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First live photos and impressions of Toyota's 2014 Corolla

After releasing official pictures and a press release about an hour earlier, Toyota chose an aircraft hanger at the Santa Monica airport as the venue for the global introduction of its highly anticipated 2014 Corolla. Following an extended aerial acrobat show, which included performers running along the walls, swimmers romping in a massive overhead clear plastic pool and angry dancers destroying their cardboard stage in a glittery fit... the all-new C-segment star of the show was lowered on cables from the ceiling. (After the strobe lights and pounding sound that preceded it, the final vehicle reveal was almost anticlimactic.)
Face-to-face with the eleventh-generation sedan, we liked what we saw. Compared to last year's Corolla, the new model appears smaller in person - yet that is mostly an optical illusion. By the tape, it is four inches longer and slightly wider than its predecessor, but a bit shorter. The wheelbase has been stretched nearly four inches, yet the front and rear overhangs only give or take about an inch in the conversion. With the exception of the enormous wheel/fender gap (the new Corolla seems to ride too high), its overall proportions are very pleasing.
The fresh styling is modern and stylish, with sculpted lines that add character to a formerly bland sedan

Toyota recalling 1.67 million vehicles worldwide in 3 campaigns

Toyota is issuing three separate recalls covering 1.67 million vehicles worldwide with most of those models in Japan. It looks like the campaigns' impact on the US may be smaller, though. According to Reuters, Toyota isn't aware of any accidents, injuries or fatalities affecting the models. Some yet-unnamed Lexus models might also be affected.
The largest of the campaigns does not currently affect any US-market vehicles. About 802,000 units of the Toyota Crown Majesta, Crown, Noah and Voxy in Japan are being repaired to replace a seal that could leak in the brake master cylinder. Those already leaking get a new brake booster, as well, according to Reuters.
The only recall currently believed to affect the US is due to a problem covering approximately 759,000 vehicles with 423,000 of them here. The repair is to fix a faulty fuel delivery pipe that could cause a fire if the fuel leaks out. Unfortunately, we don't know which models it covers. Autoblog spoke to Toyota spokesperson Mona Richard and was told the information was still "under embargo." When exactly that embargo will lift isn't yet known, but we're on the case.

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.