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Toyota rolls out all-new HiLux pickup Down Under [UPDATE]

Never heard of the Toyota HiLux? That could be because it's not sold in America. But it's been around in other markets for 47 years now, over the course of which it has sold over 16 million units. Suffice it to say, then, that the HiLux is a vital product for the Japanese automaker, so the introduction of the new model you see here is a big deal on a global scale. The eighth-generation HiLux is the first all-new one in a decade, and benefits from some substantial improvements. It's touted as tougher and more capable than the ten-year-old model it replaces, but also safer and more comfortable. It boasts more interior space, a larger fuel tank and greater hauling capabilities. In the right spec, it'll tow more than 7,700 pounds and carry up to 2,700. There's a staggering array of configurations to choose from: 31 in all, resulting from two drivetrains, two transmissions, four engines, three cabin sizes and three levels of trim (in Australia at least - see update below). The top 4.0-liter V6 carries over and the 2.7-liter four has been upgraded for higher output and efficiency, but there are two new common-rail turbo-diesels on offer: a 2.4 with 164 horsepower and 295 pound-feet of torque, and a 2.8 with 174 hp and 332 lb-ft. They're mated to new six-speed manual and automaker transmissions, and buyers in the many markets where the HiLux contends will also be able to select a new Hi-Rider model that combines two-wheel drive with the ride height of the 4x4. The new HiLux is being introduced today in both Thailand and Australia, which are hardly random choices for the new model's debut. Though the truck is manufactured in six countries around the world, the Thai plant alone accounts for 70 percent of its production. And in Australia, the HiLux has not only been the top-selling commercial vehicle for the past 17 years running, but stands as the country's most popular vehicle of any kind – making it Oz's equivalent to our Ford F-150. UPDATE: While the HiLux is clearly a vital product for Toyota in the land Down Under, that's not the only place where it will be sold - and the details listed above will change from market to market. "Specs will differ across the globe, including engine availability," a spokesman for Toyota in Europe told Autoblog. The company's Australian PR rep confirmed that "Each region has its own unique requirements. Engine specs change based on emissions requirements for instance.

Toyota's Texas move could boost state's economy by $7.2B in 10 years

They say everything is bigger in Texas, and apparently that includes the Toyota's effect on the economy. The giant Japanese automaker's new headquarters in Plano, TX, will add an estimated $7.2 billion to the state over the next 10 years, according to a new study commissioned by the city and cited by Bloomberg.
The benefits appear to be an absolute steal compared to the direct incentives that Plano and the state are giving Toyota. The report finds that by the time the automaker's campus is complete in 2018, it could have 3,650 full-time workers there at an average salary of $104,000. The city has prepared $6.75 million in grants, plus property tax discounts, according to Bloomberg. In addition to that, the state is offering the business $40 million in incentives from its Texas Enterprise Fund. This is still a fraction of what Toyota is estimated to bring in.
Toyota announced in April that it would move its US operations to Plano after being headquartered in California since 1957. The move affects thousands of employees from the sales and engineering divisions. The first workers will arrive there this fall, but Toyota will eventually have a whole campus in Plano by late 2017. The move is expected to save it huge amounts in taxation and offer employees a lower cost of living. Toyota North America CEO Jim Lentz also says that the Texas location puts the headquarters closer to more of the business' factories in the south. Texas certainly appears to be showing it some southern hospitality.

Toyota reaches $1.2B unintended acceleration settlement in criminal probe

UPDATE: Just like that, Toyota has released an official statement confirming its $1.2-million dollar settlement with the US Attorney's Office. Our story has been updated to reflect this development and the automaker's official statement has been added below.
Toyota has reached a settlement over the criminal probe into its unintended acceleration problems, and the outcome is more expensive than first expected. The Japanese automaker has agreed to pay $1.2 billion to close the investigation among other settlement terms. The criminal inquiry focused on whether the company kept information from regulators and how it handled drivers' complaints about the problems, according to the sources.
Between 2009 and 2010, Toyota ended up recalling over 10 million vehicles worldwide over sudden acceleration fears. Fixes include modifying floor mats, gas pedals, and installing brake override software on affected models. In addition, Toyota made the latter standard on all of its new vehicles.