2007 Toyota Solara Se Convertible Auto Cruise Ctrl 65k Texas Direct Auto on 2040-cars

Auto blog

Toyota's $1.6B unintended acceleration settlement approved

Toyota is now one step closer to putting its unintended acceleration woes behind it as it has received approval from the US District Court for the Central District of California to settle loss-of-value claims to vehicles associated with the 2009-2010 recalls.
As we reported back in May, the Toyota settlement is worth $1.63 billion, which, according to Bloomberg, includes a payout of $757 million to affected owners, $227 million to attorneys and an additional $875 million for vehicle upgrades. (We did the math, too, and that totals $1.859 billion, but there is no justification for the discrepancy. Fuzzy math, eh?)
Based on the estimated 22.6 million vehicles said to be included in this suit, that would make the average payment about $33.49 per vehicle, but the article says that owners, lessees and even renters will receive varying amounts ranging from $9.74 up to as much as $10,000. This settlement does not affect suits filed for personal injury or wrongful death.

Japan could consolidate to three automakers by 2020

Sergio Marchionne might see his dream of big mergers in the auto industry become a reality, and an analyst thinks Japan is a likely place for consolidation to happen. Takaki Nakanishi from Jefferies Group LLC tells Bloomberg the country's car market could combine to just three or fewer major players by 2020, from seven today. "To have one or two carmakers in a country is not only natural, but also helpful to their competitiveness," Nakanishi told Bloomberg. "Japan has just too many and the resources have been too spread out. It's a natural trend to consolidate and reduce some of the wasted resources." Nakanishi's argument echoes Marchionne's reasons to push for a merger between FCA and General Motors. Automakers spend billions on research and development, but their competitors also invest money to create the same solutions. Consolidating could conceivably put that R&D money into new avenues. "In today's global marketplace, it is increasingly difficult for automakers to compete in lower volume segments like sports cars, hydrogen fuel cells, or electrified vehicles on their own," Ed Kim, vice president of Industry Analysis at AutoPacific, told Autoblog. Even without mergers, these are the areas where Japanese automakers already have partners for development. Kim cited examples like Toyota and Subaru's work on the BRZ and FR-S and its collaboration with BMW on a forthcoming sports car. Honda and GM have also reportedly deepened their cooperation on green car tech. After Toyota's recent buyout of previous partner Daihatsu, Nakanishi agrees with rumors that the automotive giant could next pursue Suzuki. He sees them like a courting couple. "For Suzuki, it's like they're just starting to exchange diaries and have yet to hold hands. When Toyota's starts to hold 5 percent of Suzuki's shares, this will be like finally touching fingertips," Nakanishi told Bloomberg. "I absolutely do believe that we are not finished seeing consolidation in Japan," Kim told Autoblog. Rising development costs to meet tougher emissions regulations make it hard for minor players in the market to remain competitive. "The smaller automakers like Suzuki, Mazda, and Mitsubishi are challenged to make it on their own in the global marketplace. Consolidation for them may be inevitable." Related Video:

Toyota recalls 337,000 RAV4s and HS250h models for tie rod failure

UPDATE: The post has been updated with additional information from NHTSA. The Basics: Toyota is recalling 337,000 2006-2011 model year Toyota RAV4 crossovers built between October 31, 2005 and September 7, 2010 as well as 2010 model year Lexus HS250h cars built between July 6, 2009 and August 26, 2010. The Problem: When either an affected RAV4 or HS250h is given an alignment and the tie rod adjustment nut on the rear control arm isn't tightened properly, the threads on the tie rod can start to rust. If this happens, the nut may break off and throw off the alignment drastically and suddenly. This isn't a case of the car simply pulling to one side, either. This would seriously upset the balance of the car and could cause the driver to lose control and crash. This is also the third time these vehicles have been recalled for the same issue. Injuries/Deaths: It's unknown if this control arm issue has resulted in any injuries or deaths. Autoblog reached out to Toyota for more information, but a company representative told us that the company isn't able to discuss injuries or deaths caused by this issue (if any) at this time. Based on information from NHTSA documents, it does not appear that any crashes, injuries or deaths have been attributed to the defect addressed in the current recall. The Fix: The dealer will completely replace the rear suspension assemblies at no cost to the owner. The tie rods and nuts will also be coated in epoxy to prevent future rusting from occurring. According to Car and Driver, the previous recalls involved tightening nuts, coating decent tie rods in epoxy and completely replacing rusted ones. The car magazine reports that further complaints were filed and the company is now replacing all components regardless of condition. If you own one: Toyota will notify owners of affected cars by mail. Owners can also check whether their cars are affected by entering the VIN at safercar.gov/vin. Owners with questions can also reach Toyota customer service at 1-800-331-4331 or Lexus customer service at 1-800-255-3987. Related Video: Featured Gallery 2012 Toyota RAV4 View 16 Photos News Source: Car and Driver, Toyota, National Highway Traffic Safety AdministrationImage Credit: Toyota Recalls Lexus Toyota Safety lexus hs 250h lexus hs250h