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Toyota and Lexus recalling 235,000 hybrid CUVs and sedans over separate issues

When it rains, it pours. Toyota has announced a pair of separate but voluntary North America recalls covering approximately 235,000 vehicles built between 2006 and 2011. The larger of the two recalls targets Toyota's hybridized crossovers, the Lexus RX400h and Toyota Highlander Hybrid. 133,000 units, including 2006-2010 Highlander and 2006-2008 RX crossovers are covered in the campaign. The other recall affects 102,000 IS350 sedans, IS350C convertibles and GS350 sedans built between 2006 and 2011.
With the CUVs, the faults in the parallel circuits of the transistors can cause heat damage in the inverter assembly, triggering an abundance of warning lamps and sending the vehicle into limp mode. The Lexus sedans are being recalled due to loose bolts on the variable valve timing controller. Detected by unusual underhood sounds on startup, the issue can cause the engine to stop while driving. The inverter issue is also triggering similar recalls in Japan and Europe.
At the moment, it's unclear if any of these issues have caused any crashes or injuries. Toyota says it plans to notify owners of the recall via snail mail. Additional information for owners can be found on the recall sites for Toyota and Lexus or by calling Toyota's customer service line, at 1-800-331-4331. Scroll down for the complete recall notice from Toyota.

Auto execs surveyed say VW, BMW most likely to grow

A new survey of top global automotive executives indicates both Volkswagen and BMW are the most likely to grow their market share over the next five years.
Tax advisory firm KPMG LLP has released its 14th annual Global Automotive Executive Survey, which includes responses from over 200 executives. A total of 81 percent of respondents said they expect to see Volkswagen make gains, compared to 70 percent last year. BMW, meanwhile, saw 70 percent of those surveyed say they believe the company will increase its market share. That's a jump of 7 percentage points over last year. This is the first time in the history of the survey that BMW has claimed the second-place spot.
Meanwhile, Hyundai has seen its perceived market share potential slacken for the third year in a row. Around 61 percent of those surveyed predicted gains for Hyundai, down from 63 in 2012. Toyota also has a surprising year, but for just the opposite reason. While the manufacturer had slipped in ranking since 2011, it enjoyed the largest increase of any company in the 2013 survey, jumping to 68 percent from 44 percent last year.

Toyota Matrix discontinued for 2014

Between its slow sales and the upcoming redesign of the closely related Corolla sedan, things haven't been looking good for the Toyota Matrix (for some time now). After 10 years on the market, Toyota has officially announced that it will drop the Matrix from its US lineup following the 2013 model year.
The announcement was made as a part of a press release breaking down what's new for Toyota in 2014, but for now, it doesn't look like any Toyota-branded product will fill the Matrix's spot. The Matrix and its sister car, the defunct Pontiac Vibe, were the final vehicles developed under the joint venture between Toyota and General Motors, an arrangement launched back to 1984.