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This 1,000-horsepower, rear-drive Toyota Corolla iM could be yours

We were amazed last year when we learned that Papadakis Racing built Fredric Aasbo a rear-drive, 1,000-horsepower 2017 Toyota Corolla iM for drifting. Now we're amazed that the car could end up in the hands of an average person, because the car is currently going for auction on Bring A Trailer. Just as a quick recap for those that might have missed hearing about the car last year, the little Toyota hatch features a turbocharged and nitrous-injected 2.7-liter 2AR-series Toyota four-cylinder. Variants of that engine are found in older Toyota RAV4s and Camrys. According to Bring A Trailer, the engine hits 1,000 horsepower and 850 pound-feet of torque when running on E85. Power goes through a four-speed dog box manual transmission to the rear wheels. Now there is the question of what you would do with such a mad machine. One possibility is to run it again in the Formula Drift series the car was built for. Bring A Trailer reports that it should be legal for the 2019 season, and with extra parts and wheels, you would be in a good spot to get started. The seller does note that all the graphics and sponsor decals would have to be removed if it's entered again. Even if you didn't run it in a professional drift series, it would probably be a fun car to use in more grassroots drift events or even just as a track car of some sort. There's also one more potential option that would be totally absurd. You see, it appears Papdakis Racing started with a factory-built, street legal Corolla iM that could have easily gone on to see a life of ferrying a young couple or family around in efficient, affordable style. As such, it should have a VIN that could be used to register and insure the car without too much trouble. It even still has functional lights. As long as you're in a state that doesn't have modification or emissions restrictions, it could be possible to make this a street car. Now we're not positive on this, so do your due diligence before plunking down cash for it, but it does seem possible, and it would be crazy and awesome. Related Video:

DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.

Toyota ending Prius Plug-In production in June

The fourth-generation Toyota Prius and it's potential 58 miles per gallon fuel economy isn't due until later this year at the earliest, and some folks suspect it will be well into next year. But at least you'll still be able to buy one until it arrives; the same can't be said for the plug-in Prius - "Pip" to its friends - that will cease production this June. Nathan Kokes, a marketing representative in Toyota's Advanced Technology division, made the announcement on the forum Prius Chat without giving any reason for the decision. Inside EVs says there about 1,100 Prius PHVs in stock at dealers, which would last for just under three months at the average sales rate this year. Assuming no changes in production to boost stocks, that would give you until the end of summer to fulfill your first-generation Prius PHV dreams, then there'd be a drought for an unknown length of time. For the conspiracy theorists looking to the sales numbers or the Mirai launch for cause, Kokes did join the chat thread once after the announcement to say that "will have plenty of Prius Plug-in Hybrids to sell long after [June]," and, "production plans and product cadence are in no way timed to any external incentive (i.e., CA HOV sticker), competitive product or the upcoming Mirai launch." With Toyota having delayed the standard car to get it just right, there's no telling how long the plug-in version will take since it aims to satisfy high-order customer demands like wireless charging and more electric range, and perhaps the rather long list of "minor" changes that include things like more paint options, HVAC operation, the placement of the charge port, and more driver convenience features. Related Video: News Source: Prius Chat via Inside EVs Green Plants/Manufacturing Toyota Car Buying Hatchback Hybrid toyota prius plug-in