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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 FR-S Release Series 2.0 offers subtle sophistication

The 2016 Detroit Auto Show offers a chance to get a closer look at Scion's subdued FR-S Release Series 2.0. Toyota's youth-oriented branch is experimenting with a slightly more luxurious take on the FR-S. Just 1,000 examples will be made. The Release Series 1.0 showed Scion leaning heavily on the FR-S' sporty image with bright yellow paint, a lowered suspension, and quad exhaust outlets, but the 2.0 takes the opposite approach. The exterior wears a subtle body kit that features a discreet front lip and trunk lid spoiler. A nondescript light beige color called Lunar Storm isn't particularly notable, but at least the black 17-inch wheels lend a little aggressiveness. Inside, Scion keeps drivers warm and holds them tight in heated seats with upholstery that combines black Alcantara and light brown leather. The trim for the steering wheel, door panels, and much of the stitching matches this motif. The Release Series 2.0 also comes with luxury features like push-button start, dual-zone climate control, and HID headlights. Check out the limited FR-S in our gallery above. Prices for the Release Series 2.0 start at $30,305 (after $795 destination) with the six-speed manual or $31,405 for the automatic. SCION PAIRS SPORTS AND STYLE FOR 2016 FR-S RELEASE SERIES 2.0 TORRANCE, Calif., (Oct. 29, 2015) – Drivers of the 2016 Scion FR-S Release Series 2.0 will look better than ever in the most stylish version of the sports car ever offered. The new FR-S Release Series 2.0 comes with luxurious appointments and premium features, and with just 1,000 vehicles available, it's the most elusive and exclusive Scion Release Series yet. The interior creates the lap of luxury with heated seats in black Alcantara and leather with camel-colored accents. The same black and camel theme continues to the leather-trimmed steering wheel while the shift knob and parking brake lever are covered in black leather. Camel trim also appears on the door armrest and the upper door trim while the center armrest and knee pads are black. Camel accent stitching is prominent throughout the interior and embroidered on the dash insert is the release series badge, sequentially numbered from 1 to 1000. Additional luxury features include Smart key with push-button start, dual-zone automatic climate control and HID headlamps with LED daylight running lamps. On the outside, the Release Series 2.0 will make a statement with Lunar Storm paint and 17-inch forged alloy wheels.

Toyota Pro/Celebrity Race Scion FR-S [w/video]

Toyota has been hosting its Pro/Celebrity race at the Toyota Grand Prix on Long Beach since 1977. The charity event, which has raised millions of dollars over the years, traditionally pits Hollywood celebrities against professional athletes (including race car drivers) on the full Grand Prix course in modified street vehicles. The short, sprint-style race is popular with the crowds as the amateur drivers race uninhibited - the result is an action-packed race with plenty of excitement and automotive... er... carnage.
Over the decades, the drivers have raced a variety of Toyota products including last year's front-wheel-drive Scion tC. But this year, Toyota announced at the Chicago Auto Show that the new rear-wheel-drive Scion FR-S would be stepping up to the plate. The good news only became better when Toyota Motorsports invited us out to Southern California's Willow Springs Raceway (the same circuit where the drivers train and practice) to be one of the first behind the wheel.
Driving Notes: