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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 TRD Pro lineup coming next week

A mysterious Toyota commercial recently popped up on YouTube teasing a new TRD Pro lineup for the Tundra, Tacoma and 4Runner, and now we're getting our first official word straight from the automaker on the matter. Courtesy of its Facebook page, Toyota is promising that the TRD Pro models will be introduced on February 6th, ready to "conquer the great outdoors."
This date just so happens to mark the first day of the always-truck-friendly Chicago Auto Show, so while Toyota isn't saying as much, we're almost certain the trucks will show up next week in the Windy City. It's not clear what sort of upgrades TRD Pro brings, but it definitely includes black wheels and a tweaked front end featuring a thick, single-bar grille and bold lettering in place of the stylized Toyota logo (shown above on the Tundra).
Scroll down to see the video, and head over to Toyota's Facebook page to see a teaser image of the 4Runner TRD Pro.

Toyota must go to trial over unintended acceleration suits

Toyota is surely readying its trial lawyers, as the Japanese giant is officially headed to court in a pair of cases relating to its unintended acceleration fiascos of 2009 and 2010.
In the first case, the United States Supreme Court has actually got involved in matters, ignoring an appeal from Toyota that attempted to use an arbitrator to settle its California lawsuits. The automaker will now go to trial to face owners of 2010 Prius models over an alleged defect with the anti-lock braking systems, which plaintiffs say made the cars more difficult to stop, according to Bloomberg.
The second trial is a bit more in depth, covering the case of Ida St. John, an 83-year-old from Georgia, that crashed her 2005 Camry in 2009. The accident is believed to have played a part in her death, although the suit, being filed by her grandson, doesn't actually place blame on Toyota for her death.