Archive | Auto Industry News

Toyota President Issues Apology for Safety-related Recalls

Toyota Motor Corp. President Akio Toyoda, in his first public appearance since a safety crisis engulfed the Japanese automaker, apologized Friday for the recalls, reported The Detroit News. Bowing deeply at a news conference in Nagoya, Toyoda, the grandson of the automaker's founder, said he ... Read More » Tags:

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Auto Suppliers See Better Times Ahead

Continued positive earnings and outlooks from major suppliers reflect a growing sense the worst is behind the auto industry, analysts said Friday, according to a report by The Detroit News. American Axle & Manufacturing Holdings Inc. reported fourth-quarter earnings of $48.6 million compared with a ... Read More » Tags: ,

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Toyota Boosts Lobbying by Hiring Clinton-linked Firm

Toyota Motor Corp., facing lawsuits and criticism surrounding its recall of millions of cars and a federal probe into a possible brake defect with its Prius hybrid, has boosted its Washington lobbying effort by hiring a firm with deep Democratic ties, Bloomberg reported. Toyota has ... Read More » Tags: ,

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Used-vehicle Prices Little Changed in Jan. from Dec., Up on Year

Used-vehicle prices were almost unchanged last month from December, but after a year of steady gains, they were up 16 percent from January 2009, Automotive News reported. The Manheim Used Vehicle Value Index stood at 117.6 for January. That is compared with 117.5 in December ... Read More » Tags: ,

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Toyota Pays Dealers Up to $75,000 for Longer Hours

Toyota's dealers, who have started to repair defective gas pedals in millions of U.S. vehicles, are extending hours, making house calls and offering other services as they try to repair the damage to Toyota's reputation, The Associated Press reported. Toyota is sending dealers a piece ... Read More » Tags: ,

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Edmunds.com: Toyota Already Recovering from Recall

SANTA MONICA, Calif. — Edmunds.com has noticed that Toyota purchase intent has risen dramatically since the company announced a fix for its recall. “Toyota purchase intent fell from 13.9 percent of Edmunds.com car shoppers to 9.7 percent during the height of the recall frenzy,” said ... Read More » Tags: ,

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