Toyota recently announced it will begin exporting U.S.-built Camry cars and Sienna minivans to South Korea from plants located in Kentucky and Indiana. The cars will be shipped through the Port of Hueneme—ironically, one of the California ports that Occupy Wall Street protestors recently attempted to shut down. Some people may wonder why Toyota would ship U.S.-built cars 7,000 miles to South Korea instead of shipping Japanese-built cars 130 miles across the Korean Strait. One reason is the recently approved the South Korea–U.S. Free Trade Agreement (KORUS), which reduces South …
A lengthy article in today’s New York Times about Rep. Darrell Issa (R-CA) contains at least five major factual errors, including one that the undermines the central premise of the story, the congressman’s office asserted in a high-profile showdown with the Grey Lady. The newspaper already admitted to one mistake in the 2,700-word story, but reporter Eric Lichtblau said he would not correct other factual errors pointed out by Issa’s staff. Now, the central assertion of Lichtblau’s story — that Issa directed federal funds to increase the value of property he …
People who believe the United States no longer manufactures anything need to check out the newest Consumer Reports “Best Cars” list. The magazine recently selected the top cars for 2011 in 10 categories. Five “best models” are made in the USA, three in Japan, one in Canada, and one in Mexico. Category Manufacturer Model Plant Location Family Sedan Nissan Altima Smyrna, TN and Canton, MS Small Car Hyundai Elantra Montgomery, AL Budget Car Honda Fit Japan Small SUV Toyota RAV4 Canada Green Car Toyota Prius Japan Family SUV Kia Sorento …
The aftermath of the unintended acceleration hearings involving Toyota is moving to the front burner again as lawmakers are proposing legislation that would increase auto safety regulations to address all potential sources of unintended acceleration. The bill would also increase the budget of the National Highway Traffic Safety Administration (NHTSA) as well increase the maximum financial penalty Congress could impose on an automaker. Draft legislation titled The Motor Vehicle Safety Act of 2010 has been introduced in the House by Rep. Henry Waxman (D-Beverly Hills) and Rep. Bobby Rush (D-Ill.). …
The National Highway Traffic Safety Administration (NHTSA) still cannot determine what caused the unintended acceleration of a Toyota Prius last week in which a police officer was able to assist in bringing the vehicle to a stop without injury to anyone. In fact, when Members of Congress grilled Toyota representatives in several hearings, one of the reoccurring questions from Members was: Why didn’t you address the problem sooner. A legitimate question given the volume of complaints over the years but there are some trends that may shed light into what …
Toyota has seen better months than February when the automaker recalled millions of vehicles amidst a sticky pedal and unintended acceleration problem that led to sales decline of 8.7 percent. To win back the consumer, Toyota offered incentives including extended warrantees, auto maintenance plans and zero percent financing, and it appears to be working as Toyota sales in the United States are up 47 percent for the first 8 days of March compared to last year. David Strickland, administrator of the National Highway Traffic Safety Administration (NHTSA), spoke in front …
Toyota’s Chief Executive Officer Akio Toyoda testified yesterday about safety and quality control after his company recalled 8.5 million cars and trucks worldwide – 6 million in the United States. A deeply remorseful Toyoda feared the company may have been growing too quickly and outlined how the company would move forward with the recall. Earlier testimony included an anecdote from Lexus owner Rhonda Smith, who avoided catastrophe after her vehicle unexpectedly sped to 100 miles per hour, but she managed to eventually pull over. Smith berated Toyota and the National …
Toyota’s bad press has been for its sticky pedal incident certainly isn’t surprising, but is all the negative attention warranted? When asked about the Toyota recalls, Transportation Secretary Ray LaHood responded by saying, “My advice to anyone who owns one of these vehicles is stop driving it, and take it to the Toyota dealership because they believe they have the fix for it” and that “we’re not finished with Toyota.” Hood later toned down his remarks but immediately after his “stop driving” comment, Toyota’s stocks plummeted. Even after recovering some, …
Almost 30 years ago, a steep rise in oil prices drove consumers to buy smaller, more fuel-efficient cars. Cars that American auto manufacturers simply didn’t make. The resulting huge drop in sales drove Chrysler to the brink of bankruptcy, but before the market could play itself out, President Jimmy Carter came in “rescued” Chrysler with $1.2 billion in loan guarantees. At first glance it may appear that Chrysler was saved from bankruptcy. But a closer examination of the record shows that even with the loans, Chrysler went through a quasi-bankruptcy. …
