No, that title’s not a misprint and you don’t have déjà vu. Japanese automaker Toyota Motor (NYSE:TM) is under fire again because of another recall, which this time impacts 1.7 million vehicles worldwide. The culprit this time is a fairly broad one – “defective parts” – including but not limited to leaky fuel systems.
In the U.S., the recall is expected to impact about a quarter-million Lexus vehicles. The majority of the impacted autos were sold in Japan. This latest recall brings the total number of Toyota vehicles recalled to more than 15 million globally since late 2009.
On the “plus” side, arguably, is the company’s transparency surrounding the latest defect. TM has been shouldered with fines of nearly $50 million due to its perceived hesitancy in reporting problems it discovers. As a result, the automaker has pledged to be more forthcoming with information. (more…)
Volkswagen may not be all “sexy” just yet, but the German car maker is making an impressive push. VW hopes to not only conquer America’s GM and Ford Motor (NYSE:F) (Ford has been gaining ground in 2010) but to surpass Toyota Motor (NYSE:TM) as the number-one selling vehicle in the world by 2018, according to 
The recall drama isn’t over for Toyota Motor (NYSE:TM), which last week announced the recall of 1.1 million 2008 Corolla and Matrix vehicles, citing engine control troubles. The potential flaw may result in stalling, which is ironic given that the automaker’s recent high-profile recall dealt with unwanted acceleration.
Shares of Tesla are expected to hit the public stock market today with a $244 million offering. Tesla will be the first American automaker to be listed on a major exchange since Ford Motor, which went public in 1956. But before you get all excited, be sure you do your homework. Keep in mind that Tesla has yet to turn a profit (since its 2003 inception) and is coming to market amidst some serious global economic headwinds, not to mention a very finicky car-buying public.
