Toyota’s safety crisis deepened yesterday as the embattled Japanese giant said it was considering a recall of its Corolla, the world’s best-selling car, because of possible steering problems. Toyota also announced that it would fit all new models with a system to cut engine power when the driver
Posts Tagged ‘best selling car’
Toyota considers recall of top-selling Corolla
February 18th, 2010 |
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Feb. 17, 1972: Beetle Outruns Model T
February 17th, 2010 |
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1972: Henry Ford finally gets beat. Volkswagen Beetle No. 15,007,034 rolls off the assembly line in Germany, surpassing Ford’s venerable Model T as the most highly produced car in history.
By the following year, total production was over 16 million. More than 21.5 million of the little cars would eventually be cranked out.
The Beetle got [...]
Mornin’ Crunch Crumbs: Toyota Recall; Conan Back In Buisness With NBC; Gerard Butler Scoops Scot Of The Year Honor; The Arnold Sending California Prisoners To Mexico?
January 27th, 2010 |
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Today’s Morning Links are brought to you by the Geriatric Stylings of The Green Brothers…
-Do you own a Toyota? Faulty gas pedals have prompted the automaker to suspend US sales of eight of its most popular models — including the Camry, the nation’s best-selling car…..
-Only days after former Tonight Show host Conan O’Brien and NBC [...]
Make or brake
January 27th, 2010 |
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Toyota suffers another blow to its already wavering reputation
IN A race that matched Formula One for its predictability, Toyota Motor Corporation slipped past General Motors just under two years ago to become the world’s biggest carmaker. But even as Toyota built up the revs, all has not been well. The latest setback came on Tuesday January 26th when the firm announced that it would halt production temporarily at six assembly plants in north America and suspend sales of eight of its most popular models, including the Camry, the best-selling car in the United States.
Toyota’s latest troubles in America had begun to surface a week before when it announced a huge recall of 2.3m vehicles to fix accelerator pedals that could jam open, sending cars racing forwards without warning. Toyota is mulling a similar move in Europe that could affect a further 2m cars. The firm’s decision to stop sales and production in America is a substantial blow for the stumbling car giant. The output of these plants accounted for some 60% of sales in 2009. The news put a banana skin under its share price. …
Ford profits from debt restructuring
July 23rd, 2009 |
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• Ford still has $21bn in the bank
• Carmaker aims to break even in 2011
• Firm may have benefited from fears over Chrysler and GM
The US carmaker Ford offered a chink of light in the gloom engulfing Detroit by delivering a quarterly profit of $2.26bn (£1.37bn), though the gain was entirely down to a one-off financial boost from a debt restructuring which offset losses on the sale of vehicles.
Ford’s market share of crucial US vehicle sales rose by two percentage points to 16.4% as its rivals, General Motors and Chrysler, struggled their way through bankruptcy. But the company still lost just over $1bn on its core business of selling cars and trucks.
The firm, the second-largest American carmaker after GM, is the only one of Detroit’s “Big Three” to have refused any state aid. Chief executive Alan Mulally, conceded that conditions remain tough. “While the business environment remained extremely challenging around the world, we made significant progress on our transformation plan,” he said.
Through a series of transactions to reduce debt by swapping loans for shares, Ford made an exceptional gain of $2.7bn. The company burnt through $1bn of cash in the second quarter, but still has $21bn in the bank and reiterated its goal of breaking even in 2011. Anecdotal evidence has suggested that some US motorists turned to Ford to avoid cash-strapped companies because of concern that warranties could be compromised at Chrysler and GM.
In Europe, Ford’s profits fell from $582m to $138m despite the popularity of a new version of the Fiesta, which has racked up sales of 300,000 since its introduction in the autumn making it Europe’s second-best-selling car. The Fiesta and the Focus are soon to be introduced to the US as Ford tries to satisfy demand among American motorists for smaller, more fuel-efficient vehicles.
Analysts believe Ford has sufficient firepower to maintain its standalone stance. In a recent research note, Eric Selle, a debt analyst at JP Morgan, said: “We believe Ford has the liquidity to make it to 2010, when its cash burn should improve.”
guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds
Ford profits from debt restructuring
July 23rd, 2009 |
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• Ford still has $21bn in the bank
• Carmaker aims to break even in 2011
• Firm may have benefited from fears over Chrysler and GM
The US carmaker Ford offered a chink of light in the gloom engulfing Detroit by delivering a quarterly profit of $2.26bn (£1.37bn), although the gain was entirely down to a one-off financial boost from a debt restructuring which offset losses on the sale of vehicles.
Ford’s market share of crucial US vehicle sales rose by two percentage points to 16.4% as its rivals, General Motors and Chrysler, struggled their way through bankruptcy. But the company still lost just over $1bn on its core business of selling cars and trucks.
The firm, which is the second largest US carmaker behind GM, is the only one of Detroit’s “Big Three” to have refused any state aid. Ford’s chief executive, Alan Mulally, conceded that conditions remain tough. “While the business environment remained extremely challenging around the world, we made significant progress on our transformation plan‚” he said.
Through a series of transactions to reduce debt by swapping loans for shares, Ford made an exceptional gain of $2.7bn. The company burnt through $1bn of cash in the second quarter but still has $21bn in the bank and it reiterated its goal of breaking even in 2011.
Anecdotal evidence has suggested that some US motorists turned to Ford to avoid cash-strapped companies because of concern that warranties could be compromised at Chrysler and GM.
In Europe, Ford’s profits fell from $582m to $138m, despite the popularity of a new version of the Fiesta, which has racked up sales of 300,000 since its introduction in the autumn, making it Europe’s second-best-selling car. The Fiesta and the Focus are soon to be introduced to the US as Ford tries to satisfy demand among American motorists for smaller, more fuel-efficient, vehicles.
Analysts believe Ford has sufficient firepower to maintain its standalone stance. In a recent research note, Eric Selle, a debt analyst at JP Morgan, said: “We believe Ford has the liquidity to make it to 2010, when its cash burn should improve.”
guardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds