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Aston CEO claims Cygnet cancelled because Toyota is dropping iQ in 2014

While slow sales and a $50,000 price tag may have been contributing factors to the Aston Martin Cygnet being cancelled last month, Aston Martin CEO Ulrich Bez is pointing the finger at Toyota for the demise of this luxurious little city car. In a discussion with Autocar, Bez is quoted as saying that the ultimate reason the Cygnet was cut is because Toyota plans on dropping the iQ (on which the Cygnet is based) in 2014 - a claim denied by the Japanese automaker.
Interestingly, the article also cites another publication reporting that a Toyota importer in the Netherlands heard the same news as Bez, and it has already stopped importing the cars. If the European Toyota iQ is cancelled, that would likely spell the end of the slow-selling Scion iQ in the US, which has sold just 3,365 units through September (a drop of 51 percent year over year).
Regardless of why production of the Cygnet ended, Bez also says that a lack of support from Toyota on the project prevented it from being offered in the US or receiving a supercharged engine, which are two factors that likely would have made the car appealing to more buyers.

Scion FR-S Release Series 1.0 hits dealers with $29,990 MSRP

If you're familiar with Scion, you likely know all about the Release Series special editions, and back in April, the automaker showed us the first RS example of its FR-S coupe. At that time, we knew the price would come in somewhere "under $30,000," and while that's technically true, the final number is a whopping ten bucks below that $30k mark. Yep, the yellowest Scion can be yours for $29,990, not including $770 for destination.
Only 1,500 of the FR-S RS 1.0 coupes will be made, all fitted with TRD lowering springs, a quad exhaust system, TRD steering wheel, HID headlamps with LED running lights, a TRD shift knob, pushbutton start, black seats and, of course, that aero kit. The $29,990 price applies to cars that use the six-speed manual transmission. If you want the automatic, be prepared to shell out $31,090.
Scroll down for more details about the special Scion. And if the super-yellow coupe isn't really lighting your fire, you can always opt for its Subaru sister, in a lovely shade of blue.

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.