Unintended acceleration settlement hits Toyota’s Q4 bottom line

Unintended acceleration settlement hits Toyota’s Q4 bottom line

May 10, 2014 by · Leave a Comment 

Filed under: Toyota , Earnings/Financials 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. The settlement certainly seemed to stagger Toyota for the quarter, especially in the US. But it didn’t do much overall.

Hot Wheels accused of stealing Icon FJ40 Baja design [UPDATE]

Hot Wheels accused of stealing Icon FJ40 Baja design [UPDATE]

June 6, 2012 by · Leave a Comment 

Filed under: Classics , SUV , Government/Legal , Toyota , Toys/Games , Specialty , Design/Style , Off-Road In a perfect world, all of our favorite companies would get along merrily. But sadly, we do not live in a perfect world. Icon , the company behind some of the most lust-worthy vintage off-roaders and street machines in existence, is accusing toymaker Mattel of stealing the FJ40 Baja Edition design for a Hot Wheels die cast toy. According to the most recent Icon newsletter, Hot Wheels lifted a photo of the heavily modified FJ40, slathered a quick Photoshop job over the image and called it a day. Except Mattel reportedly never asked Icon for permission to use the image or the vehicle design in its marketing or products. Icon reportedly reached out to Mattel to no avail. That’s about when the custom builder turned to its lawyers, prompting the attorney for Hot Wheels to say the company wanted to settle the matter out of court. A month went by before Icon once again tried to reach out. Mattel allegedly dismissed Icon, effectively challenging the smaller company to try to sue the toy monolith if Icon thought it stood a chance. Hot Wheels hasn’t spoken out on the issue.

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