April 10, 2013 |
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 |
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 |
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.
December 26, 2012 |
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.
November 24, 2012 |
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 |
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.