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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.

100-year-old Yellowstone ranger station now powered by Camry Hybrid batteries [w/video]

With a new project, Toyota is bringing power to the prairie and finding a way to reuse nickel-metal hydride batteries at the same time. The automaker recently completed assisting Yellowstone National Park's installation of a solar power station at the Lamar Buffalo Ranch to electrify the ranger station and education center there for the first time. Toyota's major part in the system is an array of 208 batteries that are repurposed from old Camry Hybrid sedans, and they can store 85 kilowatt-hours of energy at a time. That's as much as one 85-kWh battery pack from one top-of-the-line Tesla Model S. Toyota figures that the whole setup should generate enough annual electricity for six average US homes, which is plenty for the ranch. For a constant source of power, the site plans to install a micro-hydro turbine in a nearby stream in 2016. Prior to creating the wall of batteries to store all of this energy, Toyota disassembled and tested each one. It also installed a new management system on them to maximize their lifespan. You can get a better idea of what the whole system looks like in the automaker's video, below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Toyota Flips the Switch to Sustainable Power at Yellowstone National Park Lamar Buffalo Ranch Renewable, Zero Emission Energy System Is Now Online System Features 208 Re-used Camry Hybrid Batteries May 12, 2015 Torrance, Calif. (May 12, 2015) – The lights are on where the buffalo roam. At the Lamar Buffalo Ranch field campus in Yellowstone National Park, an innovative distributed energy system that combines solar power generation with re-used Camry Hybrid battery packs is now online. The result: reliable, sustainable, zero emission power to the ranger station and education center for the first time since it was founded in 1907. Announced in June 2014, the partnership among Toyota, Indy Power Systems, Sharp USA SolarWorld, Patriot Solar, National Park Service and Yellowstone Park Foundation is an innovative effort to extend the useful life of hybrid vehicle batteries while providing sustainable power generation for one of the most remote, pristine areas in the United States. Solar panels generate the renewable electricity stored within the 208 used Camry Hybrid nickel-metal hydride battery packs, recovered from Toyota dealers across the United States.

2016 Toyota Mirai launching in US this October

The small-volume 2016 Toyota Mirai is coming to California in October. That's the news from today's announcement of the eight Toyota dealerships in and around Los Angeles and San Francisco that will be the first to sell the hydrogen car in the US. Previously, all that Toyota said was that the first 200 units would be available in the fall of 2015. Toyota expects to sell a total of 3,000 Mirai hydrogen cars by the end of 2017. The eight dealerships are: San Francisco Toyota, Roseville Toyota, Stevens Creek Toyota, Toyota of Sunnyvale, Longo Toyota, Toyota Santa Monica, Toyota of Orange, and Tustin Toyota. If you're interested in buying a Mirai, you can sign up for more info here. The Mirai starts at $57,500. Toyota is still talking about state and federal incentives that can bring the car to under $45,000, but the federal tax incentive for hydrogen vehicles expired in December. Toyota is asking the government to bring the incentive back. The Mirai will also be available to lease for $499 a month for 36 months (with $3,649 due at signing). Both options come with free hydrogen fuel for "up to three years." Related Video: TOYOTA MIRAI: COMING THIS FALL TO SHOWROOMS NEAR...? Eight California Toyota Dealers Announced Mirai Order Requests Begin Summer 2015 Torrance, Calif. (May 6, 2015) – Want a Mirai? All those in favor, say aye! California trailblazers waiting to get behind the wheel of Toyota's hydrogen fuel cell electric vehicle, the Mirai, now have a destination for pick up and pre-order. In October 2015, Mirai will roll into select Toyota dealerships in the Golden State. Northern California drivers will meet Mirai at San Francisco Toyota, Roseville Toyota, Stevens Creek Toyota or Toyota of Sunnyvale. Farther south, Longo Toyota, Toyota Santa Monica, Toyota of Orange and Tustin Toyota will welcome Mirai customers. These initial dealers were selected based on advanced technology vehicle sales experience and proximity to hydrogen infrastructure. But why wait until October? Beginning this summer, California customers can request a Mirai, by visiting www.toyota.com/mirai. Production of the Mirai is limited and vehicles will be placed with select, eligible customers. Therefore, drivers are encouraged to make their requests early to save a potential parking spot in transportation history. Customers can visit www.toyota.com/mirai today to sign up for more information and notification of exact order request launch timing in the coming months.