Toyota, Automaker | featured news

March is turning out to be the best month for auto sales in at least six years. Major automakers including Ford, Chrysler, Toyota, General Motors and Nissan all reported increases, with some reporting their best monthly totals since the start of the Great Recession in December of 2007.

Toyota Motor Corp. announced recalls of 1 million vehicles, including some models of its popular Toyota Corolla and its Lexus IS sports sedan.

Toyota has once again dethroned General Motors as the world's top-selling automaker. The Japanese company sold 9.7 million cars and trucks worldwide in 2012, although it's still counting. GM sold 9.29 million.

Toyota Motor Corp. has agreed to pay between $1.2 billion and $1.4 billion to settle a class-action lawsuit filed in 2010 over allegations of unintended acceleration in some of its vehicles.

In a remarkable turnaround, Toyota is likely to set a record for auto sales this year. It has focused much effort on the U.S., refreshing its lineup and expanding its manufacturing in the country.

Japan’s two largest automakers appear to be locked in a race to achieve the dubious distinction of having recalled more vehicles than any other automaker during 2012 for an array of safety-related problems.

Toyota has surged back from a downturn following the natural disasters in Japan last year and is expecting to sell 23 percent more vehicles than it did in 2011.

Toyota Motor Corp. said Wednesday it's recalling 778,000 RAV4 SUVs and Lexus HS 250h sedans in the U.S. to fix a suspension problem that could cause crashes. The company says if rear suspension nuts aren't tightened properly after a wheel alignment, the arms can rust and separate from the vehicle.

General Motors and Chrysler reported double-digit sales of new vehicles, while Ford’s rose 7 percent. Toyota sales were up 60 percent.

Toyota Motor Co. wrapped up one of the worst fiscal year’s in the company’s history with an unexpectedly strong final quarter in which it saw earnings more than quadruple.