toyota

The Department of Transportation just sent out some updated figures on the vehicles being scrapped and purchased under the popular cash for clunkers program, which provides up to $4,500 in cash to drivers who trade their gas guzzlers for more efficient vehicles.
Of the $1 billion allocated under the program, $775 million is out the door, [...]

More bad news for Detroit: Toyota announced yesterday that it expects to lose $1.7 billion for the fiscal year ending March 31 — the first annual loss for the company in 70 years. From The New York Times:
Analysts said Toyota’s downward revision, its second in two months, showed that the worst financial crisis since the [...]

In a move that spells nothing but bad news for Detroit’s struggling automakers, Toyota announced yesterday that it’s suspended plans to produce its Prius hybrid in the United States.
Why is that bad news for the Big Three? Because there’s been this line of argument that Ford, General Motors and Chrysler would be performing splendidly right [...]