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Toyota nearing $1B settlement of unintended acceleration criminal probe

According to those all-too-nebulous "people familiar with the matter," Toyota is close to a settlement with the US federal government to end a criminal probe over its long-running unintended acceleration fiasco. Though Toyota has never admitted guilt, the deal could reportedly crest a billion dollars and would likely include a criminal deferred prosecution agreement, and while we're not legal experts, The Wall Street Journal explains that such a deal would "[force Toyota] to accept responsibility while avoiding the potentially crippling consequences of federal criminal convictions."
The report from WSJ also suggests that Toyota is facing charges that it "made false or incomplete disclosures" to various government agencies regarding possible defects to its cars. Such charges may include mail and wire fraud violations. Toyota has already paid out fines totaling $66.2 million to the National Highway Traffic Safety Administration because it failed to report safety defects in a timely manner.
This deal with the federal government is not related to the billion-dollar class-action settlement reached with Toyota owners over falling vehicle values, and it's also different from the roughly 400 lawsuits still in courts alleging personal injury of wrongful death due to cases of unintended acceleration. In other words, don't expect to hear the end of such courtroom verdicts and settlements anytime soon...

2016 Toyota Tacoma shows its face ahead of Detroit debut

Here's your first full look at the 2016 Toyota Tacoma ahead of its debut at next week's Detroit Auto Show. No details have been released just yet, but at first blush, the revised Taco looks to be a much-needed step forward for the Japanese midsize pickup. We like the chiseled, modern face of the new Tacoma – it's pretty clean, not to mention rugged and handsome. The body sides almost look carried over from the current pickup (they very well could be), and around back, there's a new tailgate with badging stamped into the sheetmetal, as well as some fresh new taillamps. We can't yet see inside the Tacoma's cabin, though we expect it to have been thoroughly refreshed, as well – that's the place where the current truck really shows its age. As we said, Toyota hasn't released any other details, but the badging on this truck shows a V6 engine lies underhood. A four-cylinder option makes sense, as well – especially if the Tacoma wants to adequately compete with the recently launched (and well-liked) Chevrolet Colorado and GMC Canyon twins. We'll know soon if this Tacoma is a fully baked, all-new model, or if its just a thorough refresh on an existing (and old) truck. Stay tuned. Featured Gallery 2016 Toyota Tacoma Limited View 13 Photos Detroit Auto Show Toyota Truck 2015 Detroit Auto Show

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