2005 Scion Xb Xb on 2040-cars

Auto blog

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.

Scion to unveil new sedan in New York

Scion is on a mission to inject some new life into its struggling lineup. It unveiled a refreshed and rebadged Euro-market Toyota Auris as the iM Concept at the LA Auto Show in November, and is bringing it to market with that same nameplate. But that's not all: the youthful division from Toyota has just announced it's bringing a sedan join the production iM hatch on stage at the New York Auto Show in April. Although details are scarce, the close association Scion has drawn between the iM hatch and the new sedan suggests that the two could be related. The iM (like the Auris upon which it's based and the Matrix that came before) is already essentially a hatchback version of the Corolla sedan, which US buyers can find in Toyota showrooms. So whether the new sedan will be essentially a rehashed Corolla sedan, or something else entirely, remains to be seen. If Scion were to take a similar approach and bring over another Toyota model sold overseas, the new model could borrow heavily from the European-market Avensis or even Japan's Mark X. Whatever form the car ultimately takes, however, this will be Scion's first sedan, believe it or not. The brand has previously offered only hatchbacks like the iQ, xD and xB, and two-door coupes like the FR-S and tC. The latter, for what it's worth, shares its underpinnings with the Avensis. Scion says the new sedan and the iM hatch will "represent two of the three new models Scion will bring to market in the next three years," so expect one more to follow sometime in the near future. New Names and Bold Bodies Coming to Scion in 2015 First-Ever Scion Sedan and Scion iM on the way TORRANCE, Calif., (Jan. 7, 2015) – Like many others, Scion has a New Year's Resolution to debut an all-new body by spring. And not surprisingly, all eyes will be on its backside as Scion will be adding its first-ever sedan to its line-up. The new sedan will be introduced in April at the New York International Auto Show along with the all-new Scion iM. The iM is the official name for the production version of the iM Concept car shown at the Los Angeles Auto Show in November. Together, the two vehicles represent two of the three new models Scion will bring to market in the next three years aimed at independently minded 18-34 year olds. The trio will bring exciting options for Scion's younger customers looking for vehicles to support both adventure and sensibility.

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.