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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.

Cosworth announces Power Packages for Subaru BRZ, Scion FR-S with up to 380 hp [w/video]

Cosworth stands on the list of the most famous engine tuners in the world with its DFV engine engine dominating Formula One for a time in the '70s. So when it teases plans to take on the FA20 engine from Subaru and Toyota found in the BRZ, Scion FR-S and Toyota GT86 abroad, our interest is indeed piqued. Cosworth is promising to take the 2.0-liter, four-cylinder boxer engine from its current 200 horsepower all the way to 325 hp and even 380 hp in a future track version through a series of staged Power Packages. At the moment, only the first stage is available that takes the mill to a potent 230 hp.
Cosworth says that its new strategy is to offer its upgrades in kits rather than individually so that it can be sure that everything works and fits when owners receive it. The Stage 1 Power Package emphasizes helping the FA20 breathe better and includes a nearly complete replacement for the stock exhaust system. There is a sports exhaust with four-inch, diagonally cut, polished tips and Y-shaped muffler, an overpipe front pipe with a spherical resonator and a new manifold header that is 22 percent lighter the standard unit. In addition to that, the kit comes with a software reflash, low temperature thermostat, Cosworth badge and plaque.
The stage one kit is available now, and stages two and three go on sale later this summer, according to its website. Autoblog contacted Cosworth for pricing information for the kits. We will update this story, if we hear back. The company also released a video showing off the exhaust upgrades. Scroll down to watch it and read the full release, below.

2014 Scion FR-S gets price increase, knee cushions [w/video]

There's not a lot of breathing room between the Scion FR-S and the Subaru BRZ - the two rear-drive coupes are about as close to badge-engineered as the auto industry gets in this day and age. In this case, that's not a terrible thing, though, since they're both so engaging to drive, but it does make for interesting comparisons when it comes to pricing and model year updates.
Late last month, Subaru announced pricing for its 2014 BRZ, which didn't get much more than the inclusion of Aha internet radio compatibility and a $25,595 starting price - just $100 more than the 2013 model's MSRP. A modest $25 increase in destination charges ($795) means that it starts at $26,390. For its part, Scion will ask $24,600 for a base 2014 FRS, plus $755 for delivery, for a total of $25,355. That means the Subaru is more still expensive, but it has more available equipment as well.
The 2014 Scion FR-S isn't getting many tweaks, but a couple of small changes - knee pads on both the transmission tunnel and the door panels around the speaker grilles and a new standard 6.1-inch touchscreen audio system - are appreciated. (Note: 2013 model shown above).