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The ugly economics of green vehicles

It's fair to say that most consumers would prefer a green vehicle, one that has a lower impact on the environment and goes easy on costly fuel (in all senses of the term). The problem is that most people can't – or won't – pay the price premium or put up with the compromises today's green cars demand. We're not all "cashed-up greenies." In 2013, the average selling price of a new vehicle was $32,086. The truth is that most Americans can't afford a new car, green or not. In 2013, the average selling price of a new vehicle was $32,086. According to a recent Federal Reserve study, the median income for American families was $46,700 in 2013, a five-percent decline from $49,000 in 2010. While $32,000 for a car may not sound like a lot to some, it's about $630 a month financing for 48 months, assuming the buyer can come up with a $6,400 down payment. And that doesn't include gas, insurance, taxes, maintenance and all the rest. It's no wonder that a recent study showed that the average family could afford a new car in only one of 25 major US cities. AutoTrader conducted a recent survey of 1,900 millennials (those born between 1980 and 2000) about their new and used car buying habits. Isabelle Helms, AutoTrader's vice president of research, said millennials are "big on small" vehicles, which tend to be more affordable. Millennials also yearn for alternative-powered vehicles, but "they generally can't afford them." When it comes to the actual behavior of consumers, the operative word is "affordable," not "green." In 2012, US new car sales rose to 14.5 million. But according to Manheim Research, at 40.5 million units, used car sales were almost three times as great. While the days of the smoke-belching beater are mostly gone, it's a safe bet that the used cars are far less green in terms of gas mileage, emissions, new technology, etc., than new ones. Who Pays the Freight? Green cars, particularly alternative-fuel green cars, cost more than their conventional gas-powered siblings. A previous article discussed how escalating costs and limited utility drove me away from leasing a hydrogen fuel cell-powered Hyundai Tucson, which at $50,000, was nearly twice the cost of the equivalent gas-powered version. In Hyundai's defense, it's fair to ask who should pay the costs of developing and implementing new technology vehicles and the infrastructure to support them.

Nearly 700,000 Toyotas and Lexuses named in fuel pump recall

In an announcement posted to its corporate press room, Toyota made known a voluntary safety recall on select 2018 and 2019 Toyota and Lexus models. The recall includes roughly 696,000 vehicles and deals with a fuel pump that might stop working. An internal investigation into the issue is under way.  Affected rides include the Toyota 4Runner, Camry, Highlander, Land Cruiser, Sequoia, Sienna, Tacoma, Avalon, Corolla, and Tundra, as well as the Lexus LS 500, LC 500, RC 350, RC 300, GS 350, IS 300, ES 350, LX 570, GX 460, RX 350 NX 300, RX 350L, and GS 300. The Avalon, Corolla, NX 300, RX 350L, and GS 300 are restricted to 2019 model years, while the others are 2018 and 2019 model years. The potential danger in this issue is pretty obvious. Should the fuel pump stop, the vehicles could sputter, stall, and come to a stop, likely without the ability to restart the cars. Toyota notes warning lights and messages would display should this occur, but by then, it'd be too late. Although Toyota made the announcement this week, the investigation is not yet complete, and therefore, a fix has not yet been specified. The resolution, when determined, will come free of charge to affected customers. Toyota plans to send out notifications for affected vehicles in mid-March. 

Toyota's fuel pump recall now covers nearly 6 million vehicles globally

Toyota expanded a worldwide fuel pump recall to a total of 5.84 million vehicles for a defect that could cause the part to fail. In the United States, the total number of vehicles involved in this safety recall is now approximately 3.34 million vehicles. On January 13, 2020, Toyota announced a safety recall for 695,541 Lexus and Toyota models. In March of 2020, the Japanese automaker added an additional 1.1 million vehicles to the previous recall. Now, the largest Japanese automaker adds another 1.52 million U.S. vehicles to the recall that was first announced in January and covers numerous models built between July 2017 through September. Here is a full list of vehicles that are now included in the expanded recall: 2013-2015 Model Year Lexus LS 460; 2013-2015 Model Year Lexus GS 350; 2014 Model Year Toyota FJ Cruiser, Lexus IS-F; 2014-2015 Model Year Toyota 4Runner, Land Cruiser; Lexus GX 460, IS 350, LX 570; 2015 Model Year Lexus NX 200t, RC 350; 2017 Model Year Lexus IS 200t, RC 200t GS 200t; 2017-2019 Model Year Toyota Highlander; Lexus GS 350; 2017-2020 Model Year Toyota Sienna and Lexus RX 350 2018-2019 Model Year Toyota 4Runner, Land Cruiser; Lexus GS 300, GX 460, IS 300, IS 350, LS 500h, LX 570, NX 300, RC 300, RC 350; 2018-2020 Toyota Avalon, Camry, Corolla, Sequoia, Tacoma, Tundra; Lexus ES 350, LC 500, LC 500h, LS 500, RX 350L 2019 Model Year Toyota Corolla Hatchback and Lexus UX 200 2019-2020 Model Year Toyota RAV4 Toyota said the vehicles that have a fuel pump that may stop operating and could result in a vehicle stall, and the vehicle may be unable to be restarted. Dealers will replace the fuel pump with an improved version. Toyota's customer support is available to owners with affected vehicles by calling the Toyota Brand Experience Center at 1 800 331-4331. Related Video: Recalls Lexus Toyota Truck Coupe Crossover SUV Sedan