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5,000 Toyota Prius V models recalled due to airbag issue

Toyota has issued a recall of roughly 5,000 Prius V hybrids. All of the affected vehicles are from model years 2014 and 2015. The problem with the hybrid MPVs centers on its Occupant Classification System. According to the company, the OCS is responsible for activating and deactivating the passenger's side airbag, and in the affected models, the system may not have been calibrated correctly. Should a crash occur, the passenger front airbag may not deploy. The company reports there have been no injuries or fatalities related to the OCS faulty calibration. Owner will be notified and will, naturally, be asked to report in for a free recalibration. TOYOTA RECALLS CERTAIN 2014-2015 MODEL YEAR PRIUS V VEHICLES TORRANCE, Calif. – Toyota Motor Sales, U.S.A., Inc., today announced plans to conduct a safety recall of approximately 5,000 Model Year 2014-2015 Prius V vehicles. In the involved vehicles, the front passenger seat is equipped with an Occupant Classification System (OCS), which activates / deactivates the passenger seat air bag system depending on the weight of the seat occupant. There is a possibility that some OCS's may not have been calibrated properly during the vehicle manufacturing process. Under some conditions, this could result in no deployment of an airbag, increasing the risk of an injury to a front seat passenger in the event of crash. Toyota is not aware of any injuries or fatalities caused by this condition. Owners of the involved vehicles will receive a notification by first class mail. Toyota dealers will recalibrate the Occupant Classification System properly. Detailed information is available at www.toyota.com/recall and by calling Toyota Customer Service at 1-800-331-4331. ###

Toyota reports huge quarterly profit increase, raises forecast for the year

Toyota isn't just the world's largest automaker - so far its the biggest winner for quarterly profits. With an enormous $5.5 billion take during Q2, Toyota took advantage of the weak Japanese yen and strong US demand to record a 94-percent improvement in profit over the same period from last year. So far, Toyota brought in larger profits than Ford and General Motors combined.
Toyota is showing no signs of slowing down either, as it has bumped up its forecast for full-year global production, going from 9.94 million to 10.12 million vehicles, on the back of a 13-percent drop in the buying power of the Japanese yen versus the US dollar. That strong exchange rate is largely responsible for Toyota's big jump in profits, although it also managed to shift 1.3 million vehicles in the US market this year. Strong Camry sales have also helped. But while Toyota is raking in the cash, it actually saw a small drop in market share, down 0.1 percent to 14.3 percent of the US market.
As is the case with most automakers, Toyota seems flummoxed by Europe, where it recorded less than one percent of its revenue. Still, as Automotive News points out, Toyota only maintains a 4.5-percent market share in Europe and is far less dependent on the continent than other manufacturers. Toyota also struggled at home, much like Honda. With 525,777 units sold, JDM sales were down almost 51,000 units, although Toyota still saw its operating profit jump from $3.5 billion to $4.6 billion.

Sales incentive growth clustered around brands with few CUVs, trucks

While it's arguably been around the longest, the dominance of the four-door sedan has been under threat for many years. As a further sign of the hurtin' that SUVs and crossovers have put on today's four-doors, a new report from Automotive News points to the increasing use of incentives by brands reliant on cars and light on CUVs and pickups.
Honda, Toyota, Volkswagen and Kia have all been stung by double-digit increases in their incentives-to-transaction price ratio, according to AN, which cites data from TrueCar. Honda's ratio is up 14 percent, while Toyota, VW and Kia are up 18, 15 and 19 percent, respectively.
"Most of the incentive growth we have seen is in product segments with low demand - midsized or large sedans," TrueCar CEO John Krafcik told AN. "As this trend goes on, the brands with three-sedan strategies are going to be in worse shape on incentive spending than the crossover brands."