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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.

2015 Scion FR-S gets suspension, appearance enhancements

A couple of weeks ago, we told you about some suspension and appearance changes for the European-market Toyota GT86 - a car that's better known as the Scion FR-S (and Subaru BRZ) here in the United States. At the time, our US contacts at Scion told us we'd have final confirmation "soon" as to whether or not these upgrades would make their way to our FR-S, and now, we have those official details.
For 2015, the FR-S features a more rigid front suspension setup, and the rear shock absorbers have been retuned, all of which has been done to reduce body roll and improve feedback. Other upgrades include a new shark-fin antenna and larger exhaust pipes that are now flush with the rear bodywork. Inside, buyers will be treated to an updated interior panel with a carbon fiber look, the addition of automatic on/off headlights, and a new key design. All of this comes at very little additional cost, with the manual transmission-equipped 2015 FR-S starting at $24,900 (not including $755 for destination) - an increase of $400.
Elsewhere in the Scion range, the tC coupe has been updated slightly for 2015. The not-as-sporty coupe now features steering wheel-mounted paddle shifters on automatic transmission-equipped models, and a couple of new colors are offered: Cosmic Gray and Blizzard Pearl. The 2015 tC starts at $19,210 - the same as the 2014 model.

Toyota headed to New York with 2014 Highlander, revised Scion tC

Toyota has given us a look at what the company will bring to the 2013 New York Auto Show. Visitors will get to set their eyes upon the all-new 2014 Highlander, and while the automaker isn't saying much in the way of details, we do get the teaser you see above (click to enlarge) to ponder on until next week. The image shows little more than a headlamp and a bit of grille, but gives us the flavor of what the crossover will bring to the table.
Scion, meanwhile, says it plans to dust off the "new 2014 tC sports coupe." While we don't imagine the two door will have undergone a major surgery, we're interested to see what the automaker has cooked up. The tC last endured a redesign in 2011. Check out the brief press release below and look for the vehicles to bow on March 28.Y