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Unintended acceleration settlement hits Toyota's Q4 bottom line

Depending on how you want to look at things, the US Attorney's Office $1.2-billion dollar settlement with Toyota in March over its unintended acceleration recall was either a big blow to the company or completely inconsequential. From January to March, net income fell five percent to 297 billion yen ($2.89 billion), compared to 313.9 billion yen ($3.05 billion) a year ago. However, the automaker still posted record full-year profits worldwide.
Operating profit also fell in the US by 9 percent to $498.1 million for the quarter, but sales were up by 6 percent to 581,261 vehicles. According to Automotive News, global revenue was still up from January to March by about 13 percent and vehicle sales were up 6 percent to 2.58 million units.
However, the payment to the feds did little to hold the company back last year. For the fiscal year ending March 31, 2014, Toyota had net income of 1.82 trillion yen ($17.7 billion), compared to 962.1 billion yen ($9.5 billion) in the last fiscal year. Total vehicle sales were also up.

Drive like a prince: Join us for a walk through Monaco's car collection

Small, crowded, and a royal pain in the trunk lid to drive into during rush hour, Monaco sounds like an improbable location for a huge car museum. And yet, this tiny city-state has been closely linked to car culture for over a century. It hosts two major racing events every year, many of its residents would qualify for a frequent shopper card if Rolls-Royce issued one, and Prince Rainier III began assembling a collection of cars in the late 1950s. He opened his collection to the public in 1993 and the museum quickly turned into a popular tourist attraction. The collection continued to grow after his death in April 2005; it moved to a new facility located right on Hercules Port in July 2022. Monaco being Monaco, you'd expect to walk into a room full of the latest, shiniest, and most powerful supercars ever to shred a tire. That's not the case: while there is no shortage of high-horsepower machines, the first cars you see after paying ˆ10 (approximately $11) to get in are pre-war models. In that era, the template for the car as we know it in 2023 hadn't been created, so an eclectic assortment of expensive and dauntingly experimental machines roamed whatever roads were available to them. One is the Leyat Helica, which was built in France in 1921 with a 1.2-liter air-cooled flat-twin sourced from the world of aviation. Fittingly, the two-cylinder spun a massive, plane-like propeller. Government vehicles get a special spot in the museum. They range from a Cadillac Series 6700 with an amusing blend of period-correct French-market yellow headlights and massive fins to a 2011 Lexus LS 600h with a custom-made transparent roof panel that was built by Belgian coachbuilder Carat Duchatelet for Prince Albert II's wedding. Here's where it all gets a little weird: you've got a 1952 Austin FX3, a Ghia-bodied 1959 Fiat 500 Jolly, a 1960 BMW Isetta, and a 1971 Lotus Seven. That has to be someone's idea of a perfect four-car garage.  One of the most significant cars in the collection lurks in the far corner of the main hall, which is located a level below the entrance. At first glance, it's a kitted-out Renault 4CV with auxiliary lights, a racing number on the front end, and a period-correct registration number issued in the Bouches-du-Rhone department of France. It doesn't look all that different than the later, unmodified 4CV parked right next to it. Here's what's special about it: this is one of the small handful of Type 1063 models built by Renault for competition.

The Toyota GT86 Shooting Brake Concept is real

As a two-door wagon the shooting brake exists at the unusual but captivating intersection between practicality and sportiness. This Toyota GT86 Shooting Brake Concept is no different – it's a standard GT86, with no mechanical alterations save the grafted-on wagonette roof and hatch. It's fully functional, too, having turned some laps on Toyota's test tracks. It even has the blessing of Tetsuya Tada, the father of the Toyota 86 and its Subaru BRZ and (now rebadged) Scion FR-S, who's been protective of the original GT86 concept to the point of strenuously resisting any serious power upgrades. This isn't the first shooting brake concept we've seen from the Toyobaru twins, but it's the first Toyota-badged one. Subaru brought the Cross Sport Design Concept to the 2013 Tokyo Motor Show. So how did the GT86 Shooting Brake Concept happen? The story, as Toyota tells it, involves the company's Australian design team. They created a 1/4-scale clay model of the shooting brake, and showed it to Tada when he visited in late 2014. He was so impressed, Toyota says, that he had his hand-picked craftsman in Japan bring the idea to full-scale fruition. The Australian design team, in the outdoor-loving spirit of their country, immediately thought that the longer roof would be perfect for carrying surfboards and other unwieldy sports equipment. And it would be. Meanwhile, Tada and the rest of the Toyota corporation want to tamp down expectations. It's a design study, the company says, and it's just "testing the waters." Toyota won't rule anything out, and Mazda recently surprised everyone with the MX-5 RF's unusual and attractive targa model. Maybe in a world where Mazda felt confident enough to introduce the RF, Toyota can be daring enough to bring a sporty wagon to the masses. We can hope, and maybe if we all make enough noise together Toyota will make it a reality. Related Video: Featured Gallery Toyota GT86 Shooting Brake Concept Scion Subaru Toyota Coupe Hatchback Wagon Concept Cars Performance shooting brake toyota gt86 gt86