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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.

Autoblog Podcast #318

Toyota back on top, Barrett Jackson, Crowdsourcing your Dodge Dart payments, Nissan and Toyota double down on pickups
Episode #318 of the Autoblog Podcast is here, and this week, Dan Roth, Zach Bowman and Michael Harley talk about Toyota regaining the No. 1 sales crown, getting your friends and family to buy you a Dodge Dart, Barrett-Jackson, and Toyota and Nissan remaining committed to their pickup trucs. We wrap with your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Keep reading for our Q&A module for you to scroll through and follow along, too. Thanks for listening!
Autoblog Podcast #318:

Merecedes-Benz EQS, Ford Mustang Mach-E GT and Subaru Forester Wilderness | Autoblog Podcast #702

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor James Riswick. They've been driving some exciting new EVs, like the Ford Mustang Mach-E GT and the Mercedes-Benz EQS. They also discuss driving the new Subaru Forester Wilderness, as well as the perfectly agreeable Toyota Camry XSE Hybrid. James compares four big-name off-roaders — the Ford Bronco, Jeep Wrangler, Toyota 4Runner and Land Rover Defender — based on their ability to accommodate a big load of luggage. Next they reach into the mailbag for comments on the Genesis GV70, as well as a Spend My Money question about replacing a wrecked Subaru Ascent with another three-row SUV. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #702 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving: 2022 Ford Mustang Mach-E GT 2022 Mercedes-Benz EQS 2022 Subaru Forester Wilderness 2022 Toyota Camry XSE Hybrid Luggage testing the off-roaders: Ford Bronco vs. Jeep Wrangler vs. Land Rover Defender vs. Toyota 4Runner  Mailbag: Thoughts on the Genesis GV70 Spend My Money: Three-row SUV to replace Subaru Ascent Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.