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Toyota nears $40B cash reserve as calls grow for new investment, payouts

With the April 15 tax deadline just a few months away, our US readers will be faced with a decision should they get a refund: save or spend? It seems this issue is one many of us face whenever there's a windfall, trying to decide whether we should set the money aside in an account of some sort or use it as a down payment on a new car or a trip to the Apple store. Unsurprisingly, major corporations face a similar, albeit more complex, issue.
Take Toyota, for example. With President Akio Toyoda at the helm, the Japanese manufacturer has gracefully weathered recalls and natural disasters, all while turning beaucoup profits. Last quarter, profits quintupled to 434.4-billion yen ($4.3-billion USD), according to Bloomberg. Toyota also upped its forecast for the end of fiscal year 2013 (which ends on March 31 for Japan), to a record 1.9-trillion yen (about $18.8 billion). Now, the Japanese brand is reportedly sitting on a cash pile of nearly $40 billion, leaving Toyoda-san in an envious predicament - what should the company do with all that money?
Some think Toyota should be doing something, anything with that big stack of cash.

MotorWeek remembers retro icons, Supra and NSX

It's easy to poke a joke here and there about John Davis, the long-time host of MotorWeek. His voice is so monotonous that, from time to time, if you closed your eyes, you may think it's generated via a computer. But you have to give him and the rest of the show a lot of credit. The program has been on the air for decades, giving people direct, straight-down-the middle automotive reviews.
MotorWeek's massive back catalog of reviews are slowly making their way onto YouTube, and they provide a fascinating chance to look back on how performance cars rank against their contemporaries from back in the day. Two recent additions include the show's old looks at the 1986 Toyota Supra, the dawn of the third-generation model, and the now-iconic 1991 Acura NSX.
Both reviews are interesting in their own way. These days you hear nary a negative word about the original NSX, but MotorWeek isn't afraid to point out a few flaws. And the Supra really shows the progress of suspension tuning in the intervening decades because it has some serious body roll in the corners. Scroll down to check out both videos and get a blast from the automotive past.

Toyota to recall 185k cars globally, including Yaris

Toyota has announced it is recalling a total of 185,000 vehicles worldwide for a power steering issue. Yaris and (overseas) Vitz models built between November 2010 and March 2012 could suffer a short circuit in their power steering control module if water gets inside. Should that happen, the power steering could fail, increasing effort when turning. The recall also includes the Verso-S and Ractis built from August 2010 to August 2011. The recall covers 130,000 vehicles in Japan and around 22,450 in Europe.
Only 74 units are being recalled in the United States.
Toyota says if the fault occurs, the vehicle will display the Electronic Power Steering warning light on the dash and a buzzer will sound. The automaker will alert owners by mail and dealers will replace the power steering control module free of charge. You can read the quick press release on the recall below for more information.