Any recall can become costly for an automaker, but Toyota’s recall of 8.5 million vehicles worldwide will likely be especially costly when the dust finally settles.
In early February, Toyota estimated that total costs of the recalls would be around $2 billion. But as the month unfolded, falling sales ensued and that number quickly seemed to be conservative. [click to continue…]
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With final March sales figures still a few weeks away, reports have suggested that Toyota’s March Sales Event has already helped the embattled automaker regain lost momentum. As a result, Don Esmond, senior vice president of Toyota U.S. Sales, suggested that the current incentives might be extended.
According to Esmond, U.S. sales increased by 40 percent in the first 10 days of March. This is a huge gain following the dismal drop in February sales. Among the incentives that helped garner this huge gain is 0 percent financing on most 2010 models. [click to continue…]
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When something goes terribly wrong in the automotive industry, leave it to late night television to add fuel to the fire. For example, when the Big Three were on Capitol Hill, SNL ran a number of skits featuring a bumbling Bob Nardelli, Alan Mulally, and Rick Wagoner, as they requested federal bailout dollars.
Fast forward to the present and it’s no longer the Big Three consumed by late night jokes, but rather Toyota due to the company’s sweeping recalls. On the Late Show with David Letterman, a mock Toyota CEO Akio Toyoda was featured and he profiled the real problem at the center of the issue – American drivers. SNL also took their shots at the embattled automaker, and jokingly promoted Ford hybrids in the process. [click to continue…]
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With constant media scrutiny surrounding unintended acceleration, Toyota has released videos concerning the issue, and how to prevent it.
Sticking accelerators and runaway vehicles are not exactly common occurrences, but they’ve no doubt become events that concern consumers nevertheless. That’s why there are two new videos designed to held drivers stop their Toyota vehicles just in case this unexpected issue strikes. [click to continue…]
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Despite a spike of complaints surrounding unintended acceleration in Toyota vehicles, the automaker is still managing to keep consumers in showrooms thanks to substantial incentives.
Toyota’s March Sales Event has reportedly helped boost sales in the first several days of the month according to Don Esmond, senior vice president of automotive operations for Toyota Motor Sales. Although specific details of this month’s sales haven’t been disclosed, Esmond says the numbers have surpassed expectations in light of Toyota’s current struggles. [click to continue…]
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Toyota may finally begin operating its new plant in Mississippi in June of 2011 according to Japanese news sources. This is one of 10 assembly plants in the US, which together employ 33,400 workers and indirectly fuel another 160,700 jobs.
The Mississippi-based plant was originally intended to begin manufacturing operations in the second half of 2010. In 2008, Toyota had stopped work on the new plant, which was intended to build the Prius hybrid, due to declining auto sales in North America. With auto sales picking up again, Toyota may finally be making this plant operational. [click to continue…]
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Toyota’s FT-86 Concept is still a long way from showrooms, as it’s scheduled to enter production in 2012, but all-new pics of the upcoming sports car may indicate that its future looks promising.
Shown off along side the Celica, MR2, Supra and the Corolla AE-86, the Toyota FT-86 should be a continuation of Toyota’s performance heritage. Since the demise of the MR2, Toyota has been without a true sports car within its lineup. If the FT-86 stays on its path to production, it certainly could help to improve the brand’s image, particularly among Toyota enthusiasts. [click to continue…]
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While other automakers are reporting increased sales for the month of February, Toyota’s sales figures were a little less than stellar. Not only have Toyota’s recalls scared potential car buyers away, but other automakers are offering incentives that are specifically preying on the concerns of current Toyota drivers. In an attempt to move sales momentum in the other direction, Toyota is now offering a nationwide incentive plan with 0% financing.
February sales were down about 9 percent compared to a year ago. With thousands of sales lost due to sweeping high-profile recalls, Toyota is desperate to hold on to sales by offering 0% financing for as long 60 months on eight of the automakers’ most popular models. Customers can also opt for a low-payment lease deal on certain models as well. [click to continue…]
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What we’ve all been waiting for has finally arrived. Toyota just released their February sales figures, and the results are exactly what was to be expected.
With increasing scrutiny on Toyota’s recall issues not only from consumers, but also from lawmakers, sales fell a total of 8.7 percent compared to a year ago. The Toyota division saw a decrease of 10.6 percent with Lexus down 5.2 percent from February of last year. [click to continue…]
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Toyota has been consumed by negative press lately, but that doesn’t mean their vehicles have lost their competitive edge. The Toyota RAV4 in particular has remained one of the most successful compact crossovers since its introduction in the mid 1990s and continues to dominate the segment that it helped establish.
Wanting to continue its segment leadership, Toyota recently debuted the 2011 RAV4 ahead of the 2010 Geneva Motor Show. With its freshened design, wider stance, and more luxurious accommodations, the 2011 Toyota RAV4 is more sophisticated than ever before. [click to continue…]
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