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Toyota teases mysterious RND Concept

Toyota is being very secretive about its newly teased RND Concept. The image above is all that the Japanese automaker is showing at the moment, and it's not much to go by. However, the wait to find out won't be very long, as the automaker is unveiling this very mysterious vehicle on January 26 in the UK. Making the RND even more intriguing is that this isn't just a concept pointing the way towards some nebulous future vehicle. Toyota claims that the model is production ready, and the automaker already has pricing, supply and manufacturing space prepared. We likely shouldn't expect a super luxury sedan or sports coupe, though, because Toyota says that the RND is meant for "the widest possible market." Could it possibly be some sort of inexpensive, electric vehicle like the Renault Twizy, then? With just the hind of a taillight, a slash of chrome and what might be an intake, there's not much styling work to go on here. Although, Toyota is making huge promises about the design; it claims the RND "has the potential to transform the look of every vehicle on the road." It's odd to see an automaker other than Tesla reveal a new vehicle outside of a major world auto show, which piques our interest about what Toyota is doing here. Read the company's press release below and let us know what you think the Japanese automaker is up to in Comments. THE NEW TOYOTA RND CONCEPT: SNEAK PREVIEW First details of new model released ahead of world debut next week Toyota is breaking with motor industry convention by revealing a new product outside the familiar surroundings of an international motor show. Instead its new RND Concept will make its world debut in the UK on 26th January, ready for fast-track development that should see it changing the face of motoring within weeks. The first image released today hints at how the concept's design marks a radical shift in direction for Toyota, taking the "fun-to-drive" qualities of its cars to a higher level. Although presented as a concept, Toyota acknowledges the RND will be unveiled in its production-ready form. Manufacturing and product supply have been secured and on-the-road pricing has been fixed at a level that will make the RND Concept accessible to the widest possible market. Toyota is confident, too, that the RND Concept's impact will go far beyond its own model range, having the potential to transform the look of every vehicle on the road.

4 automakers agree to $553M settlement of Takata airbag claims

WASHINGTON (Reuters) - Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million vehicles with potentially defective Takata airbag inflators, according to court documents filed on Thursday. Toyota's share of the settlement costs is $278.5 million, followed by BMW at $131 million, Mazda at $76 million and Subaru at $68 million. According to a press release from Plaintiffs' Committee for Takata Airbag Product Liability Litigation, the funds for the settlement are aimed at getting more cars with faulty airbags fixed. At the time of writing, Toyota had the greatest recall completion percentage of 31.89 percent followed by Subaru with 31.37 percent. Mazda has completed repairs on 18.16 percent of affected cars, and BMW brings up the rear with 16.48 percent completion. Some settlement funds will go to an outreach campaign to increase awareness, while other funds will be used to reimburse people for any costs accrued to get their cars fixed. These costs can include rental cars, child care, lost wages, or any other reasonable costs associated with bringing in a vehicle for repairs. Furthermore, a customer support program will be funded with settlement money to handle any additional repairs or adjustments that could become necessary in the 75,000 miles following the airbag replacement. Lawsuits against Honda, Ford and Nissan have not been settled, lawyers said. Takata inflators, which can explode with excessive force and unleash metal shrapnel inside cars and trucks, are blamed for at least 16 deaths and more than 180 injuries worldwide. The safety defect has prompted recalls worldwide of about 100 million inflators by more than a dozen major automakers. Reporting by David Shepardson, additional details by Autoblog's Joel StocksdaleRelated Video: Government/Legal BMW Mazda Subaru Toyota

Trucks, SUVs — and Camry — shine in mixed U.S. January vehicle sales

DETROIT — Automakers posted mixed U.S. new vehicle sales data for January, with American consumers continuing to abandon passenger cars for the larger pickup trucks, SUVs and crossover models that manufacturers also love because they are far more profitable. Total industry auto sales for the month rose 1 percent versus January 2016. According to Autodata Corp, which tracks industry sales, the seasonally adjusted annualized rate (SAAR) of U.S. car and light truck sales in January fell to 17.12 million units from 17.44 million a year earlier. Analysts polled by Reuters had expected a January SAAR of 17.2 million units. U.S. auto industry sales fell 2 percent in 2017 to 17.23 million vehicles after hitting a record high in 2016 and are expected to drop further in 2018 despite a solid economy. Interest rates are rising and around 4 million late-model used cars will return to dealer lots this year to compete with more expensive new ones. Automakers have used consumer discounts to boost sales, a growing concern for observers who say this undermines resale values and profits. Discounts declined in January, but remained above 10 percent of manufacturers' recommended prices. ""I think the industry has accepted that (sales) volumes will fall somewhat in 2018 ... and I don't think the industry is going to go over the cliff with insane incentives," Mike Jackson, chief executive officer of AutoNation Inc, told Reuters after his company, the largest U.S. auto retail chain, posted a higher quarterly net profit. Mark Wakefield, head of the North American automotive practice for consultancy AlixPartners, had a gloomier perspective. The industry's less-than-stellar sales performance for January showed "we are now past the peak," he said. "Automakers are now selling the deal instead of the vehicle," he said. "That's a tough spot to be in because that treadmill is hard to get off once you're on it." General Motors January sales rose 1.3 percent, driven by a 16 percent rise in fleet sales. Sales to consumers fell 2.4 percent. GM posted strong gains for models such as the Silverado pickup truck and Equinox crossover model, while its passenger cars continued to struggle. Ford The Blue Oval posted a 6.6 percent sales decline for January, with retail sales down 4.3 percent. Sales of Ford's F-Series pickup trucks - America's best-selling vehicle brand for decades — rose 1.6 percent. Passenger cars were down more than 23 percent.