/PRNewswire/ -- 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 effort to address this situation for our customers as quickly as possible."
Toyota announced it would recall approximately 2.3 million vehicles to correct sticking accelerator pedals on specific Toyota Division models. Toyota has investigated isolated reports of sticking accelerator pedal mechanisms in certain vehicles without the presence of floor mats. There is a possibility that certain accelerator pedal mechanisms may, in rare instances, mechanically stick in a partially depressed position or return slowly to the idle position.
Toyota's accelerator pedal recall and suspension of sales is confined to the following Toyota Division vehicles:
2009-2010 RAV4,
2009-2010 Corolla,
2009-2010 Matrix,
2005-2010 Avalon,
Certain 2007-2010 Camry,
2010 Highlander,
2007-2010 Tundra,
2008-2010 Sequoia
No Lexus Division or Scion vehicles are affected by these actions. Also not affected are Toyota Prius, Tacoma, Sienna, Venza, Solara, Yaris, 4Runner, FJ Cruiser, Land Cruiser and select Camry models, including all Camry hybrids, which will remain for sale.
Due to the sales suspension, Toyota is expected to stop producing vehicles on the following production lines for the week of February 1 to assess and coordinate activities. The North America vehicle production facilities affected are:
-- Toyota Motor Manufacturing, Canada (Corolla, Matrix, and RAV4)
-- Toyota Motor Manufacturing, Indiana (Sequoia and Highlander)
-- Toyota Motor Manufacturing, Kentucky - Line 1 (Camry and Avalon)
-- Subaru of Indiana Automotive, Inc. (Camry)
-- Toyota Motor Manufacturing, Texas (Tundra)
No other North American Toyota vehicle production facilities are affected by the decision to stop production.
The sticking accelerator pedal recall is separate from the on-going recall of Toyota and Lexus vehicles to reduce the risk of pedal entrapment by incorrect or out of place accessory floor mats. Approximately 1.7 million Toyota Division vehicles are subject to both separate recall actions.
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Tuesday, January 26, 2010
Toyota Temporarily Suspends Sales of Selected Vehicles
Wednesday, December 3, 2008
Big Three Auto Makers Compared To Toyota and Honda by ProCon.org on New Research Website
/PRNewswire/ -- ProCon.org, a nonpartisan 501c3 nonprofit research organization, created the new website bigthreeauto.procon.org to explore the question "Should the Big Three auto makers be bailed out by the US government?"
Pro and con statements addressing this question come from President-Elect Barack Obama, former Massachusetts Governor Mitt Romney, Nobel Prize winning economists Paul Krugman and Gary Becker, General Motors CEO Rick Wagoner, former US Energy Secretary and US Senator Spencer Abraham, and several others.
Also included on the site are:
-- Chapter 11 bankruptcy laws explained,
-- Contracts between the Big Three and the United Auto Workers,
-- Analysis of "legacy" employees and their impact on profits, and
-- 144-point chart comparing GM, Ford, Chrysler, Big Three combined,
Toyota, and Honda.
Some interesting points from this chart comparison include:
* General Motors, Ford, and Chrysler had a combined US market share of 51.8% in December 2007. As of Oct. 2008, their market share declined by 5.1% to 46.5%. Toyota and Honda, during that same nine-month period, increased their US market shares by 3.1% to a combined 28.4%.
* In 2007, the Big Three sold 18 million autos for $387.5 billion. In 2007, Toyota and Honda sold 12.2 millions cars for $304 billion.
* In the US, the Big Three directly employ 242,000 people and an estimated 2.5 to 3 million indirectly.
* Ford received a $1.29 billion tax refund in 2007 while General Motors paid $37.16 billion in 2007 taxes.
ProCon.org made its Big Three research publicly available for free and without advertising on the website bigthreeauto.procon.org.
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Thursday, September 4, 2008
New Cars Show Signs of Sales Strength in August '08
PRNewswire/ -- The Toyota Camry and Honda Accord saw a rise in views of 34% and 39% respectively in August 2008 compared to August 2007, enough to give them the first and second place slots as the most-viewed new vehicles on AutoTrader.com according to the just released August 2008 AutoTrader.com TrendEngine report.
Views for cars on AutoTrader.com generally increased year-over-year from 2007, and despite dropping gas prices, trucks largely continued the downward trend in views begun earlier this year.
The full-size Ford F-150 pick-up was one of the few trucks to show signs of improvement, with an uptick of 18.45% in views as consumers searched for deals. Ford is currently offering sizable incentives on remaining 2008 F-150 inventory in preparation for the September launch of an all-new 2009 model.
Compact crossovers -- car-based vehicles designed to offer a higher driving position without the drawbacks of truck-based vehicles -- had seen their sales suffering alongside traditional SUVs during this past June and July. August saw the beginning of a rebound for these vehicles, as was evidenced by the 7.12% year-over-year increase in views for the Honda CR-V and the 19.36% year-over-year increase in views for the Toyota RAV4.
"Though much has been made of the rise of small cars, the biggest beneficiaries of rising gas prices have been midsize sedans and compact crossovers, the latter having served to replace the traditional family station wagon and larger SUVs," said AutoTrader.com President and CEO Chip Perry. "As manufacturers reallocate resources away from full-size pick-ups and traditional SUVs, our market demand data suggests they would be wise to pay the most attention to these vehicles which make up the heart of the market."
Among smaller cars, two larger gainers were the Toyota Corolla and Ford Focus, both of which continued to enjoy the success of recent redesigns. The Corolla improved its position on the most-viewed list from 12th in August 2007 to 7th this year, with views up 43%, while the Focus moved from 32nd to 19th, as views increased 63% in August 2008 compared to August 2007.
"Today's compact cars offer significantly more in terms of value, features and, most importantly, space, than what consumers traditionally think of when they consider 'small' cars," said Perry. "The most popular vehicles in this segment, such as the Civic, Corolla and Focus, offer an ideal mix of room and comfort for not only single people, but even small families."
The new Chevy Malibu continues to also generate dramatic interest. In August '08, views of the Malibu were up 279% compared to views in August 07, following on a 293% surge in views of the Malibu in July '08 compared to July '07. This car continues to benefit from strong marketing and consumer interest.
Truck Resale Values Continue to Plummet
The used car market continued to show overall softness, especially in terms of pick-up trucks and SUVs. While the asking prices among cars in the top 20 most-viewed used vehicles were generally flat, or in the case of the small cars such as the Honda Civic and Toyota Corolla, up slightly, truck asking prices recorded double-digit year-over-year declines. The asking price for used Ford F-150s took the largest hit, recording a drop of 17.56%, or $3,479 on average. The once-popular Chevrolet Tahoe was also not immune, with asking prices for used versions of the full-size SUV dropping 17.26%, or $4,104 on average.
"For buyers who need a pick-up or SUV, whether for work or for personal use, this is definitely a great time to buy," added Perry. "Manufacturers are offering strong incentives on new trucks, while records of inventories for used models allow consumers the chance to score a truly great deal."
A "view" on AutoTrader.com is the display of the details page of a specific automobile, which includes information, photographs and contact information for that vehicle, and is thus a stronger indication of consumer interest in that model than searching broadly for information on that make and model.
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