2001 Toyota Tacoma Sr5 V6 Prerunner Automatic Excellent Condition on 2040-cars

Auto blog

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.

Toyota responds to video of Highlander ramming house [w/video]

There are, as they say, two sides to every story, so after we posted a video on Monday showing what an owner claimed to be a case of unintended acceleration causing her Toyota Highlander to crash into a house twice, Toyota reached out to us revealing some additional information about the incident.
Following this crash, which took place back in November, Toyota had this Highlander inspected and pulled data from its Event Data Recorder (EDR), or Black Box as we've come to call it. Not only was this the first time we've seen a claim of unintended acceleration like this caught on video, but now, also a first, we have actual data showing what the vehicle itself recorded during this frightening ordeal.
Brian Lyons, Toyota Communications Manager for Safety and Quality, first gave us some information about the Highlander in question, including the fact that it was a 2012 model. The 2012 Highlander came from the factory with a brake override system, meaning it was not part of the company's initiative in 2010 to add the system to all 2011 models. Also, after looking at the data from the EDR, he said - as many of you pointed out in the comments for the previous post - that the "brake pedal was never touched." In the video, you can see that the crossover's brake lights never come on, and the EDR's data backs this up.

Toyota raises Japanese base wages for first time since 2008

Toyota is on track for record profits, and in return, its Japanese workers are receiving their first increase in base wages since 2008, plus higher pay based on seniority and a larger bonus for 2014. The Japanese automaker predicts the average laborer will net a 2.9 percent income gain.
The average Toyota employee will earn 2,700 yen ($26.28) more each month, a 0.8 percent increase from last year. Workers will also receive about 7,300 yen ($71.09) more monthly based on seniority and promotions. Finally, the company's union pushed through a median bonus of 2.44 million yen ($23,768) for 2014, the highest in 6 years.
The pay boost comes as Toyota forecasts a record 1.9-trillion yen ($18.5 billion) profit for the fiscal year ending on March 31, according to Bloomberg. It has been helped by the Japanese government's efforts to weaken the yen on international markets and expand inflation. Prime Minister Shinzo Abe has been asking businesses to increase compensation to end years of deflation and offset upcoming higher sales taxes. Honda and Nissan have also raised their wages there in recent months.