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Penske's Toyota Sales on Pace to Fall 12% in February

DETROIT - Penske Automotive Group Inc.'s sales of Toyota-brand vehicles are on pace to fall 12 percent this month as the automaker's recall crisis ripples through the second-largest U.S. dealership group, Automotive News reported. Sales of used Toyotas will be flat, Chairman Roger Penske said, ... Read More » Tags:

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Toyota's Chief to Testify in Congress

Toyota Motor Corp. President Akio Toyoda, under growing pressure from U.S. lawmakers investigating the auto maker's safety recalls, changed course and said he would appear before Congress next week, The Wall Street Journal reported. Toyoda, who earlier balked at testifying in Washington, issued a statement ... Read More » Tags: , ,

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Tesla’s Musk Named Auto Exec of the Year

The 2010 Automotive Executive of the Year Innovator Award will be presented to Elon Musk, Chairman, Product Architect and CEO of the California start-up, Tesla Motors, The Detroit Bureau reported. The announcement came just before three Tesla executives were killed when a private plane they ... Read More » Tags: ,

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Toyota’s ‘Pattern of Hiding’ to Be Probed in Hearing

Toyota Motor Corp.’s “pattern of hiding” will be examined at a congressional hearing next week on safety recalls by the world’s largest automaker, said U.S. Representative Darrell Issa. Toyota said yesterday that President Akio Toyoda will testify at the Feb. 24 hearing of the House ... Read More » Tags: ,

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GMAC Execs to Testify About Taxpayer Bailout

WASHINGTON - GMAC Inc.'s CEO will testify before a congressional panel next week on the government's $17.2 billion bailout of the troubled Detroit auto finance company, reported The Detroit News. The Congressional Oversight Panel, created to oversee the $700 billion Wall Street and auto bailout ... Read More » Tags:

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U.S. Says No GM Ownership Conflicts in Toyota Case

LOS ANGELES - The U.S. government's majority stake in General Motors Co. has no bearing on the response of regulators to safety problems at Toyota Motor Corp., Transportation Secretary Ray LaHood said. Questions about whether the government stands to benefit as a GM shareholder from ... Read More » Tags: ,

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