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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.

2019 Toyota Avalon vs. full-size sedans: How they compare on paper

Full-size sedans aren't exactly in great demand at the moment, and at least one of the vehicles in this comparison has been rumored to be on the endangered species list. Yet, we've just had our first drive in the 2019 Toyota Avalon, and if anything has a chance of rejuvenating the segment a bit, it's an all-new version of what has long been the segment's benchmark. To see how the new Avalon compares, we've put together the below spreadsheet featuring the Avalon's primary apples-to-apples rivals, the Buick LaCrosse and Chevy Impala. We also included the Nissan Maxima, which is comparable in price, sales and non-luxury badge, and which offers the sort of increased driver engagement promised by the new Avalon XSE and Touring trim levels. We also included the outgoing Avalon for reference as well as that car's luxury cousin, the Lexus ES, which can definitely be cross-shopped with the luxuriously trimmed Avalon Limited. You can use our Compare Cars tool to create your own comparison, such as one featuring the rear-wheel-drive Chrysler 300, Dodge Charger or even Kia Stinger. Alright, enough chit chat. On to the spreadsheet. Performance and fuel economy The GM sedans may come standard with four cylinders, including a mild hybrid system in the LaCrosse, but puh-lease. The V6 is the name of the game in this segment, with outputs now surpassing the 300-horsepower mark. The LaCrosse is the horsepower and torque champ, though it also weighs a bit more than the new 2019 Avalon, so acceleration is likely to be comparable. The Impala weighs a lot more and has only a six-speed automatic, so despite having a wee bit more power, one should expect it to be pokier (not a good sign for a car rumored to be on the chopping block). One would expect the Maxima's 300 hp and lowest curb weight to result in the quickest acceleration, but then it's also strapped to a CVT, which despite being better than ever, is still a CVT. Things get worse for Chevy when you consider the Impala's base four-cylinder gets the same 25 mpg combined as the Avalon's V6 — once again a segment best. Now, should you really prioritize fuel economy, the 2019 Toyota Avalon Hybrid really stands out with a 43 mpg rating (or 44 with the base XLE trim) that bests the outgoing Avalon Hybrid. Honestly, after driving this new Hybrid, it actually seems like it would be the best bet for most buyers. There's sufficient power, and it only costs $1,000 more than the comparable V6 version.

Toyota GT86 14R-60 shows how to do lightweight at a steep price

Toyota is finally making good on its Griffon concept from last year with this limited-edition 14R-60 that basically hops through the Toyota Racing Development catalog to imagine the ultimate lightweight GT86 (the continental relative to the Scion FR-S/Subaru BR-Z). Unfortunately, it's not coming stateside, and even if this modded Toyobaru were coming here, you might not want to pay the rather steep price.
Like the concept, the 2.0-liter boxer engine still makes the same 197 horsepower and 151 pound-feet of torque. However, the drivetrain isn't entirely untouched thanks to a new air filter, engine oil cooler, a reinforced clutch, lightweight flywheel, and mechanical limited-slip differential from TRD. The six-speed transmission is also tweaked, with different gearing in first and second and an altered final drive ratio.
To keep things planted the suspension gets a new coilovers, a V-shaped tower brace in the front and another in the rear. Improved deceleration comes thanks to upgraded brakes. There also are even more goodies on the outside, including a complete body kit that includes a carbon-fiber roof and massive rear spoiler. The stock wheels are replaced with 18-inch forged magnesium units, as well.