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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.

2014 Toyota Tundra

Raising A White Flag To The Competition
We all benefit from highly competitive battles. In the automotive sector, few campaigns are so closely fought as the decades-long struggle for supremacy in the fullsize half-ton pickup truck segment. The Ford F-150 has dominated for ages, but Chevrolet, Ram and GMC have been closing the gap with freshly redesigned trucks that are rocking the industry.
Today's half-ton trucks are better than they've ever been, and we have fierce competition to thank for that.

Toyota expands Takata airbag inflator recall

The Basics: Toyota will recall 198,000 examples of the 2008 Corolla and Matrix and the 2008-2010 Lexus SC430. The Problem: The vehicles contain Takata's dual-stage inflators in their front passenger airbags, which could rupture in a crash. Injuries/Deaths: None reported in this population of vehicles. However, experts believe Takata's inflators have links to at least ten fatalities. The Fix: Dealers will replace the part with a newly manufactured one. If You Own One: Toyota will notify owners about the recall by first-class mail in March and will send a remedy letter in June when the parts are ready. TOYOTA EXPANDS TAKATA AIRBAG SAFETY RECALL TORRANCE, Calif., March 2, 2016 – Toyota Motor Sales, USA, Inc. today announced that it is expanding two of its recalls involving Takata front passenger airbag inflators. This will add model years of certain vehicles previously recalled and will cover all remaining dual-stage front passenger inflators of a particular type, as a precautionary measure. Approximately 198,000 Model Year 2008 Corolla and Corolla Matrix and Model Year 2008-2010 Lexus SC430 vehicles will be added to the recalls. The involved vehicles are equipped with a Takata-produced dual-stage front passenger airbag inflator which could potentially be susceptible to rupture when deployed in a crash. All known owners of the affected Toyota / Lexus vehicles will be notified by first class mail. Dealers will replace the airbag inflator or the airbag assembly with a newly manufactured one at no cost. Information about automotive recalls, including but not limited to the list of involved vehicles, is subject to change over time. For the most up-do-date Safety Recall information on Toyota, Lexus or Scion vehicles, customers should check their vehicle's status by visiting toyota.com/recall and entering the Vehicle Identification Number (VIN). Safety Recall inquiry by individual VIN is also available at the NHTSA site: safercar.gov/vin. For any additional questions, customer support is also available by calling Toyota Customer Service at 1-800-331-4331, or Lexus Customer Service at 1-800-255-3987. ###