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Autoblog Podcast #398

Episode #398 of the Autoblog Podcast is here, and this week, Dan Roth, Brandon Turkus, and Michael Harley talk about the 2015 Ford Mustang, the 2015 Toyota Camry, and the Congressional grilling NHTSA received last week. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #398: Topics: 2015 Ford Mustang 2015 Toyota Camry NHTSA under Congressional fire In The Autoblog Garage: 2014 Lexus ES 300h 2014 Lexus GS 350 F-Sport 2015 Kia K900 Hosts: Dan Roth, Michael Harley, Brandon Turkus Runtime: 01:36:56 Rundown: Intro and Garage - 00:00 2015 Ford Mustang - 28:58 2015 Toyota Camry - 42:41 NHTSA - 57:55 Q&A - 01:17:15 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Government/Legal Podcasts Ford Kia Lexus Toyota

Toyota recalls 209,000 FJ Cruisers over seatbelt issue

Toyota has announced that it will be issuing a substantial recall of the FJ Cruiser for a problem that could cause the front seatbelt retractors to separate from the vehicle body. This recall will apply to all FJ Cruisers - from 2007 through 2013 - totaling around 209,000 units.
The problem stems from the FJ Cruiser's pillarless door opening design that has the front-occupant seatbelts attached to the rear doors. Toyota says that when the rear doors are "repeatedly and forcefully closed," the retractor could completely separate from the door frame.
While there is no information about this recall from the National Highway Traffic Safety Administration yet, Toyota says that there have been no accidents or injuries associated with this issue. No specific fix or recall date are given, but the official press release is posted below.

Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.