Dan Strumpf
Toyota to roll out 2 new Prius cars
The automaker will begin selling a hybrid station wagon starting next summer as either a 2011 or 2012 model
Toyota plans to roll out two new cars under the Prius name by next year, according to a dealer briefed on the plans, as the automaker seeks to turn its popular hybrid into a family of vehicles.
The Japanese automaker will begin selling a Prius station wagon starting next summer as either a 2011 or 2012 model, said Adam Lee, president of the Lee Auto Malls chain of dealerships in Maine. It will sell a plug-in version of the Prius that can get 30 miles on a charge starting later in the year, he said.
Toyota unveiled the new vehicles at its annual dealer meeting in Los Vegas this week. Lee was briefed on the new models by the manager of his Toyota dealership, who was in attendance.
Toyota spokesman Sam Butto declined to comment on any specific product plans,
“We will be coming out with some additional Prius products, but that’s really all I can say at this time,” Butto said.
Toyota has said in the past it hopes to expand the Prius name to a family of vehicles. The Prius is the best-selling hybrid in the U.S., but sales have been flat this year as the automaker continues to suffer from the fallout from huge recalls.
The automaker has recalled more than 10 million cars and trucks worldwide over the last year for a variety of problems, including a problem with the antilock braking system in its Prius hybrid and a Lexus hybrid. Toyota said this week it had fixed 86 percent of the hybrids recalled over the braking problem.
Also at the dealer meeting this week, Toyota President Akio Toyoda sought to reassure the company’s 1,200 U.S. dealers that the company is on track for sales growth in the U.S., Toyota said in a statement on Thursday. The company also told dealers of plans to make standard a free maintenance program that it first rolled out earlier this year.
U.S. auto sales rise thanks to credit and promotions
Auto loan approvals up for every level of consumer, despite sluggish economy
Most automakers posted higher U.S. sales last month, a sign that Americans are still willing to buy big-ticket items even though concerns linger about the economy and hiring.
After a sluggish June, sales rose slightly at Detroit automakers General Motors Co. and Chrysler. Foreign-based companies like Kia and Subaru posted bigger gains. Ford, meanwhile, had flat sales.
Sales were boosted by easier credit and new versions of cars and trucks ranging from Jeeps to large family wagons. Summer promotions also helped.
Continue Reading CloseTesla Motors outstrips expectations in first day of trading
The Palo Alto, Calif., company is the first car manufacturer to go public since Ford in 1956
Shares of Tesla Motors Inc. climbed in their trading debut after the electric car maker’s expanded initial public offering raised more money than expected.
Tesla’s performance was a feat in a sour market that has forced many companies looking to raise funds through IPOs to accept lower prices to get deals done.
The offering appealed to investors, raising $226.1 million after selling 13.3 million shares for $17 apiece. It had earlier expected to price 11.1 million shares at $14 to $16 per share.
Continue Reading CloseToyota to temporarily halt sales of Lexus GX 460
Consumer Reports issued a rare "Don't Buy" warning
In this undated product image from Toyota Motors Corp., the 2010 Lexus GX460 is shown. Consumer Reports said Tuesday, April 13, 2010, it has given the Lexus GX460 a rare "Don't Buy" warning, saying a problem that occurred during routine handling tests could lead the SUV to roll over in real-world driving.(AP Photo/Toyota Motors Corp.) ** NO SALES **(Credit: AP) Toyota Motor Corp. is temporarily halting sales of the 2010 Lexus GX 460 after Consumer Reports issued a rare “Don’t Buy” warning amid concerns the large SUV has handling problems that could cause it to roll over during sharp turns.
The Japanese automaker said Tuesday it had asked dealers to temporarily suspend sales of the SUV while it conducts its own tests on the GX 460.
“We are taking the situation with the GX 460 very seriously and are determined to identify and correct the issue Consumer Reports identified,” said Mark Templin, Lexus vice president and general manager.
Continue Reading CloseConsumer Reports calls Lexus GX 460 unsafe
Another blow for Toyota as the magazine gives the SUV a "Don't Buy" warning
FILE -- In a Nov. 23, 2009 file photo released by the Xinhua news agency, a model presents a Lexus GX460 car during the 7th China International Automobile Exhibition in Guangzhou, Guangdong province, China. Consumer Reports has given the Lexus GX460 a rare "Don't Buy" warning, saying a problem that occurred during routine handling tests could lead the SUV to roll over in real-world driving. (AP Photo/Xinhua, Chen Jianli/file) ** NO SALES **(Credit: AP) Consumer Reports has given the Lexus GX 460 SUV a rare “Don’t Buy” warning, saying a problem that occurred during routine handling tests could lead to a rollover accident in real-world driving.
In the latest blow to Toyota’s reputation, the magazine said that during a test of the vehicle’s performance during unusual turns, the rear of the vehicle slid until it was nearly sideways before the electronic stability control system kicked in.
Consumer Reports said in real-world driving, such a scenario could cause a rollover accident. As a result, the magazine has given the seven-seat SUV a “Don’t Buy: Safety Risk” label until the problem is fixed.
Continue Reading CloseFeb. US auto sales plow ahead despite snow, Toyota
American car makers are selling more in the last month
Automakers plowed through a snowy February to better-than-expected sales, and new incentives led by beleaguered Toyota will keep the momentum going into spring.
Despite some analysts’ predictions of single-digit gains, sales rose 13 percent over last February and all major automakers but Toyota Motor Corp. reported higher U.S. sales. Most took customers from the Japanese automaker, which has been struggling with a series of massive safety recalls. Toyota’s U.S. market share fell to 12.8 percent, its lowest level since July 2005, according to Ward’s AutoInfoBank.
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