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Toyota Motor Corp

September 17, 2013 | By Jerry Hirsch
Back in 1950, Eiji Toyoda visited a Ford plant to learn how Americans made cars. The visit by a member of Japan's foremost manufacturing family changed the way Toyota Motor Corp. produced cars, altering the global auto industry. Toyoda, who is credited with developing the car company's efficient, low-defect manufacturing processes and who helped spearhead Toyota's aggressive push into the U.S. auto market, died Tuesday. He was 100. "Clearly Eiji was the person that laid the groundwork for what Toyota is today," said David Cole, former chairman of the nonprofit Center for Automotive Research.
April 11, 2013 | By Jerry Hirsch
A faulty airbag part that can explode and send shrapnel into the passenger cabin is responsible for the global recall of more than 3 million cars manufactured by Honda, Nissan, Toyota and General Motors and will likely lead to more recalls. The problem was reported to Japanese safety regulators late Wednesday night, but since the part manufactured by Takata Corp. is used internationally, it probably affects more automakers. “Takata supplies a lot of U.S. manufacturers too,” said Michelle Krebs, an analyst with auto information company
October 19, 1991 | From Times Staff and Wire Reports
Toyota Plans Joint Venture With IBM, Toshiba: Toyota Motor Corp. is negotiating with International Business Machines Corp. and Toshiba Corp. to establish a company to design automotive computer software, company officials said. The Toyota spokeswoman said an agreement has not yet been reached, but added that an announcement will be made soon. A spokesman for IBM said the jointly held company would design software for the development of new cars.
August 24, 1992 | From Times Staff and Wire Reports
Toyota Launches Probe of Camry Door Locks: Toyota Motors Sales, a unit of Toyota Motor Corp., said it established a customer assistance program to deal with reports of problems with power door locks on 1987 to 1991 Camry models. The move came amid reports that locks on some Camry models could jam, locking people out of their cars or trapping them inside. Toyota said the door locks are not used on the 1992 model Camry.
January 29, 1992 | From Times Staff and Wire Reports
Toyota to Build V-6 Engines in Kentucky: Toyota Motor Corp.'s U.S. subsidiary said it will begin making V-6 engines at its Kentucky powertrain plant in the fall of 1994. Toyota Motor Manufacturing U.S.A. said the new engine production will add 200 new jobs and will be housed in a $90-million expansion of the powertrain operations in Georgetown, Ky. The assembly plant is being expanded to boost capacity to 400,000 vehicles a year by late 1993 from the current 220,000 annually.
October 27, 2005 | From Bloomberg News
Toyota Motor Corp. dominated Consumer Reports' annual survey of automobile reliability, accounting for 15 of 31 vehicles rated "most reliable" by the magazine's readers. A total of 29 of the cars and trucks given a top score were Japanese brands, Consumer Reports said. General Motors Corp. and Ford Motor Co. had one entry each, while DaimlerChrysler's Chrysler had none. No European automakers made the list.
April 10, 2013 | By Jerry Hirsch
Ford and Toyota -- two of the biggest automakers in the world -- are in an ego contest over which car sells the most globally, the Focus or the Corolla. Earlier this week Ford Motor Co.  trumpeted how its Focus compact car is the bestselling vehicle in the world. Toyota says it's not true. Toyota Motor Corp. says it sold 1,160,764 Corolla nameplate vehicles globally in 2012, including sedans, wagon and liftbacks. Photos: Top 10 cars with lowest cost per mpg That's more than the 1,020,410 Focus models sold worldwide last year.
March 6, 2013 | By Jerry Hirsch
This post has been corrected. See the note at the bottom for details. In a move to give more autonomy to the regions where Toyota Motor Corp. sells cars and bring a new generation of leadership to the company's top management, the automaker announced sweeping executive changes Wednesday. Among the moves, Toyota appointed the engineer who developed the successful Prius hybrid as chairman of the company and named its first outsider, and first former General Motors executive, to its board of directors.
December 26, 2012 | By Times staff
Toyota Motor Corp. has agreed to pay between $1.2 billion and $1.4 billion to settle a class-action lawsuit filed in 2010 over allegations of unintended acceleration in some of its vehicles. The settlement would require Toyota to install a brake-override system in an estimated 3.25 million vehicles and pay car owners compensation for the alleged reduced value of the vehicles. According to attorney's for the plaintiffs, the estimated value of the settlement makes it the largest of its kind.
December 26, 2012 | By Ken Bensinger and Ralph Vartabedian, Los Angeles Times
Toyota Motor Corp., moving to put years of legal problems behind it, has agreed to pay more than $1 billion to settle dozens of lawsuits relating to sudden acceleration. The proposed deal, filed Wednesday in federal court, would be among the largest ever paid out by an automaker. It applies to numerous suits claiming economic damages caused by safety defects in the automaker's vehicles, but does not cover dozens of personal injury and wrongful-death suits that are still pending around the nation.
November 24, 2012 | By Jerry Hirsch, Los Angeles Times
Toyota Motor Corp. appears poised to regain its position as the world's largest automaker, a remarkable turnaround after years of safety recalls, huge federal fines and the Japanese earthquake last year. In short order, surging sales have put that all in the rearview mirror. Toyota is likely to sell 9.7 million vehicles this year, surpassing second-place General Motors Co. by more than 1 million vehicles and setting a record for annual auto sales. That's generating huge profits, with earnings tripling in the latest quarter to $3.2 billion and sales surging almost 20% compared with a year earlier.
November 14, 2012 | By Ken Bensinger
Toyota Motor Corp. has agreed to settle a shareholder class-action lawsuit related to its sudden acceleration problems for $25.5 million. The settlement would put to rest allegations that the company hurt the value of its stock by hiding defects and other safety problems as well as by not acting swiftly to address vehicles that accelerated out of control. Those problems came to the surface in late 2009 following a horrific San Diego County accident that killed a family of four in a Lexus.
May 14, 2002 | Bloomberg News
Toyota Motor Corp.'s fiscal second-half profit rose a better-than-expected 4.2% to a record, as the world's largest auto maker by market value sold more cars in the U.S. and gained from a weaker yen and lower costs. Net income for the six months ended March 31 climbed to $2.55 billion. Toyota joins Honda Motor Co. and Nissan Motor Co. in posting record earnings for the fiscal year just ended. All three grabbed U.S. market share from rivals, including Ford Motor Co.
November 9, 2012 | By Jerry Hirsch
Pursuing a strategy of working with other automakers, Toyota Motor Corp. said Friday that it will have Mazda Motor Corp. build a small car for the Toyota brand. The sub-compact, which will be sold in the U.S., will be based on Mazda's tiny Mazda2, a car that competes with the Ford Fiesta, Hyundai Accent, Chevrolet Sonic and Honda Fit. Toyota said Mazda will build about 50,000 of the yet-unnamed cars at a plant that's under construction in Mexico and set to open in late 2014. The cars, which will be sold as a Toyota, will go on sale sometime in 2015, the company said.
August 4, 2012 | By Jerry Hirsch, Los Angeles Times
Despite a recession in Europe and a shaky economy in North America, Toyota Motor Corp. is having a good year. So good that the Japanese automaker raised its estimate for the number of cars it will sell globally this year to a record 9.76 million, up 23% from last year. That would guarantee that Toyota would surpass General Motors Co. to regain its spot as the world's largest automaker. A host of new models and a rebound from the production and inventory problems caused by the Japanese earthquake and tsunami last year are responsible for Toyota's gains.
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