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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.

Incrementally better than ever | 2017 Toyota 86 First Drive

We'd love to tell you that the incremental upgrades bestowed upon Toyota's rear-wheel-drive coupe as it made its transition from Scion FR-S to Toyota 86 have transformed it into a perfect sportscar. If only a few more horsepower, shorter rear-end gearing, and tiny aero updates were enough to quell all the complaints that enthusiasts have leveled at the machine since the platform first hit the road in 2012, this review would have been so much more satisfying to write. Sadly, that's not the case. Don't get us wrong. The 86 is still extremely fun to toss around a twisty road. The chassis is impressively balanced, the steering is direct, and the shifter is sweet. Sorry to impart upon you this well-worn trope, but the old adage that it's more fun to drive a slow car fast than it is to drive a fast car slow is, in this case, completely accurate. The 2017 Toyota 86 is nothing if not entertaining. But it's not completely new. It hasn't been transformed. It is, in the end, the same as it ever was. It will take about three minutes of your time to watch the videos below, in which we cover pretty much everything that's new for the 2017 Toyota 86. Toyota 86s equipped with manual transmissions get a five-pony boost to 205 horsepower and 156 pound-feet of torque. Automatic models soldier forth with a carryover 2.0-liter four-cylinder that puts out 200 hp and 151 lb-ft. Apparently, more than half of Scion FR-S buyers chose the automatic. That's unfortunate, as it drains a good deal of the fun out of the 86 experience. Choose the manual and you'll be rewarded with an easy clutch and a rewarding short-throw shifter. And, as we said, five more ponies, courtesy of intake and exhaust tweaks and the polishing of some internal engine components. The only upside to the automatic is improved fuel economy of 24 miles per gallon in the city and 32 on the highway. Manual 86s are EPA-rated at 21/28. Along with the small bump in power, the 2017 86 gets a 4.3:1 rear-end gear ratio in lieu of the old 4.1:1 unit. That ought to translate into a small improvement in acceleration that really only matters on paper. In the real world, on actual roads, the difference is negligible. To eke the most out of the 86, you have to constantly work the shifter and keep the engine north of 5,000 rpm. It's still not particularly quick, but it's definitely fun. There's plenty of noise inside the 86, from the wind, the road, and the engine.

Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.