Posts Tagged ‘Toyota Motor Corp.’
December 30th, 2012
Consumer Reports has named the Toyota Prius the overall best value for your new car dollars. The Prius edged out the Honda Fit, which held the title for the previous 4 years. Although the Prius ($24,200) starts at around $8,500 more than the Fit, testers felt the Toyota’s winning blend of low cost of operation and excellent overall quality were enough to place it on top.
Said CR Automotive Editor Rik Paul:
“The Prius may not be the most exciting vehicle to drive, nor the cheapest to purchase, but it’s extremely reliable, roomy, rides well, gets great fuel economy, and is inexpensive to operate.”
Much more than just a car’s purchase price goes into overall value. An oft-overlooked factor is resale value, where the Prius excels even as cheaper-priced cars like the Nissan Versa falter. Costs of daily operation and repairs are just as important: luxury cars do not generally make good value buys, owing to their poorer fuel efficiency and the sky-high cost of parts and labor as much as their higher transaction prices.
The 2013 Consumer Reports Best Value award winners by segment:
Small hatchbacks: Toyota Prius
Small sedans: Toyota Corolla
Family sedans: Toyota Camry Hybrid
Upscale sedans: Acura TSX
Luxury sedans: Cadillac CTS
Sporty cars: MINI Cooper
Wagons: Toyota Prius V
Small SUVs: Honda CR-V
Midsized SUVs: Toyota Highlander
Luxury SUVs: Lexus RX
December 28th, 2012
Current and former Toyota owners of any of the 8 million cars and trucks covered under the unprecedented unintended acceleration recalls: terms of an agreed-upon class-action lawsuit settlement mean you are eligible to receive a cash sum, additional safety equipment and/or additional warranty coverage for your vehicle as compensation for a loss in value.
The proposed $1.1 billion settlement, now in its final stages of approval but agreed upon by all parties, will apply to owners and former owners of the following models:
Camry Solara (2AZ) 2002-2008
Camry Solara (except 2AZ) 2004-2008
Celica (2ZZ) 2003-2005
Corolla (except 2ZZ) 2005-2010
Corolla Matrix (except 1ZZ 4WD, 2ZZ) 2005-2010
FJ Cruiser 2007-2010
Land Cruiser 1998-2010
Spyder (MR2) SMT 2001-2005
Supra (2JZ-GE) 1998
Tacoma (5VZ w/ETCS-i) 2003-2004
Tundra (except 5VZ) 2000-2010
Tundra (5VZ) 2003-2004
Yaris Hatchback (Puerto Rico only) 2006
GS HV 2007-2010
LS HV 2008-2010
RX HV 2006-2008, 2010
SC 1998-2000, 2002-2010
If you have sold or early-lease-returned your Toyota: A $250 million fund will be set up to compensate for a loss in value for former Toyota/Lexus/Scion owners of these models. If the fund is not large enough to cover the actual loss in value for all owners who seek compensation, it will pay out a pro-rated amount.
If you still own your Toyota: At no cost to you, Toyota will install a brake override system that will “automatically reduce engine power when the brake pedal and the accelerator pedal are applied simultaneously under certain driving conditions.” If your vehicle is not eligible for the install, you will receive a one-time payment of up to $125.
On warranties: Warranty coverage will be extended by at least 3 years, and up to 10 years or 150,000 miles, on all unintended acceleration recalled Toyota models. The warranty extension will cover only the affected systems, meaning the engine control module, cruise control switch, accelerator pedal assembly, stop lamp switch and throttle body assembly.
If you aren’t sure if your Toyota vehicle is among the affected models, check your VIN# here. Make sure to check back at this website for any news regarding the settlement, or if you want more information, read the full text here.
June 29th, 2012
U.S. and international auto sales continue to hold strong in 2012, with Honda and Toyota pacing the industry with big gains in May and June. The two automakers continue their strong recovery since Japan’s natural disasters of March 2011 destroyed production capacity. Toyota and Honda posted sales gains in May of 87% and 48% respectively, with projected June sales up 66% and 51%.
Toyota’s sales increases come not only due to a strong worldwide production recovery from natural disasters, but through a restoring of consumer confidence in the brand after the unintended acceleration scandal shook what is traditionally known as the most-reliable mainstream automaker. High (though falling) gas prices and an expanded hybrid lineup, now including the Prius v MPV and Prius c subcompact as well as the more-efficient redesigned 2012 Camry Hybrid, have helped restore sales to strong levels as Toyota once again has overtaken Chrysler as the U.S.’s third-largest selling automaker.
Over at Honda, strong 2012 Civic and redesigned CR-V sales have boosted the company’s bottom line. The Civic in particular was hit hard by production problems, which resulted in insufficient supply during the redesigned 2012 model’s vital Summer 2011 launch period. Honda is projected to gobble up 10% of the U.S. market once again in June, with gains from Honda and Toyota coming at the expense of Chevrolet and Hyundai in particular. An all-new Accord on the horizon should help continue the upward pace.
Overall, U.S. auto sales are projected to hit 13.5-14 million units in 2012, up from 12.8 million in 2011.
June 11th, 2012
Lexus will bring this very orange and highly tuned 2012 IS-F to this year’s Pikes Peak International Hill Climb event, which pits high-powered cars and motorcycles against each other in a race to the clouds. The IS-F CCS-R uses the same 5.0-liter V8 as the production car, pounding out 416 horsepower and 371 lb-ft. of torque, combining it with a lowered race suspension, an aggressive body kit and extensive use of carbon fiber for 693 lbs. in weight savings (and some very pretty photographs).
The Pikes Peak event takes place each year, run on a 12.42 mile course with 156 turns running from 9,390 feet above sea level to 14,110 feet. With several classes of cars and bikes providing exciting precision racing, some Pikes Peak cars in the anything-goes Unlimited Class feature well over 1,000 horsepower.
Catch the 2012 Pikes Peak Hill Climb on July 8th.
May 14th, 2012
Toyota Motor Corporation saw profits more than quadruple in Q1 2012, reaching 121 billion yen or around $1.5 billion, up from just 25.4 billion yen in Q1 2011. The big jump in profits came on sales of 5.7 trillion yen or $71.3 billion, up from 4.6 trillion yen during the same period last year.
Toyota has fought toward a strong recovery since last year’s Japanese earthquake and tsunami hampered worldwide production and sales. Disaster-ravaged production caused the company to fall well short of consumer demand, opening the door for market share gains by Hyundai/Kia, Ford and GM. Now Toyota is fighting back with a collection of all-new products like the 53-city-mpg 2012 Toyota Prius c subcompact hybrid.
The 2011 Japan earthquake and tsunami forced Japanese firms to halt production, also destroying thousands of completed new cars.
Spurred by sky-high gas prices, year-to-date U.S. Prius line sales were up 55.7% through the end of April. Counting its several new-for-2012 variants, the Prius is now the 5th-best-selling model line in America, moving 25,168 units in April and joined by the 2012 Camry and Corolla in the top 10.
Toyota projects worldwide sales of 8.7 million vehicles for the fiscal year beginning April 2012, up from around 7.4 million the previous year. The company will focus on the Chinese, African, South American and European markets, where its product lineups have significant potential to grow.