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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.

Toyota confirms C-HR crossover to debut at Geneva

With the compact crossover segment booming with new entries, Toyota soon intends to burst into the popular market with a production version of the C-HR concept. The rakishly styled, little CUV will show off its final face at the 2016 Geneva Motor Show next March, and European sales will start before summer, Autocar reports. Customers in the US will likely get to drive the angular model, too. The C-HR concept's chiseled shape is expected to make the transition to the road largely unaltered. According to Autocar, customers reportedly really dig the razor-sharp look versus a more conventional CUV design. A hybrid is also expected to be included in the production powertrain lineup, but non-electrified options could be available, too. The Japanese automaker last displayed the C-HR at this year's Frankfurt Motor Show. Underneath the avant-garde shape, the Toyota New Global Architecture provided the underpinnings, and a hybrid powertrain was there for propulsion. The concept's general design idea was actually the revival of a three-door crossover from the 2014 Paris Motor Show. In addition, the production C-HR is expected eventually to arrive in the US but likely wearing a Scion badge. Spy shots highly suggest that a crossover is already under development, and the entry would give the division a much-needed challenger to the Nissan Juke, Honda HR-V, Mazda CX-3, and plenty of others. Plus, the brand is keeping it absolutely no secret that a third, new model is on way to join the iA and iM.

2016 Scion iA arrives with price tag 'in the $16,000 range'

The adorkable iA, Scion's first sedan, is likely to appeal to a number of customers who value efficiency, affordability and equipment. And because the iA is essentially a rebadged Mazda2 there should be some pep in this little guy's step. If you're wondering why Mazda would build a car for Toyota, volume is a big reason. 1,003 Toyota dealers have a Scion store, more than one-and-a-half times as many franchises as Mazda, and that translates into higher production numbers. Ignoring the rather tragic grille, the rest of the iA is actually a handsome little four-door, which makes sense, considering the amount of Mazda blood coursing through its veins. One need only compare the shots of the Scion, shown above, and the leaked images of the Thai-market 2 sedan to see the similarity. The headlights and taillights are identical in shape and similar in overall design, while both cars share Mazda's expressive Kodo character lines in the profile. While the 2 is cute and brawny, the iA looks a little sullen, with its catfish-mouth grille drooping low in front of the sloping hood. It's a similar story in the cabin, where Mazda's work is plain to see. The dash is crowned by an ample, standard seven-inch display, which is in turn controlled by either touch or the excellent dial-and-buttons input also found in the Mazda3 and Mazda6. Toyota's Entune system is conspicuous by its absence. A trio of knobs control the HVAC system, while a section of faux leather, complete with stitching, separates the tactile controls from the main display. The instrument cluster is home to a single binnacle, housing the speedometer. A pair of secondary displays feature a tachometer and other ancillary information. Considering that the interior and exterior are almost unchanged from the Mazda2, it's no surprise that the 1.5-liter four-cylinder is also common to both cars. In the iA the lump under the hood makes 106 horsepower, while the Euro-market 2 comes in three flavors – 75 horsepower, 95 hp and 115 hp (with the i-ELOOP system). The 1.5 is paired with either a six-speed manual or a six-speed automatic. Following the theme, the iA's chassis is largely identical to the new 2's. The front suspension is of the MacPherson strut variety, while a torsion-beam axle sits out back with rear drum brakes. The steering assist is electric, which contributes at least partially to the 33-mile-per-gallon city rating and 42-mpg highway.