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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 drops detail about 414-hp Hybrid-R concept powertrain

The Toyota Yaris Hybrid-R Concept has been teased already, offering up little glimpses and details of the Frankfurt-bound vehicle. And while those few, shadowy shots have been great, we've really wanted to know how this hatchback would deliver its promised 400-plus horsepower. Under hood sits a 1.6-liter, race-derived, direct-injection, turbocharged four-cylinder that powers the front wheels. Sounds peachy, but with 414 horsepower splashed across the page, we're going to need something more than a 1.6-liter, turbo four.
A supercapacitor, developed from the Toyota TS030 Hybrid Le Mans racer sits in place of a hybrid's traditional battery packs. The benefit, according to Toyota, is that power can be more rapidly absorbed and discharged than in a traditional battery system, like nickel metal-hydride.
The gas engine is joined by a trio of 60-horsepower electric motors. Two of the them power the rear wheels, while the third sits between the engine and the six-speed, sequential gearbox. Developing the same amount of power as the rear-axle motors, this centrally located motor channels power to the race-derived supercapacitor during braking, and ships extra grunt to the rear wheels under acceleration when the front wheels start to lose grip. Besides the distributive power of the central motor, the rear electric motors can adjust the amount of torque flowing to each wheel, much like a differential.

Australia may offer money to keep Toyota making cars there

In the wake of last month's announcement that Ford will cease automotive and engine production in Australia after 2016, many are wondering what the country's other automakers will do. Holden has already confirmed it will stay the course despite Ford's exit.
Much of the GM subsidiary's reason for sticking around has to do with a deal made last year between Holden and the Australian government. In order to secure a GM investment of $1 billion and a commitment to keep manufacturing in Australia through 2022, the government threw in an extra $215 million. According to Australia's Minister for Innovation and Industry, Greg Combet, the government is now in talks with Toyota for a similar deal.
Toyota operates one plant in Australia, the Altona manufacturing and engine plant in Victoria. The facility produces the Camry, Camry Hybrid and Australasia-only Aurion for both the local market and export. The report from GoAuto indicates that negotiations with the Australian government would include adding production of a third, all-new model at Altona, possibly the new RAV4, because it shares many parts with the Camry.