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Toyota announces Geneva plans including droptop FT-86 Open concept

Automakers from around the globe are gearing up for the Geneva Motor Show next month, and Toyota is giving us a couple teasers of what will be in its display. In addition to what appears to be a single-seat concept called the i-Road (shown at right), Toyota will also give us our first look at a droptop Scion FR-S courtesy of the FT-86 Open Concept.
All we have to go on right now is this sketch shown above, but we do see that this car will retain its rear seats, which could be a potential advantage over one of its key rivals, the Mazda MX-5 Miata. Toyota says that this concept will be used to gauge public interest in such a convertible, but we've already heard that a Scion convertible is already planned to go on sale as soon as early next year. As far as Toyota's other concept, there also isn't much information about the i-Road except that it will be a zero-emissions vehicle and it will have seating for two passengers, which based on the drawing will have the driver sitting in front of the passenger.
Toyota will also show off the European version of the new RAV4 as well as its new Auris Touring Sports, which it refers to as a "medium-size estate." Scroll down for Toyota's tease of a press release.

DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.

Toyota may return to F1 under Lexus banner

A new report in from the website Club Lexus claims to have insider knowledge about a return to Formula One racing by Toyota, this time under the auspices of the Lexus brand. Toyota competed in F1 from 2002 through the 2009 season. That final year saw the team return competitive, if inconsistent results, but the larger economic woes in the automotive market made a decision to pull the plug relatively easy at the time.
Now, citing recent interviews with Toyota executives and insider sources, Club Lexus says that the move to re-enter F1 for the 2014 season is "all but finalized." The choice to go with the Lexus nameplate over Toyota makes some sense, too, considering the success that rival Infiniti has had in recent years through its partnership with Red Bull Racing. Further, the emerging Lexus identity as a performance car builder, with a strong background in hybrid vehicles, could help the F1 move resonate with buyers.
A few technological factors and formula changes within F1 offer some credence to the Lexus rumor, too. F1 will increase the available capacity of KERS from 60kW to 120kW, a change that theoretically benefits the hybrid-savvy Toyota. What's more, 2014 will see a switch from the current 2.4-liter V8 engines to 1.6-liter turbocharged V6s. A Lexus team that goes racing in 2014 will be on a level playing field with the rest of the grid then, with all teams adjusting to and continuing to develop the new engines.