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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.

Toyota demos its TRD Pro Series line [w/video]

With a rich history of creating off-road worthy trucks and SUVs and a somewhat bland impression of its brand overall, Toyota has wisely created a line of TRD Pro Series vehicles to spice up its showrooms and newly engage customers. Debuting at this year's Chicago Auto Show before rolling into dealers this fall, the TRD-tuned vehicles include the 4Runner, Tacoma and Tundra, all with added rough-road gear and amped-up looks.
The TRD Pro Series trucks might end up, in many cases, as lifestyle accessories for outdoorsy types, but that doesn't mean they're all show. TRD springs and Bilstein dampers are set up for off-road performance, while skid plates will protect the softish underbellies of these would-be rock-crawlers. The trio all get lifted over stock height, as well, with two-inch gains for the Tundra and Tacoma (lovingly referred to as "Taco Supreme" in the Toyota press release), and an inch-and-a-half rise for the 4Runner.
We detailed all of the changes to the Pro Series vehicles in our original announcement post, and you'll also find more granularity of information in the Toyota press release below. Before you dive in, however, be sure to take in our set of live, action-packed images from the Chicago Show floor.

Green self-driving cars take center stage in Tokyo

Visions of cars that drive themselves without emitting a bit of pollution while entertaining passengers with online movies and social media are what's taking center stage at the Tokyo Motor Show. Japan, home to the world's top-selling automaker, has a younger generation disinterested in owning or driving cars. The show is about wooing them back. It's also about pushing an ambitious government-backed plan that paints Japan as a leader in automated driving technology. Reporters got a preview look at the exhibition Wednesday, ahead of its opening to the public Oct. 30. Nissan Motor Co. showed a concept vehicle loaded with laser scanners, a 360 degree camera setup, a radar and computer chips so the car can "think" to deliver autonomous driving. The Japanese automaker called it IDS, which stands for "intelligent driving system." Nissan, based in Yokohama, Japan, said it will offer some autonomous driving features by the end of next year in Japan. By 2018, it said vehicles with the technology will be able to conduct lane changes on highways. By 2020, such vehicles will be able to make their way through intersections on regular urban roads. Nissan officials said they were working hard to make the car smart enough to recognize the difference between a red traffic light and a tail light, learn how to turn on intersections where white lane indicators might be missing and anticipate from body language when a pedestrian might cross a street. Nissan's IDS vehicle is also electric, with a new battery that's more powerful than the one currently in the automaker's Leaf electric vehicle. Although production and sales plans were still undecided, it can travel a longer distance on a single charge and recharge more quickly. A major challenge for cars that drive themselves is winning social acceptance. They would have to share the roads with normal cars with drivers as well as with pedestrians, animals and unexpected objects. That's why some automakers at the show are packing the technology into what looks more like a golf cart or scooter than a car, such as Honda Motor Co.'s cubicle-like Wander Stand and Wander Walker scooter. Instead of trying to venture on freeways and other public roads, these are designed for controlled environments, restricted to shuttling people to pre-determined destinations. At a special section of the show, visitors can try out some of the so-called "smart mobility" devices such as Honda's seat on a single-wheel as well as small electric vehicles.