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Rutledge Wood wins Toyota Pro/Celebrity Race in Long Beach

Rutledge Wood took home the checkered flag at this year's Toyota Pro/Celebrity race at the Grand Prix of Long Beach. The Top Gear USA presenter, Fox Sports commentator and Honda Wagovan owner managed to take pole position in qualifying, but lost his lead early in the race to Mark Steines. Steines has competed in the Pro/Celebrity race four times so far, but the Hallmark channel host of Home and Family couldn't quite hold on to the lead. Wood eventually made up the ground he had lost for the win. This year, all the participants went fender to fender in identically prepared Scion FR-S racers.
Meanwhile, Adam Carolla took first in the Pro category, and Toyota donated $5,000 on behalf of each participant to Racing for Kids. The charity benefits children's hospitals in the Long Beach area, and this year Toyota donated a total of $90,000. Check out the full press release below for more information.

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 GT86 GT4 racer is ready for UK competition

It's about time we saw someone cook up a legitimate race version of the delectable Toyota GT86, and now it looks as if GPRM has done just that. The Buckingham-based race engineering team has built the creation you see here, complete with a turbocharged 2.0-liter, direct-injection four-cylinder boxer cooked up by Nicholson McLaren Engines. The team says the new mill delivers between 360 and 400 horsepower to the rear wheels depending on final testing, which is a sight bit more than the 197 horses the naturally aspirated stock mill offers.
The car will compete in GT4 events, including the Avon Tyres British GT Championship. Technically, the GPRM effort isn't factory backed, but the team says the effort "has the blessing of Toyota Great Britain." How could it not? You can check out the brief press release below below, and be sure to take a closer look at the machine in our gallery.