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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.

Toyota i-ROAD leans its way into the city [w/video]

According to Toyota, the "i-ROAD takes the company closer to its goal of creating the ultimate range of eco cars." As you're surely aware, that range of eco cars includes the enormously successful Prius family, but this new machine is nothing like the hybrid hatchback. And it's not even a car - Toyota calls the i-ROAD a Personal Mobility Vehicle.
Toyota's i-ROAD Concept, which debuts at this week's Geneva Motor Show, is adorned with just three wheels, meaning it's just as much a motorcycle as it is a car, and the driver and passenger sit in tandem style instead of side-by-side. This arrangement allows for a very thin 850mm width, which is about the same as a large motorcycle. Because the cockpit is enclosed, the occupants don't need helmets, nor are they open to the elements outside.
Also like a traditional two-wheeler, the i-ROAD tilts through the turns and when driving on uneven surfaces. Toyota says its computer-controlled Active Lean technology automatically balances the vehicle with no input from the driver.

Toyota sudden acceleration class action may cover 22 million owners

A total of 22.6 million current and former Toyota owners have been sent notices that they may be eligible to receive compensation from the automaker for damages related to the unintended acceleration fiasco that has dominated headlines in 2009 and 2010. The total payout may be as high as $1.63 billion, according to The Detroit News.
Steve Berman, a lawyer for the owners, calls the potential deal "a landmark, if not a record, settlement in automobile defects class action litigation in the United States." Still, there's some debate about whether or not Toyota's proposed settlement is fair, as it includes $30 million for safety research and driver education programs - in other words, Toyota seems to be suggesting that drivers need more education on how to drive their correctly working and fully functional vehicles. For those keeping track, Toyota would also be paying lawyer fees of $200 million.
A US District Judge in California is scheduled to hold a so-called "fairness hearing" on June 14 that could decide the fate of this particular settlement. Further courtroom wrangling will be required to hash out any wrongful death suits levied against Toyota stemming from unintended acceleration claims, as those are not part of this class-action suit.