As Gas Prices Rise, Toyota's Hybrid Sales Pass 3 Million
Toyota has sold 3 million hybrid vehicles since launching the Prius in 1997.
Toyota has sold 3 million hybrid vehicles since launching the Prius in 1997.
Chinese investors returning from the New Year holiday were greeted by a 25 basis point hike in interest rates. The Shanghai Composite Index lost 0.9%, in Hong Kong the Hang Seng Index fell 1.4%, and in Japan the Nikkei 225 Index declined 0.2%.
The world's largest automaker is looking to reduce managerial staff at its sales headquarters in Torrance, Calif., by offering workers a buyout.
Last year's massive recalls -- and the resulting legal fallout -- have given Toyota's reputation a beating, cutting into its sales. But the company can't blame all of its problems on the recalls. Analysts also point to another issue: A lack of compelling new models.
A U.S. District Court judge will not dismiss allegations against Toyota for problems related to sudden unintended acceleration in certain car models, as the automaker had hoped.
It's suffered massive recalls and a valuable yen, but Toyota is still selling strong. The company Friday reported a second-quarter profit that more than quadrupled to $1.2 billion on sales of $59.5 billion.
It's been a rough year for those in the branding business at big corporations. SEC probes, massive product recalls and one monstrous oil spill have taken a toll on the reputations -- and stock prices -- of some major companies. Here are 10 of the biggest losers so far.
In Asia Monday, Japan's Nikkei 225 Index slid 0.8% to 10,013. Markets in China and Hong Kong were closed in celebration of Chinese New Year.







