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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 hydrogen vehicle visits CES, on sale in US in 2015

If there was ever any doubt that Toyota loves hydrogen vehicles, just listen to some of what Bob Carter, senior vice president of automotive operations for Toyota Motor Sales, USA, said today at the Consumer Electronics Show (CES) in Las Vegas: "Fuel cell electric vehicles will be in our future sooner than many people believe, and in much greater numbers than anyone expected." "Hydrogen works beautifully with oxygen to create water and electricity and nothing more." "This [hydrogen] infrastructure thing is going to happen." "I believe what I'm going to tell you about today is going to change our world." Sounds like love is in the air. In all seriousness, Toyota is incredibly bullish on the future of hydrogen as a part of the automotive landscape, and is now gearing up for the 2015 launch of its hydrogen sedan. The concept version of the car was shown for the first time at the Tokyo Motor Show last fall and is making its North American debut at CES today, alongside the still-under-camo engineering prototype. The reasons for Toyota's hydrogen confidence? The debut vehicle is supposed to be a "reasonably priced" car that has a range of 300 miles and a refueling time of about five minutes. Carter highlighted the engineering work that Toyota has done over the past decades to get the fuel cell system downsized while upping power output to over 100 kW. He also said the vehicle will have carry enough energy to power a house for a week, so company engineers are working on an export power supply device. The H2 Toyota sedan will start sales in California (the only state in the US where there are currently any hydrogen stations) next year. The automaker is working with the University of California Irvine's Advanced Power and Energy Program (APEP) to figure out where to build the next series of public hydrogen fueling stations. Today there are ten, but the model Toyota is using "is based on the assumption that owners want to reach a refueling station within 6-minutes" and shows that 68 stations would be able to serve around 10,000 hydrogen vehicles. 'Toyota Car of the Future' On Sale Next Year; Opens 2014 Consumer Electronics Show (CES) Reasonably priced hydrogen fuel cell electric targets 300-mile range, 3-5 minute fill-up LAS VEGAS (Jan. 06, 2014) – "We aren't trying to re-invent the wheel; just everything necessary to make them turn," said Bob Carter, senior vice president of automotive operations for Toyota Motor Sales (TMS), U.S.A.

Hello, Siri? Please don't crash the car

Hands on the wheel and eyes on the road? You could still be distracted while driving. Voice-recognition software that many automakers tout as a safer alternative to handheld devices can still divert drivers' attention, a new study published by AAA found. Researchers noted that workload ratings were the highest on their scales when participants in the study used Siri. The technology is alluring because it allows drivers to do things like change the radio station or compose a text message without removing their hands from the wheel or their gaze from the road. But many of those tasks increase a driver's cognitive workload. Depending on the situation, that can be dangerous. "It's especially problematic, because you can be distracted and not know it," J. Peter Kissinger, president of the AAA Foundation for Traffic Safety, told Autoblog. "That's the nature of mental distraction. It's hard to appreciate. ... Often, you don't know you're distracted until it's too late." There's significant variation in the results of the study. Simple, single-task car commands for operations like changing the radio station caused minimal increases in workload, about the same as listening to an audio book. Composing information using speech-to-text technology was more burdensome, and using menu-based functions caused a high level of cognitive workload. Siri-based interactions posed the highest levels of distraction, according to AAA. Researchers noted that workload ratings were the highest on their scales when participants in the study used Siri, and two of the three simulator crashes they observed during the study of 36 participants came while the subjects were interacting with Siri. The subjects weren't looking at nor making contact with their iPhones during these interactions. "Common issues involved inconsistencies in which Siri would produce different responses to seemingly identical commands," the researchers wrote. "In other circumstances, Siri required exact phrases to accomplish specific tasks and subtle deviations from that phrasing would result in a failure. ... Some participants also reported frustration with Siri's occasional sarcasm and wit." It wasn't just the complexity of the task that caused variations in level of distraction – the variations could also be dependent on the particular make and model of the car being tested.