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Unintended acceleration settlement hits Toyota's Q4 bottom line

Depending on how you want to look at things, the US Attorney's Office $1.2-billion dollar settlement with Toyota in March over its unintended acceleration recall was either a big blow to the company or completely inconsequential. From January to March, net income fell five percent to 297 billion yen ($2.89 billion), compared to 313.9 billion yen ($3.05 billion) a year ago. However, the automaker still posted record full-year profits worldwide.
Operating profit also fell in the US by 9 percent to $498.1 million for the quarter, but sales were up by 6 percent to 581,261 vehicles. According to Automotive News, global revenue was still up from January to March by about 13 percent and vehicle sales were up 6 percent to 2.58 million units.
However, the payment to the feds did little to hold the company back last year. For the fiscal year ending March 31, 2014, Toyota had net income of 1.82 trillion yen ($17.7 billion), compared to 962.1 billion yen ($9.5 billion) in the last fiscal year. Total vehicle sales were also up.

Toyota hits 10 million Camry models sold in US

This year marks 30 years of sales for the Toyota Camry in the US, and in that time, it has amassed more than 10 million sales. In its first year on the market, the Camry sold 52,651 units, but it has gone on to become the best-selling car in the US for the last 11 years.
Toyota says that "virtually all" current Camry models sold in the US are made here, and three-quarters of all Camry contents are domestically sourced. Scroll down for the official press release from Toyota, and be sure to check out our gallery of images showing every model year and bodystyle of the Camry since it first went on sale in 1983.

Toyota Camry to go turbo

As automakers strive to meet regulations, turbocharging is rapidly becoming the norm whether looking at pickups, sports cars or family sedans. However, Toyota remains a stalwart to the changing tide, and for the time being a trip into one of the brand's dealers shows nary a hint of forced induction – probably not for long, though. With models like the Lexus NX 200t and forthcoming IS 200t pointing the way, a big shift is afoot for one of the Japanese automaker's most popular products. Obviously, Toyota is no stranger to forced induction for performance applications like the turbocharged models of the Supra and MR2 in the '90s. But rather than reducing lap times, the latest application is more about improving emissions and fuel economy. According to Automotive News, the Camry is getting a 2.0-liter turbo four-cylinder in the near future as a replacement for its V6 engine option. The 3.5-liter six currently in the venerable sedan already makes 268 horsepower and 248 pound-feet of torque, versus 235 hp and 258 lb-ft in the NX 200t or 241 hp and 258 lb-ft in the IS from the new four. The base four-cylinder also might receive some upgrades. It could grow larger and run on the Atkinson cycle to find improvements, according to Automotive News. There might be a move towards CVTs, as well. Toyota is hardly alone in the shift towards forced induction. Honda is known to have a 1.5-liter turbo mill on the way for the next-gen Civic. In addition, that engine might find its way into the Accord and CR-V as well, according to Automotive News. Among the major Japanese automakers, only Nissan is taking a more measured approach towards forced induction in mainstream models. Rather than going all-in on turbos, the company is expected to shift more of its engines to direct injection to go after fuel economy gains.