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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.

Scion celebrates first 10 years with special edition models

As the story goes, Toyota's Scion brand was imagined up in someone's basement and then came to fruition in 2003 as a youth-oriented brand with a focus on delivering unique vehicles with an equally unique retail experience. A decade later, the brand has grown to five models, which will each be commemorated starting in June with a new Scion 10 Series edition.
In varying quantities, Scion will be offering the FR-S, tC, iQ, xB and xD with an exclusive package that will all come in the Silver Ignition exterior color. Aside from the paint, these cars will also receive Scion badges on the front and rear that are backlit with blue LEDs that illuminate when the car is unlocked. Silver seat belts and a solar-powered illuminated shift knob will help distinguish the interiors of these cars, but the iQ, xB and xD will stand out further from the outside with darker alloy wheels.
In total, just 10,000 Scion 10 Series models are planned, and each will be identifiable with a sequentially numbered badge inside the car. The redesigned 2014 tC will get the most of the special-edition models with 3,500 units, while other new models like the FR-S and iQ will be restricted to just 2,500 units and 900 units, respectively. The original Scion, the xB, will get 2,100 Scion 10 Series models, and the xD will round out the 10,000-unit run with 1,000 models being produced. Scroll down for the official press release.

Consumer Reports says infotainment systems 'growing first-year reliability plague'

The Consumer Reports Annual Auto Reliability Survey (right) is out, and the top two spots look much the same as last year's list with Lexus and Toyota in first and second place, respectively. However, there are some major shakeups for 2014, with Acura plunging eight spots from third in 2013 to 11th this year, and Mazda replaces it on the lowest step of the podium. Honda and Audi round out the top five. This year's list includes six Japanese brands in the top 10, two Europeans, one America and one Korean.
Acura isn't the only one taking a tumble, though. Infiniti is the biggest loser this year by dropping 14 spots to 20th place. Other big losses come from Mercedes-Benz with an 11-place fall to 24th, and GMC, which declines 10 positions to 19th.
Perhaps unsurprisingly, it's not traditional mechanical bugs hauling down these automaker's reliability scores. Instead, pesky problems with infotainment systems are taking a series toll on the rankings. According to Consumer Reports, complaints about "in-car electronics" were the most grumbled about element in new cars. Problem areas included things like unresponsive touchscreens, issues pairing phones and multi-use controllers that refused to work right.