Toyota Motor Corp's president braced for tough questions from a congressional panel on Wednesday after the Japanese automaker conceded it had let safety standards slip and could still not explain most incidents of unintended acceleration.
South Korea's Hyundai Motor has stopped U.S. sales of its 2011 Sonata sedan due to door lock issues, sending its shares down more than 4 percent on concerns it could become snared in a damaging recall crisis like Japanese rival Toyota Motor Corp.
The head of Toyota Motor Corp blamed the company's drive for rapid growth for slipping safety standards and said he was deeply sorry for accidents caused by problems with Toyota vehicles.
Toyota Motor Co. has not ruled out an electronic malfunction as a cause of unintended acceleration in its vehicles which has led to a major global recall.
Toyota U.S. sales chief James Lentz said on Tuesday members of his family drive Toyota's cars and would continue to do so amid recalls that have tarnished the car maker's reputation.
Toyota Motor Corp apologized for letting safety standards slip during a period of fast growth and vowed to respond more quickly to consumer complaints as two days of congressional hearings crucial to the automaker's reputation began on Tuesday.
AutoNation Inc Chief Executive Mike Jackson said that Toyota Motor Corp's U.S. sales will recover by April, but only if the automaker offers customer incentives.
Toyota Motor Corp promised a quality shake-up and apologized for safety mistakes that it blamed on rapid growth.
Consumers Union issued a call on Tuesday for urgent changes to strengthen U.S. auto safety regulation in the wake of a massive recall by Toyota Motor Corp.
Top executives at Toyota Motor Corp promised a quality shake-up on Tuesday as the Obama administration said it would hold the carmaker's chief to a pledge to address safety issues after massive recalls.
The House Oversight Committee has released the opening statement for the committee's Wednesday's hearing that features Toyota President and CEO Ako Toyoda. The follow is the full text:
Lawmakers delivered opening statements today during a hearing investigating Toyota's and the government regulators' response to complaints of unintended acceleration in the company's vehicles.
Full text of James Lentz, President and Chief Operating Officer, Toyota Motor Sales, U.S.A., Inc., to Committee on Energy and Commerce
A top Toyota Motor Corp U.S. executive promised a quality shake-up on Tuesday as the Obama administration said it would hold the carmaker's chief to a pledge to address safety issues after massive recalls.
Toyota misled the public about the adequacy of auto recalls to address unintended acceleration in its vehicles, the lawmakers said Monday.
A top Toyota Motor Corp U.S. executive promised a quality shake-up on Tuesday as the Obama administration said it would hold the carmaker's head to a pledge to address safety issues after massive recalls.
Toyota Motor Corp's woes deepened ahead of its testimony to Congress as it revealed it faces a U.S. criminal probe into the handling of its massive safety recalls, while Japan voiced concern over the economic impact of the automakers' problems.
Toyota Motor Corp's woes deepened ahead of its testimony to Congress as it revealed it faces a U.S. criminal probe into the handling of its massive safety recalls, while Japan voiced concern over the economic impact of the automakers' problems.
The Obama administration will hold Toyota President Akio Toyoda to his word that the carmaker is working hard to address all safety issues, U.S. Transportation Secretary Ray LaHood said on Tuesday.
Toyota Motor Corp, struggling with a fast-moving crisis that has tarnished its reputation for quality, is set to face U.S. lawmakers this week seeking answers about the cause of the largest carmaker's safety woes and how it handled evidence of the problems.
Toyota Motor Corp's woes deepened ahead of its testimony to Congress as it revealed it faces a U.S. criminal probe into the handling of its massive safety recalls, while Japan voiced concern over the economic impact of the automakers' problems.
Documents reviewed by Congress appear to show that Toyota Motor Corp consistently dismissed the possibility that electronic failures could be responsible for incidents of unintended acceleration.
