Toyota Sienna boy band, Boyota from Jennifer Vuong on Vimeo.

Standard & Poors Equity Research [via BNET] says you shouldn’t dump that Toyota stock just yet.

Will the aggressive action of cutting production and recalling so many vehicles scare away potential Toyota buyers, or will consumers think the abundantly cautious response shows a commitment to customer care and quality? We think it is too early to tell, but we believe resilience and global growth of vehicle demand will help TM (Toyota Motors)

You know, until mechanics actually start finding malignant hellspawn demons within Toyota electronic throttle control units. In which case you should invest heavily in law firms. Meanwhile, Toyota is apparently hiring shamans to cleanse their new product of metaphysical infestation by way of bizarre voodoo ceremonies like the one shown above [Hat Tip: Vanity Fair Gay Cars blog].

Spyker has set the goal of turning a profit with its newly-purchased Saab division by 2012, reports Automotive News [sub]. That effort will be led by a total of three Saab products: the existing 9-3 (with a new version rumored for 2011), the forthcoming 9-5 sedan and, later next year, the GM-built Saab 9-4X Crossover. Other models, including a 9-1 compact are being hinted at, but Spyker acknowledges that such a product would require about a billion dollars more than Saab-Spyker currently has access to. Meanwhile, those three vehicles will have to generate 100k-125k annual sales in order to keep the business plan rolling along. Saab-Spyker honcho Victor Muller has an almost shockingly confident take on this possibility, telling Reuters:

It’s all about the restoration of the confidence in the company. Customers have been very reluctant to buy because of the uncertainty surrounding the brand… Saab has to do nothing but regain its existing and old customers because that in itself would be in enough to create a very strong business model..

Saab sold a total of 8,680 vehicles in the US over the course of 2009. Globally, the firm sold 39,903 units last year, down from 94,751 in 2008. Perhaps the challenge is a bit more difficult than Muller lets on.

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What can I say, I’m a child. Then again, this 100hp, Renault Twingo-based Wind coupe-convertible is one silly toy. With an 11-second 0-60 time from its 1.2 liter engine, there’s some question of whether the Wind could even outrun a fart. But hey, at least you’ll look cool trying, in an adorable, non-threatening, French kind of way.

Opel is running out of time and out of money. In the second quarter of 2010, the company will be out of cash again, figures the German Handelsblatt. As indicated yesterday, discussions with the unions are going nowhere. Says the Handelsblatt:”Management is preparing for a breakdown of the talks.” Reilly and his crew are trying to find ways how to get Opel going without wage concessions by the unions. But how? Read More >

One of the lingering concerns over the Toyota recall is whether Toyota’s “precision steel” shim fix to the recalled CTS gas pedal assembly will be a reliable long-term solution. Our analysis indicates that these questions might be well-founded, and we’re not the only ones concerned about the viability of Toyota’s proposed fix. In an interview with Toyota’s Jim Lentz yesterday evening, NPR asked why Toyota was using a redesigned pedal for new production, but only offering the shim fix to existing customers. Lentz insisted that the repaired pedals would be as good as the redesigned pedal, that the costs of repair and replacement were about the same, and that the main reason Toyota was repairing rather than replacing recalled pedals was the desire to “get customers back on the road… as quickly as we possibly can.” That’s when NPR went for the jugular.

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Today, Toyota gave a press conference in Nagoya, the first at Toyota’s home base to address the recall. Akio Toyoda was AWOL as usual. Instead, Toyota’s Vice President Shinichi Sasaki, who is also in charge of quality assurance, did the dubious honors. He did what he had to do: He apologized profusely.

“I’d like to offer an apology for causing anxiety among our customers around the world,” Sasaki said, according to the Nikkei [sub]

Sasaki said Toyota aggravated the situation by disclosing the problem before firming up countermeasures. By doing so, “we ended up creating mistrust in the market,” he said. “We prioritized customer safety, focusing on releasing solid information first.”

In a rather un-Japanese move, he passed a tiny bit of the blame: Read More >

IP squad, to the front! SinoCast, relying on information from a “top executive of Geely Automobile Holdings Ltd.” says that Geely will buy 100 percent of Volvo, “including the ownership of existing technologies in the fields of safety and environmental protection, as well as technologies of new car models.”

Before, it was reported that Ford could hold back some sensitive technology, namely new environmental and safety gear. Nothing doing, says Geely. Also, Geely seeks to get their hands on advanced hybrid and electric car technologies jointly developed by Volvo and Vattenfall. Read More >

According to a PR Newswire release, a class action suit has been filed against Toyota and supplier CTS, alleging “inherent design defects,” specifically a “lack of failsafes” in Toyota’s ETCS-i (Electronic Throttle Control System-intelligent), in use since 2001. As in not the pedal assembly. A similar suit was filed in the US last November. Today, Toyota’s Jim Lentz was emphatic that electronics were not the issue with the ongoing recall, but shortly after the US suit was filed, Toyota quietly announced that an electronic brake override system would be installed on certain vehicles with automatic transmissions. Is that as good as an admission of guilt? You can bet the lawyers are already saying so. The full release is available after the jump.

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Opel’s turnaround negotiations with German unions have gone pear-shaped again, as top labour rep Klaus Franz left talks denouncing GM’s decision to cut 9972 jobs instead of the promised 8300, according to The Wall Street Journal. “Fundamental questions have not been answered,” fretted Franz. “Management’s plans seem to change on a daily basis.” Rudi Kennes, a labour representative from Antwerp, concurred, saying the atmosphere between management and the unions “has never been as bad as now.” He added ominously that “(Mr Reilly) needs to answer our questions.”
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Matt Lauer turns the screws on Toyota’s Jim Lentz, who responds to conspiracy claims by saying that his family, friends and neighbors drive Toyotas. “I would not have them in products that I knew were not safe,” he says, although he does acknowledge that rapid growth could have played a role in a general decline in quality.

Say what? GM has no problem kicking Toyota when its down, offering conquest cash to craven Toyota owners who might be tempted to flee the brand in the midst of recall mania, but its own handling of the situation deserves some analysis. After all, GM confirms that its Pontiac Vibe is assembled at the GM-Toyota NUMMI joint venture using the CTS-sourced pedal assembly that allegedly causes unintended acceleration. And yet The General went on the record last Friday [via Automotive News [sub]] essentially claiming that its Toyota Matrix rebadge was magically safe from the dread terrors afflicting its Toyota-badged cousin. Now GM has revised its statement on the Vibe, admitting that since the Toyota recall, it has received several complaints about sticking accelerators on Vibes (although no related wrecks have been reported). Better late than never… unless you’re making the pitch that consumers should choose you over Toyota because you will take better care of them. [UPDATE: GM reports that the Vibe’s brakes can stop the vehicle. Go figure]

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Update: A portal to all of TTAC’s related articles on Toyota gas pedals is here:

Toyota has released their official “fix” for the sticky CTS-made gas pedals on the recalled models affected. From their graphic, it’s difficult to understand what parts are involved, and how they work. Thanks to our recent tear-down of the CTS pedal, we have the pictures and familiarity with the unit to explain it in detail. Read More >

Having re-birthed themselves at the taxpayers’ expense, one of Chrysler’s top priorities is restoring the brand equity that has bled out since the Daimler takeover.  First up was the move to spin “Ram” off as its own brand, and now it seems that no-one is safe from “re-birth,” as UPI.com reports that Chrysler are rethinking their strongest brand, Jeep. Unfortunately, one man’s brand rebirth is another man’s brand betrayal. Chrysler want to replace all of Jeep’s products, except for the Wrangler and Grand Cherokee, and the idea is to utilise Fiat’s experience of fuel efficient engines as the basis for it. That means Jeep is likely to become smaller, more fuel-efficient and less off-road capable [rumors of a Fiat Panda 4×4-based Jeep (rendered above) date back to the earliest days of the Fiat-Chrysler alliance]. If you had to boil the proposed shift into a single word, UPI figures it would be “soft.” And the markets have reacted to this news in pretty much the same way you’ve probably just reacted: they think the idea is bad. Very bad.

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The Highway Loss Data Institute, an affiliate of the Insurance Institutes For Highway Safety, reports that an audit of insurance claim filings shows no reduction in claim amounts in states with bans on cell phone use in cars. According to the report:

HLDI researchers calculated monthly collision claims per 100 insured vehicle years (a vehicle year is 1 car insured for 1 year, 2 insured for 6 months each, etc.) for vehicles up to 3 years old during the months immediately before and after hand-held phone use was banned while driving in New York (Nov. 2001), the District of Columbia (July 2004), Connecticut (Oct. 2005), and California (July 2008). Comparable data were collected for nearby jurisdictions without such bans. This method controlled for possible changes in collision claim rates unrelated to the bans — changes in the number of miles driven due to the economy, seasonal changes in driving patterns, etc.

Month-to-month fluctuations in rates of collision claims in jurisdictions with bans didn’t change from before to after the laws were enacted. Nor did the patterns change in comparison with trends in jurisdictions that didn’t have such laws.

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Dave writes:

The bottom of the steering wheel in my A6 is starting to fade and crack a bit. I was hoping you could give me the definitive answer on what to use to clean and protect a leather steering wheel, as I would like to keep the damage from getting any worse. I’ve searched a number of forums, and every suggestion has been immediately followed by “never use that on your steering wheel!” so I’m unsure what to do.

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