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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 produces millionth truck in Texas

After going online in 2006, Toyota's San Antonio, Texas truck plant has just built its one-millionth vehicle, the 2014 Tundra 1794 Edition you see above. The plant originally focused on just the Tundra pickup, but the smaller Tacoma started rolling off the line there in 2010, as well.
Fittingly, the 1794 Edition (a new premium trim level for 2014) pays homage to the property on which the Toyota plant now resides - a ranch that was founded in 1794. Scroll down for the official press release for the plant's milestone, and be sure to check out the full gallery of Tundra 1794 Edition images as well.

Couple survives 50-foot fall from overpass in Toyota

It doesn't matter the make or model - modern vehicles are technological miracles when it comes to occupant protection. Take this story out of New York City, which involved two people going for a very wild ride in a Toyota Matrix.
Carlos and Raquel Broadbelt were on the Cross Bronx Expressway overpass when they hit a patch of ice while dodging a pothole, sending them hurtling into a guardrail and over the side of the overpass. They fell 50 feet onto the road below. Despite the catastrophic accident - and the mangled Toyota - both driver and passenger walked away. The couple spent a night in the hospital just for observation.
The Broadbelts' miraculous survival has even surprised doctors, who told Dave Carlin from CBS New York they'd never seen an accident like it. Take a look below for the full news report from CBS New York.