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Incoming Toyota chairman wants a Supra successor

We'd venture to guess that in recent years, there have probably been almost as many rumors swirling about a Toyota Supra successor than there have been for a mid-engine Corvette. (Case in point: the speculative renderings we came across a few years ago, pictured above.) While we don't expect the Corvette's recipe to change drastically any time soon, it looks like a Supra - or more appropriately a Supra-like car - could be closer than we think.
First, there was an announcement of a BMW-Toyota joint venture. Said venture would, among other things, "Set up a feasibility study to define a joint platform concept for a mid-size sports vehicle."
Upping chances even further, a new Automotive News report claims that incoming Toyota chairman Takeshi Uchiyamada wants a vehicle "comparable" to the Supra. Clearly there are a lot of parties that want a new Supra to happen - to say nothing of enthusiasts - but Uchiyamada might be just the guy to get it done. None of this is proof positive of an impending Supra, to be sure, but winds do seem favorable.

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 discontinuing FJ Cruiser after 2014 model year

The Toyota FJ Cruiser is not long for this world. According to the manufacturer's own fleet website, the rugged FJ will be discontinued after the 2014 model year, with the companies final orders due in June of next year.
Toyota first launched the FJ Cruiser in 2006 as a 2007 model, and aside from minor year-over-year changes, it has not been substantially updated. The FJ is the modern successor to the original FJ40 Land Cruiser that Toyota produced from the 1960s all the way up through 1984, when the automaker decided to better focus on its larger, four-door Land Cruiser line. Currently, it uses a 4.0-liter V6 engine with either rear- or four-wheel drive, and is available with either a five-speed automatic or six-speed manual transmission. Interestingly, word of the FJ's demise comes not long after Toyota's US boss, Bill Fay, reaffirmed his company's commitment to body-on-frame trucks in late July.
Also of interest, Toyota's fleet website states that the 2014 model year Prius range will have "minor updates," though it's unclear what those are as of this writing. When Autoblog reached out to confirm these developments with Toyota, spokesman Curt McCallister reminded us, "As is our corporate policy, we don't discuss future products beyond the present or upcoming model year."