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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 sold record 1.52 million hybrids in 2017

Toyota has been selling electrified cars for more than two decades now, launching the Prius hybrid in Japan in 1997. Back in the fall of 2015, the automaker announced a number of goals as part of its "Environmental Challenge 2050." One of those was to sell 1.5 million hybrids (including its Lexus brand) annually by 2020. Toyota has announced that is has already achieved that goal, selling 1.52 electrified vehicles in 2017. That's an 8 percent increase of Toyota's 2016 hybrid sales, and means the company has sold more than 11.47 million electrified vehicles since it began. Toyota says that represents a reduction of more than 90 million tons of CO2. Last year's achievement "is a testament from our customers to the quality, durability and reliability of our electrified powertrains," says Toyota Executive VP Shigeki Terashi, "and, thanks to them, has led us to establish a solid and sustainable foundation for mass producing a more diverse portfolio of electrified vehicles across our range moving forward." Other goals of Toyota's Environmental Challenge 2050 are 30,000 annual fuel cell vehicle sales by 2020, mass production of battery electric vehicles in 2020 and annual electrified vehicle sales of 5.5 million by 2030. These are all part of Toyota's larger goal of reducing new vehicle CO2 emissions by 90 percent by 2050 (compared to 2010). Prior to 2016, Toyota hybrid sales peaked in 2013, at 1.28 million before slumping slightly in 2014 and 2015. Toyota saw an uptick and a new record in 2016, at 1.4 million, before setting yet another record in 2017, at 1.52 million. Related Video:

Toyota GT86 convertible could debut in March

The dates are lining up, now we wait to see how the badges align. Just before the Toyota GT 86/Scion FR-S/Subaru BRZ line-up was introduced at the Tokyo Motor Show last year, there was a report that Subaru was considering a convertible while Toyota wouldn't even comment on it. That got swapped around when earlier this year the chief engineer on Toyota's side said a convertible was coming, and then a Scion FR-S droptop was confirmed for early 2014.
Autocar now reports that the Toyota GT 86 convertible will make its first appearance at the 2013 Geneva Motor Show in March. In a car whose specs like weight, packaging, horsepower and center of gravity were all tightly controlled to get the most from the least, the changes necessitated by chopping the roof could make this a very different car. It's said to employ a fabric roof to keep a "small" weight gain check, and the suspension will be softened to work more harmoniously with the decreased body stiffness. And somewhere in all that the back seat and trunk space will need to take a hit.
In other news, Autocar says the hi-po GT 86 with some kind of capacitor system instead of batteries is being worked on for 2015.