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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.

Scion FR-S SCCA World Challenge racecar, ready for the track

Of all the many Scion FR-S models here on the SEMA floor in Las Vegas - and there are a great many of them, have no doubt - the very purpose-built car from Stout Racing is one that we may hear about again in the future.
The Stout Racing team will be campaigning the racy FR-S in the SCCA World Challenge series in the upcoming season, and is currently building some buzz on the Scion SEMA show stand. The car makes use of a supercharger that was jointly developed by Stout and TRD, as well as a front splitter, doors and rear wing - all by Vertex.
Driver Robert Stout will run the FR-S in the GTS class next year, with a debut slated for the Streets of St. Petersburg event, scheduled to go off in March of 2013.

2014 Scion tC taps into its inner FR-S

Cashing in on some of the excitement surrounding the FR-S, Scion has given its front-wheel drive coupe a refreshed look at the New York Auto Show. When the 2014 Scion tC shows up at dealers this June, the entry-level coupe with have an improved exterior styling to give the car a sportier appearance while also adding some new cabin tech and an updated six-speed automatic transmission.
The new face of the tC includes an oversized lower grille very similar to the FR-S, but reshaped headlights, hood and vertical lower accent lights also creates a more dynamic look for this budget-priced coupe. At the rear of the car, clear-lensed taillights and a blacked-out lower diffuser finishes the major styling changes. Inside, a new touchscreen audio system also includes Bluetooth connectivity, and the optional Scion BeSpoke Premium Audio includes navigation and Aha Internet radio app.
Building on the tC's sportier image, the automatic transmission adds a little extra excitement as well with a new manual shift mode and a rev-matching, throttle-blipping feature. For better driving dynamics, Scion also promises a more rigid body structure and enhanced suspension components. Scroll down to read all about the 2014 tC in the official press release.