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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 recalling 11,200 Scion iQ models over faulty passenger sensors

Toyota has announced a voluntary recall of 11,200 Scion iQ models from the 2012 and 2013 model years. According to the manufacturer, the problem with these pint-sized hatchbacks concerns the front passenger Occupant Classification System (OCS) weight sensor cables.
The OCS sensors in the front passenger seat control the operation of things like the airbags and seatbelt pre-tensioner. In these affected models, the cables for these sensors located in the seat track can become damaged as the passenger seat slides forward and backward. And if the cables are damaged, the airbags and seatbelt pre-tensioner may not function properly.
No injuries or crashes have been reported in conjunction with this issue.

Scion shows tC Release Series 9.0, Giants fans rejoyce

The timing is perfect. Really, Scion couldn't have done any better, unveiling the latest member of the Scion tC Release Series - number 9.0, a stylish black-and-orange looker - barely a day after the San Francisco Giants, whose color scheme is black and orange, won the World Series. Also, one day before Halloween.
The Scion's well-timed color scheme is the product of Jeremy Lookofsky of Cartel Customs. The company's styling treatment also includes the custom body kit and orange seatbelts.
The Release 9.0's two main performance enhancements include a center-exit exhaust and TRD lowering springs. Beyond that, though, the changes are largely aesthetic. Black wheels, accents and badges round out the exterior changes, while the cabin features orange contrast stitching on the steering wheel and seats and orange paint on the dash and shifter surround.