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Toyota settles complaints with states Attorneys General for $29 million

Toyota announced today that it has reached a settlement with the Attorneys General of 29 states and one US territory that will resolve their complaints relating to recalls performed by the automaker from 2005-2010, including those related to sticky accelerators and malfunctioning floor mats that may have contributed to cases of unintended acceleration.
The settlement includes a payout of $29 million to be divided among the states and US territory, as well as a commitment from Toyota "to take steps to make vehicle information more easily accessible to consumers to help them operate their vehicles safely and make more informed choices." The settlement also has Toyota continuing its rapid-response service teams and quality field offices that were put in place shortly after the largest of the recalls from 2010, as well as a "range of customer care amenities for owners of vehicles subject to certain recalls," though the press release below isn't specific about what those amenities might be.
This settlement marks the second major step in the last few months that Toyota has taken to settle legal disputes surrounding the unintended acceleration recalls, the first being a $1.4 billion settlement to address economic loss suffered by owners of current and past Toyota vehicles that may have lost value on account of these recalls.

EPA says automakers ahead of schedule for 54.5 MPG by 2025

Remember, the target is 54.5 miles per gallon by 2025. Today, the CAFE level is a little over 30. How we get from here to there is something the US Environmental Protection Agency (EPA) is monitoring closely. Thus, the EPA just released an annual flash report on how the auto industry is progressing towards meeting the nation's fuel economy goals. Overall, the industry is doing almost 10 grams per mile (equivalent) better than the rules require. The good news is that the industry is a bit ahead of schedule. In the report (see page iii), the EPA breaks things down by automaker based only on MY12 numbers. Tesla is at the top of the list (which is ranked by over-compliance with 2012MY CO2 standards), but for our money, the real leader is Toyota. The Japanese automaker built the second-highest number of vehicles (2,020,248, after General Motors' 2,364,374) but racked up the most net 2012 over-compliance credits (13,163,009 metric tons). That's an average of over 6.5 metric tons per vehicle. The next closest is Honda, with just over five metric tons of credits per vehicle. Given the MPG fiasco with Hyundai and Kia, the EPA says, "we are excluding Hyundai and Kia data because of the ongoing investigation into their testing methods," but overall, the rest of the industry has credits worth 25,053,168 metric tons of CO2, which means it's doing almost 10 grams per mile (equivalent) better than the rules require. Go team. For now, the numbers in this report (and there are a lot more of them – get the 59-page PDF for yourself here), can't really be used to understand everything from the first year of the new CAFE program. The EPA writes, "Because the program allows credits and deficits to be carried into future years, at the close of the 2012 model year no manufacturer is considered to be out of compliance with the program. ... Compliance with the 2012 model year standards can't be fully assessed until the end of the 2015 model year." There are a more interesting tidbits in the report, such as the fact that Fisker produced 1,415 model year 2012 vehicles, Tesla made 2,952. Remember, too, that CAFE numbers don't equal the fuel economy you see in your daily drives. In the real world, the 54.5 CAFE level will be about 40 mpg, and the average fuel economy today is around 25 mpg, so we have a ways to go, no matter how you measure it. EPA Report: Data Show Automakers on Track in meeting Greenhouse Gas Standards WASHINGTON – Today, the U.S.

Nissan, Toyota offering payment deferments to people affected by government shutdown

Two weeks into the budget-related government shutdown and it sounds like some progress is finally being made, but that doesn't really help furloughed government employees pay their bills. To help out a little, Nissan and Toyota are joining Hyundai with offering payment deferments to current owners and lessees.
In a release, a Nissan spokesperson said the company is "sympathetic to any of our customers who find themselves in difficult financial circumstances - many times outside of their control."
Both Japanese automakers are allowing payment extensions of up to 90 days without penalties or fees. Unlike the Hyundai Assurance Plan, though, it doesn't seem like the Nissan or Toyota assistance will be extended to those who are still in the buying process. Scroll down for press releases from both companies about their respective payment deferment programs.