Jan29
Is the Obama administration and Rust Belt members of Congress taking political advantage of Toyota to bolster the fortunes of Detroit automakers? Given how Toyota has had to stop selling eight models, including the mega-popular Camry and Corolla, the question is worth posing. It was only a year ago that Toyota seemed impervious as Detroit automakers dangled on the ropes. General Motors and Chrysler received government loans, giving taxpayers a big stake in their recovery. The...
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Jan28
The fallout from the Toyota’s “stop sale” order and recalls is continuing, and widening by the hour. Toyota, for its part, is recalling an additional 1.1 million U.S. cars (on top of the 4.3 million already brought in) because of floor mat interference. Ford announced that it would stop production of a commercial van in China that, like the affected Toyotas, uses a CTS Corp. accelerator pedal assembly. Automakers, many of whom use Indiana-based CTS as a supplier, are issuing...
Ford Motor Co. (F) swung to its first annual net profit in four years and said it will remain profitable - on a pre-tax basis during the next two years. The second-largest U.S.-based auto maker must now weather a fragile automotive market, especially in Europe, where the loss of incentive programs is expected to reduce overall industry sales by as much as 2 million vehicles this year.
WASHINGTON -- Rental car firms Avis Budget Group and Enterprise Holdings said today they were pulling thousands of Toyota models covered by a recall for sticking accelerator pedals from fleets in the United States and Canada until a fix is available. In a statement, Avis Budget said the decision to idle 20,000 Toyotas was a precaution, that the affected models "represent only a small percentage of our overall fleet," and that it would not create problems meeting customer orders. "We...
TOKYO -- Toyota Motor Corp., battling an escalating crisis over the safety of its vehicles, said it will recall another 1.1 million autos in the United States to fix floor mats that may jam accelerator pedals and cause unintended acceleration. The action is an extension of last fall's recall, in which the world's largest automaker called back 4.3 million vehicles in its largest ever U.S. safety action. Wednesday's amended recall involves 2008-10 Highlanders and 2009-2010 Corollas...
Jan27
Toyota Motor Sales (TMS), U.S.A., Inc., today announced that it is instructing Toyota dealers to temporarily suspend sales of eight models involved in the recall for sticking accelerator pedal, announced on January 21, 2010. “Helping ensure the safety of our customers and restoring confidence in Toyota are very important to our company,” said Group Vice President and Toyota Division General Manager Bob Carter. “This action is necessary until a remedy is finalized. We're making every...
Toyota has announced that it will halt sales of eight models due to its ongoing problems with unintended acceleration. At issue are accelerator pedal mechanisms that could get stuck in the open position due to wear, causing the vehicle to accelerate uncontrollably. Earlier this month, Toyota announced a recall of 2.3 million vehicles with the possible defect. Late last year, the Japanese automaker recalled nearly four million vehicles for floor mats that could trap accelerator...
Jan26
For the first time since 1995, Nissan Motor Co. topped General Motors Co. in sales in Mexico last year. Nissan's light-vehicle sales fell 26 percent in 2009 to 156,186. But GM's tumbled 35 percent to 138,482. Mexico's total sales of new light-vehicles fell 26 percent to 754,930 in 2009.