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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.

2017 Toyota 86: The car so nice it's been rebadged twice

When the dust settles and the Scion brand is no more, the car we currently know as the Scion FR-S will be rebadged. Again. If you remember the excitement that surrounded the Toyobaru/Subota rear-drive sports coupes' introduction, you'll recall that Scion's Subaru BRZ twin landed in here as the FR-S. That car, along with the new iA and iM, will get a stay of execution next year when the brand bids adieu. We know it will wear a Toyota badge in dealers from then on, and there's a good chance it will get the 86 badge European models wear. Toyota's version of the car goes by several different names depending on the market. It's only a Scion in North America, while it's sold as the Toyota 86 (in Asia, Australia, New Zealand, South America, and South Africa), Toyota GT86 (in Europe and New Zealand again), and Toyota FT86 (in Nicaragua and Jamaica). The 86 part of the name is a nod to the rear-drive AE86 Corollas of the 1980s. That's a history lesson Toyota likely won't have to teach its core demographic. Then again, this car's core demographic probably already bought one. There's also a possibility that this car will get yet another name combination: Toyota FR-S. For the sake of simplicity, let's hope not. View 7 Photos So yes, the rebadged 86 will be re-rebadged back to a Toyota. Functionally this means almost nothing. Buyers who were ordering badge-swap kits from overseas will save some money. Some enthusiast forums might need to change their names. And people visiting from Japan or Europe will feel a little more at home when they see a rear-drive Toyota sports car on the street. Meanwhile, FR-S – a name that may or may not have stood for "front-engine, rear-drive, sport" – will be quickly forgotten. Related Video: Scion Toyota confirmed toyota 86

2015 Scion FR-S gets suspension, appearance enhancements

A couple of weeks ago, we told you about some suspension and appearance changes for the European-market Toyota GT86 - a car that's better known as the Scion FR-S (and Subaru BRZ) here in the United States. At the time, our US contacts at Scion told us we'd have final confirmation "soon" as to whether or not these upgrades would make their way to our FR-S, and now, we have those official details.
For 2015, the FR-S features a more rigid front suspension setup, and the rear shock absorbers have been retuned, all of which has been done to reduce body roll and improve feedback. Other upgrades include a new shark-fin antenna and larger exhaust pipes that are now flush with the rear bodywork. Inside, buyers will be treated to an updated interior panel with a carbon fiber look, the addition of automatic on/off headlights, and a new key design. All of this comes at very little additional cost, with the manual transmission-equipped 2015 FR-S starting at $24,900 (not including $755 for destination) - an increase of $400.
Elsewhere in the Scion range, the tC coupe has been updated slightly for 2015. The not-as-sporty coupe now features steering wheel-mounted paddle shifters on automatic transmission-equipped models, and a couple of new colors are offered: Cosmic Gray and Blizzard Pearl. The 2015 tC starts at $19,210 - the same as the 2014 model.