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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 Pro/Celebrity Race Scion FR-S [w/video]

Toyota has been hosting its Pro/Celebrity race at the Toyota Grand Prix on Long Beach since 1977. The charity event, which has raised millions of dollars over the years, traditionally pits Hollywood celebrities against professional athletes (including race car drivers) on the full Grand Prix course in modified street vehicles. The short, sprint-style race is popular with the crowds as the amateur drivers race uninhibited - the result is an action-packed race with plenty of excitement and automotive... er... carnage.
Over the decades, the drivers have raced a variety of Toyota products including last year's front-wheel-drive Scion tC. But this year, Toyota announced at the Chicago Auto Show that the new rear-wheel-drive Scion FR-S would be stepping up to the plate. The good news only became better when Toyota Motorsports invited us out to Southern California's Willow Springs Raceway (the same circuit where the drivers train and practice) to be one of the first behind the wheel.
Driving Notes:

Scion xB death sentence uncertain, minor updates announced

The last time we discussed the Scion xB and xD, in April of this year, it was to announce a report that both models were being killed. The vice president of the brand had said, "We don't have plans for a direct xB or xD replacement," but no date was given for the termination. Turns out rumors of their deaths have been greatly exaggerated: as part of a Toyota press release that summarized feature and pricing changes for 2013, the Scion xB was included.
The 2013 hatchback (above) gets a new front bumper and lower fascia with LED lighting, and the rear end gets a black diffuser. Stingray Metallic and Elusive Blue Metallic exterior hues will disappear, Absolutely Red and Nautical Blue Metallic will take their places. Inside will be light bronze metallic and chrome accents, as well as new seat fabric and the availability of the BeSpoke Premium Audio. It increases in price by $500, the manual costing $16,800, the automatic $17,750.
The xD (inset) has been left off the list and the Scion website it still hawking the 2012 car. But 2013 xD pricing and new features were announced earlier this year, the MSRP rising by $125 to $16,500. New equipment and options includes smoked headlight covers, more airbags and a two-tone paint job.