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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.

Chevy Bolt wins 2017 Green Car of the Year

We knew that a plug-in vehicle was going to win the 2017 Green Car of the Year award this year, given that all five finalists have a way to charge up. And when Ron Cogan, the editor and publisher of Green Car Journal, announced the winner – the 2017 Chevy Bolt EV – he said that the car itself represents one of those times in the auto industry when everything is about to change. Similar to the invention of the starter motor, things are about to get different. For now, though, the fact that the Bolt EV won an award sounds like the same old thing all over again. Just this week, it was named Motor Trends Car of the Year and to the Car And Driver Top 10 list. The other four finalists for Green Car of the Year included the Toyota Prius Prime, the Chrysler Pacifica, the Kia Optima (including hybrid and plug-in hybrid models) and the BMW 330e iPerformance. Last year, the winner was the 2016 Chevy Volt. Did Green Car Journal make the right selection this year? See the award ceremony below.

Toyota bringing updated Avensis to Geneva

The upper end of Toyota's sedan lineup in America may be all about the Camry and Avalon, but that's not the case everywhere in the world. Back home in Japan, Toyota offers the Crown and the Mark X. But in Europe, it all comes down to the Avensis. And the Japanese automaker is about to roll out an updated version at the upcoming Geneva Motor Show. The Avensis, for those unfamiliar, is Toyota's challenger to the likes of the Ford Mondeo (which we know as the Fusion) and the Volkswagen Passat, available in both sedan and wagon forms. It was first introduced in 1997 and is currently in its third iteration, but what you see here is not the fourth-generation model but an update on the MkIII that hit the European market in 2009. Full details on the refreshed model have yet to be disclosed, but the new Avensis clearly benefits from revised styling – carried out at the company's design studio in the South of France, with production to continue at the Burnaston plant in the UK. Expect a revised interior, updated equipment and a new engine range to also be part of the mix when the new Avensis is revealed in full early next month in Switzerland. TOYOTA TO REVEAL NEW AVENSIS AT THE GENEVA MOTOR SHOW Toyota will reveal the new Avensis at the Geneva motor show (3 – 15 March), the latest development of its contender in the European mid-size (D-segment) car market. New Avensis has been styled at Toyota's ED2 design studio in the South of France and developed by the company's R&D centre in Brussels. It will be built by Toyota Manufacturing UK at the Burnaston car plant, near Derby. The new model will deliver innovations in comfort and safety and will feature a new range of engines that promise both performance and efficiency. Avensis has been designed to appeal to fleet and private customers alike. Toyota will present new Avensis and host a press conference on its stand at the Geneva motor show at 12:15 on 3 March. Featured Gallery 2016 Toyota Avensis News Source: Toyota Geneva Motor Show Toyota Wagon Sedan 2015 Geneva Motor Show toyota avensis