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U.S. and Toyota Reach Settlement Over Safety Problems Disclosure

The U.S. has reached a $1.2 billion settlement with Toyota Motor Corp., concluding a four-year criminal investigation into the Japanese automaker's disclosure of safety problems, according to a person close to the investigation. Attorney General Eric Holder, Transportation Secretary Anthony Foxx and U.S. Attorney for the Southern District of New York, Preet Bharara, were announcing the settlement Wednesday morning, said the official, who spoke on condition of anonymity because the official was not authorized to discuss the settlement on the record before the announcement. TOP 5Most Researched Green Cars On AOL Autos 2013 Honda Fit EV MSRP : $36,625 2014 Chevrolet Spark EV MSRP : $26,685 2012 Mitsubishi i-MiEV MSRP : $29,125 2012 Ford Focus Electric MSRP : $39,200 2012 Toyota Prius Plug-in MSRP : $32,000 In a statement early Wednesday, Toyota said it has "cooperated with the U.S. Attorney's office in this matter for more than four years" and had "made fundamental changes to become a more responsive and customer-focused organization, and we are committed to continued improvements." The criminal investigation focused on whether Toyota was forthright in reporting problems related to unintended acceleration troubles. Starting in 2009, Toyota issued massive recalls, mostly in the U.S., totaling more than 10 million vehicles for various problems including faulty brakes, gas pedals and floor mats. From 2010 through 2012, Toyota Motor Corp. paid fines totaling more than $66 million for delays in reporting unintended acceleration problems. The National Highway Traffic Safety Administration never found defects in electronics or software in Toyota cars, which had been targeted as a possible cause. The settlement continues a string of bad publicity for Toyota, which before the unintended acceleration cases had a bulletproof image of reliability. Since the cases surfaced, the company's brand image has been damaged and it has lost U.S. market share as competition has intensified. Last year, Toyota agreed to pay more than $1 billion to resolve hundreds of lawsuits claiming that owners of its cars suffered economic losses because of the recalls. But that settlement did not include wrongful death and injury lawsuits that have been consolidated in California state and federal courts. In December, Toyota filed court papers after a four-year legal battle saying that it's in settlement talks on nearly 400 U.S. lawsuits, but other cases aren't included in the talks.

Toyota releases teaser for Kaley Cuoco Super Bowl ad

Toyota has released a 35-second teaser video for its upcoming Super Bowl spot staring Kaley Cuoco, the actress best known for her role as object-of-nerd-affection Penny on The Big Bang Theory. The real star of the ad, however, is its soundtrack, the 1995 hit "I Wish" by rapper Skee-Lo that will have your mind cashing nostalgia checks the moment it hits your ears.
We still don't know much about the content, plot or story of this Super Bowl commercial, though we can say that its object of promotion is likely the new RAV4 we see Ms. Cuoco driving in this teaser. The rest of the time she's walking the street in a purple getup granting wishes like Robin Williams on a Disney sound stage. And then the Easter Bunny and a chihuahua enter the picture and we get lost. Clint Eastwood under a bridge this is not.
But hey, Super Bowl ads cost millions and millions of dollars to produce and air, so we trust that Toyota spent its money wisely and will have us ROFLing on game day. Until then, scroll down and witness for yourself the debut of Kaley Cuoco as a Toyota spokeswoman.

Eiji Toyoda dead at 100

Toyota has had number of chiefs over its 76-year history, but none ever served as long as Eiji Toyoda. The younger cousin of the company's founder served as president of the automaker from 1967 to 1982 and as chairman of the Toyota Motor Corporation for another ten years following the unification of the manufacturing and sales divisions.
During his 25 years at the helm, Eiji Toyoda (pictured above in 1967) was credited with establishing the company's headquarters in Toyota City, spearheading the development of the Prius, expanding production overseas for the first time, launching the Lexus brand and turning Toyota from a minor player into one of the largest automakers in the world.
Even after his retirement in 1992, he remained an honorary chairman and close advisor to his successors, and chaired the company's museum. He died of heart failure, ending a 100-year life that started on September 12, 1913, before the company that bore his family's name (albeit slightly modified) had even started building automatic looms, let alone automobiles. We extend our condolences to the Toyoda family and our congratulations on an accomplished life.