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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 Tundra ditches V6 for 2015

The Toyota Tundra debuted in new-ish form for the 2014 model year, but as we head into 2015, the truck boasts a couple of small updates. Most notably, the base V6 engine has been discontinued. On top of that, there's the new TRD Pro model on offer for 2015, which we've told you about before.
Why kill the V6? Simple - it was very low-volume. "The Tundra V6 take rate was significantly less than five percent," a Toyota spokesperson confirmed via email to Autoblog. So for 2015, the two V8 engine options remain - a 4.6-liter unit with 310 horsepower and 327 pound-feet of torque, or the more powerful 5.7-liter powerplant with 381 hp and 401 lb-ft. Both engines are mated to a six-speed automatic transmission, and rear-wheel drive is standard. Four-wheel drive, of course, is available with either engine.
The only other noteworthy changes for 2015 include an optional integrated trailer brake for the 5.7-liter models, a new rear under-seat tray storage system for Double Cab trucks, and a spray-in bed-liner. Scroll down for the official press blast.

Toyota to sell hot-pink Crown in Japan

Akio Toyoda is doing a pretty decent job at the helm of the Toyota empire. This is the man, after all, that declared that Toyota would get new sports cars, and that they needed to be, not should be, rear-wheel drive. We can respect that. Toyoda is also trying to do away with his company's conservative styling and bring edgier vehicles to market.
Toyota's designers have done just that, although perhaps they went a bit too far. In November, Toyota debuted its fourteenth-generation Crown with a bling-bling fascia that makes Lexus' spindle grille look as conservative as a three-piece suit, and a retina-searing pink paintjob. See, in Japan, the Crown is to Japan's older crowd what the 2002 Buick Park Avenue is to America's senior citizens. As Automotive News reports, the idea with the pink was to draw attention to the grille, but it was originally intended as a debut item, only.
Now, Toyota is actually planning to offer the electric fuchsia Crown for sale to regular buyers. Interested parties will have from September 1st to September 30th to place an order for the big sedan. According to the AN report, Toyoda said to reporters at the debut, "My initial reaction was: 'You're kidding! Please, not pink." We wish they were kidding.