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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 sees Camry share loss despite predicting increasing sales

Toyota may be set to lose share the midsize sedan market. While speaking with Automotive News, Toyota North America CEO Jim Lentz said that if his company kept pace with the current swell in the market for family four doors, Toyota would need to sell around 500,000 Camry models. "I'm not sure we can do much more than 400 [thousand] today," Lentz said.
But that doesn't mean Camry sales are shrinking - on the contrary, Lentz thinks Toyota will likely sell more Camry units in 2013 than it did in 2012, it's just that the company isn't keeping pace with segment's current explosion in popularity. Industry wide, midsized sedan sales have increased by 20 percent. "Are we going to lose [Camry] share? Probably so," Lentz said, "but we will continue to grow in raw volume."
Toyota sold 404,886 Camry units last year, and the company just revised its 2013 sales objective from 2.18 million units earlier this year to 2.2-million plus units, so while things are looking up for the brand and Camry sales may be on the rise, Toyota may not have the muscle to keep up its share in the sedan segment. Whether that's because of a production bottleneck or a predicted sales ceiling isn't clear. We've got a call in and will update this news item if/when we learn more.

Ford F-150 could be affected by tornado-damaged supplier in S.C.

The disruption caused by a tornado that severely damaged a South Carolina auto-parts plant and killed a contract security guard last week could be felt by more automakers than just Ford and affect more than just its best-selling F-Series pickup, which is due for an update. And there’s still no estimate for when operations might resume at the plant. The Detroit Free Press reports that the BorgWarner plant in Seneca, near Greenville, makes transfer cases for F-150 and Super Duty pickups, the Ford Explorer and Expedition, Transit cargo vans, and Lincoln Navigator and Aviator SUVs. ItÂ’s also a supplier for the Ram 1500 and Toyota Tundra trucks. Transfer cases shift power from the transmission to the front and rear axles in four-wheel-drive vehicles. BorgWarner says it still has no update for when it might partially or fully resume operations. The tornado that ripped through the area in the western part of the state on April 13 tore the roof, walls and signage off the factory and killed a 77-year-old contract worker when the security building he was sheltering in collapsed. Only four or five others were inside the plant, which has been idled because of the coronavirus outbreak, when the tornado struck. In an SEC filing on Friday, Ford said it has sent employees to the site to help BorgWarner and assess the damage to FordÂ’s tooling. “Initial assessments indicate that the Ford tooling was not materially damaged in this incident,” Ford said in the filing. “We do not have sufficient information to estimate when the facility will be back on-line or whether or the extent to which this incident will impact our plans to resume production of four-wheel drive and all-wheel drive vehicles.” A Fiat Chrysler spokeswoman also told the Freep the company was working with BorgWarner on recovery plans. A Toyota spokesman told Autoblog that "we are collaborating with BorgWarner to help restore production for transfer cases for Tundra assembly. We are confident that theyÂ’ll fully recover over time." Like other automakers, Ford shut down production at its U.S. plants last month as a precaution against the coronavirus pandemic. But Ford hasnÂ’t yet said when it plans to reopen its factories. FCA is targeting May 4 to resume production. Models like the F-150 and Lincoln Navigator are major sources of profit for Ford, which estimated it lost $2 billion in the first quarter.