Posts Tagged ‘Fremont

25
Jun
10

Toyota recalls Lexus HS250h hybrid for fuel spills

NEWS
Toyota recalls Lexus HS250h hybrid for fuel spills

Friday, June 25, 2010

••• Toyota said on Friday it will recall 17,000 Lexus luxury hybrids after testing showed that fuel can spill during a rear end crash.

The Japanese automaker said tests conducted for the National Traffic Highway Safety Administration found that fuel leaked during a rear impact crash at 50 miles per hour on a 2010 HS250h sedan. The test, conducted by a NHTSA contractor, showed that fuel spilled as the vehicle spun around after impact. (NHTSA CAMPAIGN ID Number: 10V285000)

Toyota’s own testing has not shown any spillage, but a spokesman said the company plans to issue a voluntary recall as it continues to try to replicate the government’s results. It is notifying dealers to stop selling the car.

Toyota, the world’s largest automaker, has attempted to rebound from a series of recalls tied to reports of unintended acceleration and other defects. The U.S. administration penalized Toyota with a record $16.4 million fine for acting too slowly on the recalls.

Dealers have repaired millions of vehicles, but the auto giant faces more than 200 lawsuits connected to accidents and the lower resale value of vehicles.

Earlier this week, Toyota Motor Corp president Akio Toyoda, the grandson of the automaker’s founder, apologized to shareholders for the trouble caused by the recalls. He said the company was doing its best to improve quality control.

Toyota said it has not identified a fix for the reported problems of fuel spillage.

Detailed information about this recall is available through Lexus Customer Satisfaction at 1-800-25 LEXUS or 1-800-255-3987 or at www.lexus.com/recall.
• Latest News & Headlines » Home «
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11
May
10

Toyota logs $1.60 billion 2009 profit despite recall woes

NEWS
Toyota logs $1.60 billion 2009 profit despite recall woes

Tuesday, May 11, 2010

••• Despite massive recalls that dented its safety image, Toyota Motor Corp. said Tuesday it logged a $1.60 billion group operating profit for the business year that ended in March, reversing the $4.99 billion loss recorded a year earlier.

It posted $2.27 billion in group net profit, compared with a loss of $4.73 billion in the 2008 business year, when the global financial crisis hit and car sales in the United States and Europe tanked. Group sales slipped 7.7 percent to $205.56 billion from $221.79 billion.

The steep rebound in profit – the first in two years – comes mostly as a result of cost-cutting efforts.

The safety woes mainly affected sales in the United States and Europe, but incentives in some regions helped shore up sales, limiting the fall in revenue.

“It was a year of being constantly on alert due to the series of recall matters, which caused concerns,” President Akio Toyoda said. “The severe conditions will likely continue, but I believe there is light far away amid the storm.”

Toyota now expects profits to grow in the current business year to next March. It forecasts a $3.03 billion group operating profit and $3.35 billion net profit on $205.56 billion in sales.

The company said it will focus on next-generation environmentally friendly cars by improving technology for hybrids and expanding its lineup. Also, it will gear up sales in fast-growing economies, particularly China and India.

Profit for the last business year mainly came from production cost cuts amounting to $5.63 billion, as well as $5.08 billion worth of reductions in fixed daily costs, including for labor, research and development, the company said.

Toyota said costs linked to its spate of worldwide recalls – $1.84 billion to $1.95 billion for the business year – were within expectations.

But concerns about potential massive recalls over accelerator defects continue.

The earnings results came a day after U.S. Transportation Secretary Ray LaHood hinted at a news conference at Toyota’s headquarters in Aichi Prefecture that more fines could be imposed if needed.

Last month, Toyota agreed to pay a record $16.4 million U.S. government fine for delaying a January recall over defective accelerator pedals.

Meanwhile, the U.S. Department of Transportation’s National Highway Traffic Safety Administration said in a statement issued Monday in Washington that it has opened an investigation into whether Toyota in 2005 notified the agency of a steering relay rod safety defect within five business days of learning of the defect’s existence, as required by law.

“We will fully cooperate with the investigation,” Toyoda said at the news conference.
• Source(s): Toyota Motor Corp.
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28
Apr
10

Toyota Recalls 50,000 Sequoia SUVs

NEWS
Toyota Recalls 50,000 Sequoia SUVs

Wednesday, April 28, 2010

••• Toyota Motor Corp will recall about 50,000 2003-year Sequoia sport utility vehicles in the United States and Canada to fix a problem in their vehicle stability control system, the company’s U.S. sales unit said Wednesday. Toyota Motor Sales U.S.A. Inc. said the recall will be conducted to adjust the VSC system, which is designed to control a loss of traction in turns as a result of front or rear tire slippage during cornering.

Without the adjustment, the VSC system could activate at low speed for a few seconds after acceleration from a stopped position, Toyota said. As a result, the vehicle may not accelerate as quickly as the driver expects, the company said, adding there have been no reported injuries or accidents as a result of this condition.

Detailed information and answers to questions are available to customers at www.toyota.com/recall and at the Toyota Customer Experience Center at 1-800-331-4331.
» See: Toyota Announces Voluntary Recall on 2003 Model-Year Sequoia to Upgrade Program Logic in Vehicle Stability Control System

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24
Apr
10

Recalls? Toyota Still Showing Profit

NEWS
Recalls? Toyota Still Showing Profit

Saturday, April 24, 2010

••• Results from Toyota Motor to be released next month are expected to show the auto giant returning to profit in the year to March, despite a massive recall scandal, news reports say.

The Japanese automaker is expected to post a group operating profit of up to 50 billion yen ($531.75 million), reversing a 461 billion yen ($4.90 billion) operating loss for the previous year, the Nikkei business daily said on Saturday.

The uptick is mainly due to cost-cutting and a weak yen, which offset the costs of the global recalls, the daily said.

The company has recalled around 10 million vehicles worldwide since late last year due to accelerator and brake defects, but nevertheless expected to see a ‘good earnings situation’ a Toyota executive told Kyodo News.

Toyota had earlier forecast an operating loss of 20 billion yen ($212.7 million) for the year to the end of March.

Sales were expected to show a five percent fall to 7.2 million units, Nikkei said. The better-than-expected sales were partially due to strong demand for its new Prius hybrid car in Japan.

A Toyota spokesman was not immediately available to comment on the report.

The firm is due to announce its earnings results in early May.

On Monday the company agreed to pay a $16.4 million fine, the largest for an automaker in the United States, for hiding for at least four months accelerator pedal defects blamed in more than 50 U.S. deaths.

Toyota faces at least 97 U.S. lawsuits seeking damages for injury or death linked to sudden acceleration and 138 class action lawsuits from American customers suing to recoup losses in the resale value of Toyota vehicles.

The company overtook General Motors in 2008 as the world’s top automaker, but the safety recalls raised questions over whether it sacrificed quality to become number one.
• Source(s): Toyota Motor Corporation & Nikkei Inc.
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