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Aston CEO claims Cygnet cancelled because Toyota is dropping iQ in 2014

While slow sales and a $50,000 price tag may have been contributing factors to the Aston Martin Cygnet being cancelled last month, Aston Martin CEO Ulrich Bez is pointing the finger at Toyota for the demise of this luxurious little city car. In a discussion with Autocar, Bez is quoted as saying that the ultimate reason the Cygnet was cut is because Toyota plans on dropping the iQ (on which the Cygnet is based) in 2014 - a claim denied by the Japanese automaker.
Interestingly, the article also cites another publication reporting that a Toyota importer in the Netherlands heard the same news as Bez, and it has already stopped importing the cars. If the European Toyota iQ is cancelled, that would likely spell the end of the slow-selling Scion iQ in the US, which has sold just 3,365 units through September (a drop of 51 percent year over year).
Regardless of why production of the Cygnet ended, Bez also says that a lack of support from Toyota on the project prevented it from being offered in the US or receiving a supercharged engine, which are two factors that likely would have made the car appealing to more buyers.

Scion iM Concept bows, production version confirmed for US

Scion has officially pulled the covers off its iM Concept, which is, in reality, a slightly modified version of the Toyota Auris that is already sold outside the United States. It's also a model that is going into production for North America, says Scion, minus, we'd guess, a good bit of the overly aggressive ground effects bits, slammed suspension and oversize wheels. A production iM has been confirmed for the upcoming New York Auto Show, where Scion is also promising a second new production debut, as well. After a substantial lull in its new product cadence (barring the FR-S), it looks like Scion is once again intent on cementing its position as the entry point into the Toyota brand, promising three new models in the next three years. Scion tells us that iM's name is derived from the first letters of the words 'individuality' and 'modern.' More important details like price, powertrain and on-sale date should come later in 2015, but Scion has at least say it "anticipates that a price under $20,000 could make this car enticing to youthful customers," all of which makes it sound like the second coming of the Toyota Matrix to us. Feel free to read more in the press release below and gaze upon the concept in all its Incrediblue glory above. From Concept to Commitment - Scion Announces New Product Plans Production Version of iM Concept to Hit Showrooms Next Year TORRANCE, Calif., (Nov. 19, 2014) – Start planning that next adventure; a new ride is on its way. After revealing the iM Concept car today at the Los Angeles Auto Show, Scion announced that a production version of the versatile five-door compact hatchback will be coming to dealerships in 2015. Fans will get a first look at the road-ready, sporty ride – and another new Scion model – at the New York International Auto Show in April. "The two models we're debuting in New York next spring are just the beginning for Scion," said Scion Vice President Doug Murtha. "We plan to bring three new products in three years to our showrooms, offering a variety of exciting options for current and new Scion customers." As a test laboratory for Toyota, Scion attracts those with an independent spirit and desire to stand apart from the crowd. But many of today's consumers between 18-34 years old also value a degree of practicality to support their self-reliance and more mobile lifestyles. Faced with greater independence and less disposable income, they value fun and sensibility in a vehicle choice.

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.