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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.

2017 Scion FR-S getting slight power bump?

A common refrain when discussing the Scion FR-S and its sibling the Subaru BRZ is that they are capable vehicles but are in need of more power. The latest rumors suggest that some more muscle might finally be on the way for the coupe's refresh. Don't expect something like the STI Performance Concept with a 300-horsepower, turbocharged flat-four, though – the gains in the real world are likely to be significantly more modest. According to Toyota insiders speaking with Motoring in Australia, the local Toyota GT86 (our FR-S) is due for a styling and powertrain refresh for the next model year. The 2.0-liter boxer four-cylinder engine isn't expected to get a drastic power increase, but it's not being completely neglected. A new intake manifold and friction reductions reportedly allow for five percent more grunt. If accurate, and if the changes also come here, that would take output of the US version to 210 hp and 159 pound-feet of torque. The adjustments could improve fuel economy by seven percent, as well. Handling is already a forte for the FR-S and BRZ, and things could get even better with this refresh. Motoring claims that dampers from Sachs might become standard equipment, along with a reinforced subframe. The close relationship with the BRZ reportedly rules out any dramatic changes to the styling for this update. However, the coupe is still likely to wear a new hood with vents in it, reshaped headlights, and a revised fascia with a larger lower grille. At the rear, expect a rear diffuser and exhaust pipes at the corners. While minor compared to all of these rumored updates, Scion recently gave the FR-S a few tweaks in the US for the 2016 model year (pictured above). In addition to some new colors and interior trim, it now comes standard with a seven-inch touchscreen infotainment system and rearview camera.

More powerful 2017 Toyota 86 takes over for the Scion FR-S

Scion is dead, and the FR-S name passes away with it. The rear-wheel-drive sports coupe isn't gone, though, because it's now the the 2017 Toyota 86. To match the new moniker, the latest model finally has a little extra power and more aggressive styling. The public debut will take place at next week's New York Auto Show, and sales begin this fall. "When we announced the transition of the Scion models to Toyota we hadn't planned on changing the names of our cars, but by popular demand, for our sports car, we decided to adopt the global name of 86," said Toyota Division Group Vice President Bill Fay. The 2.0-liter boxer-four's output grows to 205 horsepower and 156 pound-feet of torque – increases of 5 hp and 5 lb-ft – on manual-transmission models. The 86 still isn't the turbocharged rear-wheel-drive coupe of some people's dreams, but at least this is an improvement. (Buyers who opt for the automatic will have to make do with less power and fewer pedals.) Toyota also promises "additional performance" thanks to different gear ratios for the six-speed manual transmission, and there's now Hill Start Assist Control. New shock tuning and spring rates will affect the handling, too. The 86 wears a meaner look than the outgoing FR-S. The biggest change is a new front bumper with a large intake that stretches across the coupe's width, and the two sharp points along the bottom look like teeth ready to chomp down. Toyota also replaces the headlights and taillights with LED units. The twist-spoke wheels are a great accompaniment to the more aggressive look, too. The tweaks are more modest inside, including silver stitching and new materials for the dashboard and doors. Toyota will also display the C-HR crossover concept again in the Big Apple. We won't see the production version until later this year, and sales won't begin until spring 2017 as a 2018 model. Related Video: Toyota to 86 the FR-S Name New Toyota 86 and Charismatic C-HR Concept on Display at New York Auto Show TORRANCE, Calif., March 17, 2016 – With its new home comes a new name and more. The former Scion FR-S will debut as the 2017 Toyota 86 at the New York International Auto Show with interior and exterior changes, as well as suspension and powertrain upgrades. The new Toyota 86 will go on sale at all Toyota dealerships this fall.