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2014 Toyota Highlander to start at $30,075*

We now have pricing for Toyota's redesigned 2014 Highlander, which is seeing moderate price hikes across the board. Prices for the popular crossover have been bumped from less than 1 percent to less than 3 percent on lower-end models (anywhere from $125 to $890, depending on trim). Toyota has increased prices on higher-end XLE and Limited models more substantially - between 4.1 and 4.5 percent ($1,480 to $1,700). The Highlander Hybrid sees its price increase 2 percent ($930). The new model will be available in four different trims and with either front or all-wheel drive.
The absolute cheapest member of the Highlander range, the base LE, with a four-cylinder and front-wheel drive starts at $30,075, an increase of just $195. The LE is also available with a V6 and all-wheel drive, with the bigger engine upping the price to $31,380. All-wheel drive models start at $32,840. A slightly pricier LE Plus starts at $33,600 for a V6 FWD model and $35,060 if you add all-wheel drive.
Next up, we have the XLE, which starts at $36,900 for FWD models and moves up to $38,360 for AWD. The top-tier Limited model starts at $40,500 in FWD spec, grips-at-all-fours versions will retail for $41,960. For those that want the very top of the Highlander range, there's the Platinum Pack, which adds the Driver's Tech Pack (adaptive cruise control, pre-collision warning, lane departure warning and automatic high beams), a panoramic moonroof, heated steering wheel and heated second-row seats to the already well-equipped Limited model. Highlander Platinums start at $42,990 and $44,450, depending on how many tires are doing the work. (Note: All prices include an $860 destination and handling charge.)

Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.

Toyota confirms all-wheel drive V8 hybrid for TS040 LMP1 car in 2014

The 2014 FIA World Endurance Championship is gearing up to be one of the most exciting seasons of endurance racing in recent memory. All of the factory-entered LMP1 class cars are using hybrid powertrains, and Porsche is returning to the top class of the sport after a 16-year absence. Don't count out Toyota, though. The team has just revealed the first official details about its 2014 TS040 LMP1 car, and it has a big surprise - all-wheel drive.
The TS040 will follow Audi's lead and will use a combination motor and generator to power the front wheels. The system will generate power under braking and will use it up when accelerating to give a boost in traction over last year's rear-wheel-drive Toyota TS030. Toyota will stick with a gasoline-fueled, naturally aspirated 3.4-liter V8 to feed the rear wheels and will take on Audi's diesel, turbocharged 3.7-liter V6 and Porsche's gasoline-fueled, turbo 2.0-liter four-cylinder.
Sadly, there are no real pictures of the TS040 yet. Toyota is holding off on unveiling the car until the end of March at the WEC test at the Paul Ricard circuit, and the racing season doesn't begin until April 20 with the 6 Hours of Silverstone. You can read the whole press release about the TS040 below.