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Despite slow sales, no new Scion models in near-term pipeline [w/poll]

According to a top Toyota executive, the Japanese automaker will not be introducing any fresh Scion models in the near future, Reuters reports. As of August, Scion sales for this year were down 1.6 percent from 2012 and accounted for only 0.3 percent of Toyota's overall US sales. And last month, Toyota Motor Sales USA Senior Vice President Bob Carter informed the 1,000 dealers who carry Scion that they can drop the brand without penalty.
However, never fear - Carter has assured that, while nothing new is coming for at least six months, the company is still very committed to the quirky Scion brand. Toyota launched Scion, which targets the youth market, in 2003, and sales peaked in 2006. The brand currently has five models, with the 2013 best-sellers being the FR-S sports coupe followed by the tC sedan and xB hatchback.
What do you think about Toyota's decision to hold off on introducing new or refreshed Scion models? Are they heading in the right direction, or does this spell doom for the funky Gen Y brand?

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.

2016 Scion iM shows some sharp styling from a frugal five-door [w/video]

Scion has been starving for new products for some time, and the entry-level brand has finally gotten two of them at the 2015 New York Auto Show. Of the duo, the iM is probably the more intriguing one because it brings a slightly retouched look for the Toyota Auris across the Atlantic from Europe. While nowhere near as aggressive as the concept from the 2014 LA Auto Show, the production iM is still a fairly attractive five-door. The front air dam features a stylish mix of gloss black and body color touches that look great, and the rear is dominated by a big set of wraparound taillights. It also wears an attractive set of standard 17-inch wheels with a layered effect for the spokes. Buyers have a single engine option, which is a 1.8-liter four-cylinder with 137 horsepower, but the mill can be linked up to either a six-speed manual or a CVT with a stepped-shifting mode. The iM should be easy on fuel bills too thanks to an estimated 37 miles per gallon highway from the most efficient version. Scion's new five-door hatch arrives at dealers this fall, and the brand expects prices to start at less than $20,000. Check out all of the shots in the gallery from the New York show floor for an early peek.