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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.

Toyota develops new pre-collision system with steering assist

A number of automakers are working on developing fully autonomous cars, but it looks like the groundwork for such technologies will likely show up first as semi-autonomous systems for both safety and convenience. Following recent announcements from Nissan and Ford in this area, Toyota has now released information for some of its advanced semi-autonomous technologies that could be offered in production cars over the next few years.
On the safety front, Toyota's new pre-collision system with pedestrian-avoidance steering assist is aimed at protecting the folks who aren't in the car. This system combines visual and audible alerts with automatic brake assist and automatic steering. If warnings don't get the driver to slow down, the brake assist kicks in if a collision is very likely, but if that is still not able to avoid the impending collision (and if there is enough room to do so), the car can automatically steer itself around the pedestrian. This sounds most beneficial for last-second dangers such as a person accidently stepping out into the road in front of a car. Toyota hopes to have this technology available to customers by 2015.
The Japanese automaker is also testing a suite of technologies called Automated Highway Driving Assist (AHDA). The key part of this is a new adaptive cruise control system that uses vehicle-to-vehicle (V2V) communications rather than a radar-based system. This cooperative-adaptive cruise control allows vehicles to communicate their acceleration and deceleration data with other cars, which Toyota says this helps to improve fuel efficiency and traffic flow. Also a part of AHDA is the Lane Trace Control feature, which sounds like a next-gen lane keep assist. This system uses cameras, radar and a computer to keep the vehicle in a "smooth driving line" by being able to change steering angle, engine torque and braking force. Toyota says this technology could be in place by the "mid-2010s."

NHTSA investigating 561k Toyota Prius hybrids for possible steering shaft defect

The Detroit News is reporting that the National Highway Traffic Safety Administration will investigate some 561,000 Toyota Prius models for potentially defective steering shafts. The affected hybrid models are from the 2004-2009 model years. The story indicates that NHTSA is weighing whether or not to grant a defect petition, which claims that Toyota incorrectly assembled the hatchback's steering linkage.
As of this writing, there is no recall. However, a recall based on the Prius steering shaft would be the third related to steering issues for the model since 2006. Seven years ago, Toyota recalled 170K Prius models for potential cracking of the intermediate shafts, and in November of 2012, the automaker recalled 670K units to replace the steering shaft extension assembly.
We'll be monitoring NHTSA's signals to see if this investigation turns into a full-fledged recall. For now, stay tuned.