1951 Studebaker Champion Regal on 2040-cars

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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.

FR-S with Targa-style top leads Scion's SEMA brigade

The Scion brand seems to be a bit rudderless in the auto industry at the moment. The company just doesn't seem to know what audience it wants to appeal to. For this year's SEMA Show in Las Vegas, the automakers is kind of just going wild with bizarre customs like a turbocharged FR-S with a targa top (pictured above).
Taking the roof off of a FR-S isn't an entirely new idea, but this targa-top version at SEMA is certainly a new take. In addition to just chopping a panel out of the roof, the custom also adds a louvered rear window in an especially cool touch that lends an '80s coupe vibe. To take the wild look even further, the car wears a bespoke wide body kit with an integrated rear spoiler and center-mount exhaust, and all of the bodywork is done in metal. Being for the premiere aftermarket show, performance also has to play a role, and the upgrades include a Greddy turbo kit, coil-over suspension from KW and big brakes from Wilwood.
If the FR-S seemed just slightly inspired by the '80s, the xB for the show goes for a look that's a decade older with inspiration from '70s conversion vans and skateboarding. With design help from skateboarder Riley Hawk, the custom is painted in shades of groovy earth tones with bubble windows in the rear, and the cargo box on the roof stores skateboards. The interior features touchstones of the time with a mix of wood-grain trim, shag carpet and comfy brown leather.

2016 Scion iM shows some sharp styling from a frugal five-door [w/video]

Scion has been starving for new products for some time, and the entry-level brand has finally gotten two of them at the 2015 New York Auto Show. Of the duo, the iM is probably the more intriguing one because it brings a slightly retouched look for the Toyota Auris across the Atlantic from Europe. While nowhere near as aggressive as the concept from the 2014 LA Auto Show, the production iM is still a fairly attractive five-door. The front air dam features a stylish mix of gloss black and body color touches that look great, and the rear is dominated by a big set of wraparound taillights. It also wears an attractive set of standard 17-inch wheels with a layered effect for the spokes. Buyers have a single engine option, which is a 1.8-liter four-cylinder with 137 horsepower, but the mill can be linked up to either a six-speed manual or a CVT with a stepped-shifting mode. The iM should be easy on fuel bills too thanks to an estimated 37 miles per gallon highway from the most efficient version. Scion's new five-door hatch arrives at dealers this fall, and the brand expects prices to start at less than $20,000. Check out all of the shots in the gallery from the New York show floor for an early peek.