International Recalls: Toyota, Honda, BMW...


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Economictimes
Toyota estimates it lost 20,000 sales in last week.
Toyota’s US sales decreased 16 percent last month, and its market share fell to 14.1 percent, its lowest level in four years. A year ago, Toyota’s share was 17.9 percent.

It was the first time Toyota sold fewer than 100,000 vehicles in a month since 1999.

Sales of the Toyota Camry midsize sedan, one of eight models affected by the more recent of two big Toyota recalls, declined 24 percent. Sales of the Tundra pickup truck dropped 45 percent.
 
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Yup, sales figures for Jan are a big indication of the impact of the perceived loss of quality in Toyota, and the other car makers are gaining numbers at their expense.
 

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350Z

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Time to re-name this as "Car Recall Thread" :wink:
Following Toyota and Honda, Now Peugeot has also recalled 97,000 units of Peugeot 107 and Citroen C1 cars in Europe. Most importantly, The problem faced in the models were same as of Toyota's because they were manufactured at plant in Czech Republic, The same producing Toyota Models as well.

Drive Safe,
350Z
 
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Something wrong with the plant maybe!![;)]

But sad news for Toyota and Honda! And now seems like Peugeot is also joining them!!
 
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Bad news is not stopping for Toyota, now its turn for Prius.

Economictimes
The crisis rocking Toyota escalated on Friday as the Japanese automaker looked set to recall several hundred thousand Prius hybrids and was slapped with a US lawsuit alleging it covered up safety problems.
 

350Z

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I just saw that few of the International websites have also created a "Toyota Recall Guide" :biggrin: Click here for more.

Drive Safe,
350Z
 
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Toyota sees $2 bn hit from recall problems

Important Excerpts from ET:

Toyota Motor Corp said its biggest ever safety recall would cost it up to $2 billion this quarter, but raised its outlook for the financial year to March after a forecast-beating third-quarter.

Toyota's recall of more than 8 million vehicles due to problems with unintended acceleration has punished its share price, dented its reputation and overshadowed what until just two weeks ago had been expected to be an upbeat story of improving earnings. Automakers enjoyed a boost in demand in the latter part of 2009, thanks largely to government incentives designed to spur sales and improving access to credit as the global economy recovered. Toyota was one of the biggest beneficiaries of the U.S. cash-for-clunkers scheme but has faced a firestorm of criticism in recent weeks for its handling of recalls centred there.

"There are more doubts about Toyota's ability to make sure clients are content with the quality of its cars," said Benedicte Mougeot, fund manager of HSBC GIF Japanese equity fund, in Hong Kong. With less than two months left in the current financial year, Toyota slashed what most analysts had considered an excessively conservative operating loss forecast to 20 billion yen ($220 million) from 350 billion yen. That compares with a 38 billion yen annual loss forecast in a survey of 19 brokerages by Thomson Reuters I/B/E/S.

Starmine SmartEstimates, which predicts earnings by putting more weight on recent forecasts of top-rated analysts, has Toyota posting an operating profit of 26 billion yen this year, and improving to 647 billion yen next year. A Toyota official said the new forecasts for the current year took into account an estimated 100 billion yen in costs for the recalls and a further 70-80 billion yen in lost sales. The figure was in line with analysts estimates.

Toyota posted October-December operating profit of 189 billion yen, easily beating a 99 billion yen estimated by Thomson Reuters I/B/E/S. It was its strongest profit in six quarters.

US safety regulators opened a formal investigation on Thursday into consumer complaints about braking on 2010 Toyota Motor Corp Prius hybrids.

The Transportation Department's National Highway Traffic Safety Administration (NHTSA) said it has received 124 complaints about momentary braking problems after motorists rolled over bumps or potholes. Four crashes were alleged by motorists to have been caused by the problems.

Toyota officials declined immediate comment. But the automaker's engineers in Japan said they had fixed a software problem related to anti-lock brakes on the new Prius model.

Late on Wednesday, Transportation Secretary Ray LaHood spoke with Toyota President Akio Toyoda, who reassured him that Toyota takes "US safety concerns seriously," a Transportation Department statement said.
Toyota shares, which fell 6 percent on the New York Stock Exchange on Wednesday, were off another 1.8 percent to $72.18 in early trading on Thursday. They closed off 35 percent in Tokyo.
 
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Yes i read in paper the problem with the braking in Prius was due to failure of some software which apparently happens when the ABS is activated in slippery surfaces!
 
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Toyota sued in California by U.S. shareholders

Toyota faced its first U.S. class-action lawsuits stemming from complaints of faulty brakes in its top-selling Prius hybrid car and from investors claiming they were misled about problems with unintended acceleration in a wide range of models.
Litigation mounted as the Japanese automaker prepared to follow global recalls of some 8 million vehicles for repairs to ill-fitting floor mats and sticking gas pedals with yet another recall to deal with braking problems in the new Prius model.
A class-action suit filed on Monday on behalf of U.S. shareholders accuses Toyota Motor Corp of issuing "materially false and misleading statements" about its "operations, its business and financial results and outlook."
The 42-page suit, filed in U.S. District Court in Los Angeles, said the car company "misled investors by failing to disclose that there was a major design defect in Toyota's acceleration system, which could cause unintended acceleration."
The suit covers buyers of publicly traded Toyota stock, including American Depositary Shares, between Aug. 4, 2009, and Feb. 2, 2010.
"As a result of defendants' false statements, Toyota's securities traded at artificially inflated prices during the class period, reaching a high of $91.78 per ADS on Jan. 19, 2010," the suit states.
Toyota's American Depositary Receipt closed Monday at $72.85, down 2.5 percent.
Toyota last week reported that its U.S. sales for January plunged 16 percent compared with the same month a year ago due to the recalls and subsequent suspension of sales of its eight most popular models.
The following day, share prices fell on word from Toyota that it had received reports of brake problems in its 2010 Prius, an issue that sparked a class-action suit in Los Angeles County Superior Court on Friday.
It seeks unspecified monetary damages and a court order requiring repairs to a braking defect that the named plaintiff, Elaine Miller, says makes driving her Prius dangerous.
Miller's lawyer, Daniel Warshaw, said on Monday he is seeking class-action status in California for all affected owners of the 2010-year Prius and the 2010 Lexus HS250h hybrid, which he said is equipped with the same braking system.
"The crux of the (suit) is to get these vehicles fixed and safe," he told Reuters.
Toyota has declined to comment on any of the pending litigation against it.
At least 30 class-action cases have been brought against the company over its recent troubles. But the shareholders suit and Prius case are believed to be the first of their kinds in a flood of litigation that legal experts foresee in the coming weeks and months.
PUTTING ON THE BRAKES
The Prius lawsuit says the cars "suffer from a material defect" in their "regenerative braking system" -- designed to recycle kinetic energy from the friction of slowing the car -- that causes the brake system "to routinely and systematically disengage."
Warshaw said he brought the suit in California because the state has some of the nation's toughest consumer protection laws and because Toyota's U.S. operations are based there.
Warshaw said the braking problem, apparently rooted in a computer software glitch, is most pronounced when trying to slow down or stop the vehicle on bumpy or slippery roads.
The National Highway Traffic Safety Administration, which is investigating the issue, has listed 124 such braking complaints from consumers since Feb. 3, including four reports of accidents, two of them said to have resulted in injury.
The suit suggests that tens of thousands of vehicles may be affected. The bulk of some 103,000 model-year 2010 Prius cars sold in the United States are in California, Warshaw said.
Toyota acknowledged it was aware of a braking problem and sought to fix it in production with a software adjustment starting in January, but 2010 models that rolled off the assembly line before that were sold without the change.
The 2010 model Prius was introduced in the United States in May 2009.
"We don't even know if the (production) fix was effective," Warshaw said. "They're required to issue a technical service bulletin" (to repair cars) but "that was never done."
The Prius has been the world's best-selling hybrid vehicle, helping Toyota grab 70 percent of the U.S. market for vehicles powered by a combination of an external-combustion engine and electric motor.
 
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Oh this is bad , even after recognizing the problem they failed to address it and now they are paying the penalty!!
 
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