2007 Toyota 4wd 4dr Auto With Convenience Package on 2040-cars

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Toyota's $1.6B unintended acceleration settlement approved

Toyota is now one step closer to putting its unintended acceleration woes behind it as it has received approval from the US District Court for the Central District of California to settle loss-of-value claims to vehicles associated with the 2009-2010 recalls.
As we reported back in May, the Toyota settlement is worth $1.63 billion, which, according to Bloomberg, includes a payout of $757 million to affected owners, $227 million to attorneys and an additional $875 million for vehicle upgrades. (We did the math, too, and that totals $1.859 billion, but there is no justification for the discrepancy. Fuzzy math, eh?)
Based on the estimated 22.6 million vehicles said to be included in this suit, that would make the average payment about $33.49 per vehicle, but the article says that owners, lessees and even renters will receive varying amounts ranging from $9.74 up to as much as $10,000. This settlement does not affect suits filed for personal injury or wrongful death.

2016 Toyota Tacoma teased again

Toyota is following up its muddy teaser of the back of the 2016 Tacoma with a dusty new one that shows the truck's face for the first time. Without seeing more of the pickup, it's impossible to make any educated judgments, but the company appears to be taking the Taco's styling in a new direction. The 2016 Tacoma features a hexagonal grille outlined in chrome and a narrow intake underneath visually connecting the foglights. The headlights take on a squinting look, and this shot suggests LED running lights at the outer edge (perhaps just for top-level trims). You can also just make out a bit boxier of a flare for the front fender. The truckmaker hasn't announced anything about the Tacoma's powertrain, but we spied a prototype testing several months ago with a six-speed manual transmission. That one reportedly rode on a modified version of the current model's frame, as well. Toyota apparently has high hopes, though, because it's ramping up production at the Taco's factory in Mexico by 41 percent. The truck debuts at the 2015 Detroit Auto Show on January 12, and you can read Toyota's to-the-point press release about it below. See. The. Light. December 17, 2014 The lights come on and Tacoma rolls at the 2015 North American International Auto Show. The all-new 2016 beast hits the stage at 12:50 p.m. EST, Monday Jan. 12. And for those who can't wait for the dust to settle, we'll share a little more dirt later today. www.toyota.com/upcoming-vehicles/tacoma

Japan may aid carmakers facing U.S. tariff threat

TOKYO — Japan is considering giving carmakers fiscal support including tax breaks to offset the impact from trade frictions with the United States and a sales-tax hike planned for next year, government sources told Reuters on Wednesday. Going into a second round of trade talks with the United States on Sept. 21, Japan is hoping to avert steep tariffs on its car exports and fend off U.S. demands for a bilateral free trade agreement that could put it under pressure to open politically sensitive markets, like agriculture. "If the trade talks pile pressure on Japan's car exports, we would need to consider measures to support the auto industry," a ruling party official said on condition of anonymity because of sensitivity of the matter. The auto industry accounts for about 20 percent of Japan's overall output and around 60-70 percent of the country's trade surplus with the United States, making it vulnerable to U.S. action against Japanese exports. Japan's biggest automakers and components suppliers fear they could take a significant hit if Washington follows through on proposals to hike tariffs on autos and auto parts to 25 percent. Policymakers also worry that an increase in the sales tax from 8 percent to 10 percent planned for October 2019, could cause a slump in sales of big-ticket items such as cars and home. Prime Minister Shinzo Abe has twice postponed the tax hike after the last increase from 5 percent in 2014 dealt a blow to private consumption, which accounts for about 60 percent of the economy. To prevent a pullback in demand after the tax hike, the government may consider large fiscal spending later when it draws up its budget for next year, government sources said. "One option may be to greatly reduce or abolish the automobile purchase tax," one of the government sources said. The government is also considering cuts in the automobile tax and automobile weight tax to help car buyers, the source added. Reporting by Izumi Nakagawa and Tetsushi KajimotoRelated Video: Image Credit: Getty Government/Legal Isuzu Mazda Mitsubishi Nissan Subaru Suzuki Toyota Trump Trump tariffs trade