For many Americans, buying a new car right now just isn't an option. But for those who need a new set of wheels, there's a way around that problem: Buy one of the right used vehicles, and you'll be in a better position, both financially and from a car value standpoint. Which vehicles? Read on ...
Toyota is recalling nearly 2.2 million more cars to fix problems related to floor mats that can trap gas pedals and cause vehicles to accelerate uncontrollably. Among the models being recalled: The Toyota RAV4, 4-Runner and Highlander, and the Lexus LX 570, RX 330, RX 350 and and RX 400h.
Toyota plans to rev up its vehicle production in the U.S., despite November's 7.3% drop in U.S. sales. The automaker has hired the first of an expected 2,000 workers for a new Mississippi Corolla plant, and says it expects to boost overall capacity utilization significantly from last year's weak levels.
Tesla Motors has signed a $60 million contract with Toyota Motor to develop an all-electric version of the popular RAV4 compact sports-utility vehicle, Tesla said Wednesday.
With Honda's president saying the company had "no future" if it didn't make vehicles that emitted less carbon dioxide, the Japanese carmaker is now gearing up to join Toyota, GM and Nissan in the electric-car and plug-in hybrid derby.
Toyota Motor's recent $50 million investment in electric-car upstart Tesla Motors is already paying dividends. Tesla reportedly will ship two prototypes, based on Toyota's RAV4 sport utility vehicle and Lexus RX crossover, to the Japanese automaker later this month.
Toyota is accelerating payments to its 1,200 U.S. dealers for their efforts to help soothe rattled owners of some 2.3 million Toyota cars that have been recalled for unintended acceleration. The company's U.S. sales division will provide payments of $7,500 to $75,000 to help reimburse retailers for extended hours, car washes and other services.
Though the Transportation chief quickly backed down from his initial advice that owners of recalled cars "stop driving" them, Toyota can only chalk this up as one more disaster. Still, it's scrambling to get cars fixed and will have plenty of explaining to do when it reports earnings this week.
Toyota said Monday that it has begun shipping parts to its dealers to fix 2.3 million recalled cars with "sticky" accelerators and that it will begin sending letters to owners of the affected vehicles later this week. Many dealers will stay open extended hours, some around the clock, to repair the cars.
The recalls could cost the company tens of millions of dollars, but what about it dealers? Some estimates put their loss as high as $2.5 billion a month. That's a lotta Tundras-full of cash. If the recall and production shutdown drag on for months, it's possible that some dealers may have to close.