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Toyota GT86 convertible could debut in March

The dates are lining up, now we wait to see how the badges align. Just before the Toyota GT 86/Scion FR-S/Subaru BRZ line-up was introduced at the Tokyo Motor Show last year, there was a report that Subaru was considering a convertible while Toyota wouldn't even comment on it. That got swapped around when earlier this year the chief engineer on Toyota's side said a convertible was coming, and then a Scion FR-S droptop was confirmed for early 2014.
Autocar now reports that the Toyota GT 86 convertible will make its first appearance at the 2013 Geneva Motor Show in March. In a car whose specs like weight, packaging, horsepower and center of gravity were all tightly controlled to get the most from the least, the changes necessitated by chopping the roof could make this a very different car. It's said to employ a fabric roof to keep a "small" weight gain check, and the suspension will be softened to work more harmoniously with the decreased body stiffness. And somewhere in all that the back seat and trunk space will need to take a hit.
In other news, Autocar says the hi-po GT 86 with some kind of capacitor system instead of batteries is being worked on for 2015.

Submit your questions for Autoblog Podcast #317 LIVE!

We record Autoblog Podcast #317 tonight, and you can drop us your questions and comments regarding the rest of the week's news via our Q&A module below. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.
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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.