percent to $498.1 million for the quarter, but sales were up by 6 percent to 581,261 vehicles. According to Automotive News, global revenue was still up from January to March by about 13 percent and vehicle sales were up 6 percent to 2.58 million units.
However, the payment to the feds did little to hold the company back last year. For the fiscal year ending March 31, 2014, Toyota had net income of 1.82 trillion yen ($17.7 billion), compared to 962.1 billion yen ($9.5 billion) in the last fiscal year. Total vehicle sales were also up.

Toyota launches new Noah, Voxy minivans in Japan [w/videos]

We know the feeling: you've got what seems like your whole bloodline to transport, and maybe not quite two of every living kind, but a household pet or two. So you're going to need something big to fit them all. Something like a Toyota Sienna ought to do the trick. But if you live on an Asian island that, we're sorry to say, has been known to flood in what can only be referred to as an Act of God but whose vehicles fall short of such biblical proportions, at least you can get one with a suitably biblical name. (And an awesome one at that, if this writer may say so.)
That would be Noah, the name Toyota gives to its JDM minivan. It's also known as the Voxy, and Toyota has just revealed new versions of both. Previewed in concept form at the recent Tokyo Motor Show, the production Noah and Voxy have been completely redesigned. The boxy form allows for as many as eight seats and a low, flat-folding cargo floor to accommodate your whole clan and all the stuff you could buy from Uniqlo and Muji with the roomiest interior in its class.
Toyota is offering both with a variety of gasoline and hybrid powertrain configurations driving the front wheels or all four through a continuously variable transmission in a range of trim levels starting from 2.18 million yen (equivalent to $20,952 at today's rates) to 3.4 million yen ($32,694). The Voxy is sold through Toyota's network of Netz dealerships across Japan, and the Noah through its parallel Corolla dealers. Along with the pair of video clips and the high-res image galleries top and bottom, there are plenty of details in the press release below, where you can read more about the flexible seating arrangements and all the latest tech. Just don't expect to be reading dimensions measured in cubits and construction from gopher wood.

Thanks to smaller engines, vehicle dependability falls for first time in 16 years

As automakers have made engines smaller and smaller to improve fuel economy, problems in those vehicles have gotten bigger and bigger. That's the synopsis of a J.D. Power vehicle-dependability study, which found that dependability dropped for the first time in 16 years, largely because the proliferation of four-cylinder engines is causing the vehicles to be less reliable. Specifically, the number of problems per 100 vehicles (or what J.D. Power calls PP100) during the past 12 months for 2011 model-year vehicles rose six percent from the year-earlier figures for 2010 model-year cars. Singling out four-cylinder vehicles revealed about a 10-percent increase in problems during the past year. This issues largely related to engine hesitation, rough transmission shifting and lack of power, signaling the inability of vehicle makers to iron out some of the problems in their smaller engines as they strove for better fuel economy. Six- and five-cylinder engines proved far more reliable. Among car brands, BMW's Mini sub-brand came out as least reliable, with 185 problems per 100 vehicles during the past year. Toyota's Lexus badge was easily the most reliable, with just 68 problems per 100 vehicles. Coming in second place was Mercedes-Benz. The overall average was 133. Check out J.D. Power's press release below. J.D. Power Reports: Increased Engine and Transmission Problems Contribute to Decline in Vehicle Dependability for The First Time in More Than 15 Years General Motors Company Receives Eight Segment Awards, While Toyota Motor Corporation Garners Seven and Honda Motor Company Earns Six WESTLAKE VILLAGE, Calif.: o Owners of 3-year-old vehicles (2011 model year) report more problems than did owners of 3-year-old vehicles last year, according to the J.D. Power 2014 U.S. Vehicle Dependability StudySM (VDS) released today. The study, now in its 25th year, examines problems experienced during the past 12 months by original owners of 2011 model-year vehicles. Overall dependability is determined by the number of problems experienced per 100 vehicles (PP100), with a lower score reflecting higher quality. The study finds that overall vehicle dependability averages 133 PP100, a 6 percent increase in problems from 126 PP100 in 2013. This marks the first time since the 1998 study that the average number of problems has increased. "Until this year, we have seen a continual improvement in vehicle dependability," said David Sargent, vice president of global automotive at J.D.