July 14, 2010

Early Tests Pin Toyota Accidents on Drivers
The U.S. Department of Transportation has analyzed dozens of data recorders from Toyota vehicles involved in accidents blamed on sudden acceleration and found that the throttles were wide open and the brakes weren't engaged at the time of the crash. According to the Wall Street Journal, the early results suggest that some drivers who said their Toyotas and Lexuses surged out of control were mistakenly flooring the accelerator when they intended to jam on the brakes. The findings by the National Highway Traffic Safety Administration (NHTSA) involve a sample of the reports in which a driver of a Toyota vehicle said the brakes were depressed but failed to stop the car from accelerating and ultimately crashing. The findings appear to support Toyota's position that sudden-acceleration reports involving its vehicles weren't caused by electronic glitches in computer-controlled throttle systems, as some safety advocates and plaintiffs' attorneys have alleged. The data recorders analyzed by NHTSA were selected by the agency, not Toyota, based on complaints the drivers had filed with the government. Toyota hasn't been involved in interpreting the data. Click here for video coverage of NHTSA's findings. Click here to read more on NHTSA's investigation into Toyota's acceleration issues.

Stage Set for Final Votes on Wall Street Reform Bill
Senate Democrats on Tuesday appeared to nail down the votes needed to approve a historic overhaul of U.S. financial regulations and set up a final vote by the end of the week. According to Reuters, Senate Democratic Leader Harry Reid of Nevada scheduled a key vote for Thursday morning after Sen. Ben Nelson (D-Neb.), one of the chamber's most conservative Democrats, said he would support the bill, which would be the broadest rewrite of the Wall Street rulebook since the Great Depression. Nelson's support likely gives Democrats the 60 votes they need to clear an expected Republican procedural hurdle in the 100-seat chamber. If they succeed on Thursday, backers could hold a final vote by Saturday and send the bill to Obama to sign into law. The House of Representatives already has approved the measure and Democrats are eager to get it to the President's desk. The Dodd-Frank bill would impose tough new restrictions on the financial industry in an effort to avoid a repeat of the 2007-2009 financial crisis, which touched off a deep recession. The bill establishes new consumer protections and gives regulators the authority to seize and dismantle large, troubled financial firms. In late June, dealers successfully secured an exemption from the bill's new sweeping oversight. Click here for the latest from Reuters on the Senate's plans to vote on finance reform legislation.

Review: Speedy Lexus IS F Won't be a Sleeper for Long
The 2010 Lexus IS F remains a sleeper, writes Scott Burgess at The Detroit News. Not because it can't blow the doors off most sport sedans: It can. But it's a sleeper because it's still very early in its life, and no one associates Toyota Motor Corp.'s luxury brand with a true performance brand: They should. In fact, it's an absolute hoot to drive. Click here for a photo. The first performance Lexus, introduced in 2008, is surgical in its precision. Every detail feels exact and plush. For this model year, Lexus has even bumped up its offerings, including things like the first direct shift eight-speed automatic, a Torsen limited slip differential, and connectivity for the driver's iPod or other personal music device. The additions improve the car's capabilities and its user friendliness, which make them exactly the kinds of things you want to add. Burgess says his Matador Red test vehicle might as well have come with neon signs that screamed, "Pull me over, officer," as this car looks almost as fast as it goes. The IS F may be a sleeper right now. But eventually people will learn. They always do. Click here to read Burgess' entire review of the Lexus IS F.

Nissan-Renault Hires Former Toyota, Chrysler Boss Jim Press as Adviser
The Renault SA-Nissan Motor Co. alliance has hired Jim Press, former head of Toyota Motor Corp.'s U.S. unit, as a consultant for the group's global sales and marketing. According to Automotive News, Press, 63, who most recently was Chrysler Group's vice chairman and president, has worked for Renault-Nissan for about four months, said Simon Sproule, a spokesman for the alliance. "He's visited with our dealers in the States, Europe and Japan and has already begun providing substantial input," Sproule said by phone. Toyota in 2007 named Press to its board of directors, the first such appointment of a non-Japanese executive. He left the company later that year to join Chrysler after it was purchased by Cerberus Capital Management and departed last fall following Chrysler's emergence from bankruptcy under the control of Fiat S.p.A. According to TheCarConnection.com, this is a crucial move for Renault-Nissan, which in the past has been looking to form an alliance with several U.S. automakers. Press' in-depth knowledge of the U.S. market should help Renault-Nissan with any expansion plans it may have, including the possible re-launch of the Renault brand locally. Click here to read the full story on Renault-Nissan's decision to hire Jim Press.

Final Decisions Loom for Auto Dealers Facing Closure
All of the General Motors and Chrysler dealers threatened with closure as part of the companies' bankruptcy proceedings will soon know their fate. USA Today reports that federally appointed arbitrators are down to just 35 cases out of nearly 1,600 dealers who appealed orders to close, according to India Johnson, senior vice president of the American Arbitration Association, the dispute resolution service that handled the cases. Hearings are set to wrap up Wednesday, with final decisions due by the end of next week. Congress required the hearings after the automakers announced plans to shut 2,800 dealers last year. The companies said their U.S. sales didn't justify so many dealers - nearly 10,000 between them. By comparison, Toyota has only about 1,200, even though it's the second-largest automaker by U.S. sales. But many dealers protested that the businesses had been in their families for generations, and the market should determine whether dealerships are viable. Since the hearings began in February, a majority of cases have been resolved with settlements outside of arbitration, either because the automakers agreed to reinstate the dealers or the dealers dropped out of the process. Some dealers closed, while others started selling other brands. For more coverage of the wind-down of dealer arbitration hearings, click here.

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