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Unintended acceleration settlement hits Toyota's Q4 bottom line

Depending on how you want to look at things, the US Attorney's Office $1.2-billion dollar settlement with Toyota in March over its unintended acceleration recall was either a big blow to the company or completely inconsequential. From January to March, net income fell five percent to 297 billion yen ($2.89 billion), compared to 313.9 billion yen ($3.05 billion) a year ago. However, the automaker still posted record full-year profits worldwide.
Operating profit also fell in the US by 9 percent to $498.1 million for the quarter, but sales were up by 6 percent to 581,261 vehicles. According to Automotive News, global revenue was still up from January to March by about 13 percent and vehicle sales were up 6 percent to 2.58 million units.
However, the payment to the feds did little to hold the company back last year. For the fiscal year ending March 31, 2014, Toyota had net income of 1.82 trillion yen ($17.7 billion), compared to 962.1 billion yen ($9.5 billion) in the last fiscal year. Total vehicle sales were also up.

Toyota gives up more information on Frankfurt-bound Yaris Hybrid-R concept

Toyota has undeniably carved out a niche for itself as the industry's leader in hybrid propulsion. What started out with the original Prius in 1997 has, over the past sixteen years, ballooned to what Toyota reports as a global hybrid portfolio of 23 models. But few (if any of them) are particularly exciting.
That's where the Yaris Hybrid-R concept comes in. Set to be showcased along with the rest of Toyota's hybrid and fuel-cell lineup at the upcoming Frankfurt Motor Show next month, the concept starts with one of the Japanese auto giant's least exciting models and upgrades it to more enticing territory. Toyota Motorsport GmbH - the same Cologne, Germany-based division that operated the company's F1 team, currently runs its Le Mans program and gave us that bonkers 650-horsepower Lexus LS - has slotted in a version of Toyota's new 1.6-liter Global Race Engine and paired it with a couple of electric motors for hybrid propulsion and through-the-road all-wheel drive.
Like the TS030 Hybrid LMP1, the Yaris Hybrid-R concept uses a super capacitor (instead of a conventional battery) to store the regenerated brake energy and give it upwards of 400 horsepower. That's about all Toyota is revealing at this point, but this is the first time it has confirmed the project is based on a Yaris, of all things, and the confirmation comes with the solitary teaser rendering you see above. Check out the press release after the jump and watch this space for more as Frankfurt fast approaches.

Toyota recalling 342k Tacomas due to faulty seatbelt pretensioners

Toyota is voluntarily recalling 342,000 Tacoma Access Cab pickups, produced between 2004 and 2011. The wide-ranging recall is due to faults in the screws that attach the belt pre-tensioner to the belt retractor. There are concerns that the screws can loosen themselves over time, especially if the access door is opened and closed with too much force. It's important to note that the recall only covers the driver and front passenger seat, and is limited to just the Access Cab trucks. Other body styles aren't affected.
If the screws come loose, the pre-tensioner and retractor spring could separate from the belt entirely, which would be bad news in a crash. There's no mention of injuries or accidents due to the faulty pre-tensioners. Owners affected by the recall will be notified soon, and asked to come in for recall service.