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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.

Cheap, honest transportation | 2017 Toyota Yaris iA

In The Love Bug, the main character (aside from Herbie) is a down-on-his-luck racing driver named Jim Douglas. Early on, he steps into an exotic car show room, and when the dealer asks him kind of car he's looking for, Douglas replies, "What do you have in the way of cheap, honest transportation?" The dealer quickly snatches his fancy liquor back from Douglas and soon after Herbie shows up from the back of the showroom. But if this happened today, you could easily replace the classic Beetle with a 2017 Toyota Yaris iA. The poor thing isn't nearly as endearing to look at as a classic Bug, as a result of the rather unattractive nose, and it's now using a second pseudonym (first Scion iA, then Toyota Yaris iA) to hide its Mazda heritage. However, everything else about it nails the description of cheap, honest transportation. And for that reason, it's a lovely little car. Let's start with honesty, and it begins from the minute you start equipping the car – the iA is a "what you see is what you get" proposition. You see, the iA moniker isn't the only holdover from the Scion era. The Toyota Yaris iA retains its "monospec" configuration, which means it comes with only one option: the transmission. Customers can choose from either a 6-speed manual like our test car, or a 6-speed automatic which costs $1,100. Everything else is standard, and "everything" includes some choice features. You get alloy wheels, air conditioning, cruise control, USB and Bluetooth integration, a rear-view camera, tilt and telescoping steering wheel with audio controls, and keyless entry with push-button start. Technically there are a number of dealer-installed accessories too, including your typical fare of mudguards, rear spoiler, cargo organizers, and such. However, none of them are really necessary, with one exception. For some odd reason, the Yaris iA does not come with a center armrest. It's a $195 accessory, and frankly it should be a standard feature because it's so useful. If you hadn't guessed, ours wasn't equipped with it. Everywhere else the iA is a thoroughly pleasant car, if not as sporty as the old Mazda2. The little 1.5-liter four-cylinder under the hood isn't particularly potent with 106 horsepower and 103 lb-ft of torque. But with a Miata-like 2,385-pound curb weight and our car's manual transmission, it manages to feel fairly sprightly, and never has any trouble dicing it up with traffic. That transmission is pretty decent, too.

Watch these Super Bowl car commercials [UPDATE]

On Sunday, February 3, the New England Patriots take on the Los Angeles Rams in Super Bowl 53 at Mercedes-Benz Stadium in Atlanta, Georgia. Some will watch because of the storyline of the old-school dynasty facing off against the new-school wunderkinds, but a large chunk of people will solely be watching for the commercials. Lucky for those who slot into the latter category, many of the manufacturers release their super bowl ads ahead of time, or have simply opted to release the commercials only online. Scroll down to see what car companies have already shown their cards. Audi Audi goes the comedic route in its clip for the Big Game. It starts with a grandpa showing his grandson a gorgeous Audi e-tron GT tucked away in a garage before he's shaken awake. Turns out he was just choking on a cashew in his cubicle at his boring job. Dodge Dodge does what it knows: create enough smoke to punch more holes in the ozone layer. Set to "The Devil Went Down to Georgia (the Super Bowl is in Atlanta, get it!?), a Challenger SRT Hellcat widebody, Charger SRT Hellcat, and Durango SRT are seen ripping through a city, leaving a trail of rubber crumbs in their wakes. Genesis Genesis has not yet released a commercial prior to the Super Bowl, but it is the official luxury vehicle of the NFL. Because of this, Genesis is hosting a fan experience for 10 days before the game. It will showcase the brand's cars, offer games, and have photos opportunities and autograph days. Hyundai Jason Bateman alert! Hyundai is one of the few companies to hook a major celebrity for its advertisement, and the casting is perfect. Bateman plays a doorman who takes people to various terrible events in life, including root canals, the middle seat, and shopping for a car. The ad centers around Hyundai's Shopper Assurance, which is Hyundai's new method for car shopping. Jeep An old 1963 Jeep Gladiator finds its strength in the crusher and transforms into a a new 2020 Gladiator, with a firm declaration that the nameplate is officially back. Kia Through Kia's commercial, a young boy wonders out loud what it'd be like if the millions spent on Super Bowl commercials were used to help others.