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Toyoda says company is ‘grasping for salvation', fears big sales loss

Toyota Motor Corp. President Akio Toyoda said his money-losing automaker is “grasping for salvation” as it struggles to return to profit. The world's largest car company was once targeting annual sales of 10 million vehicles but now expects sales of 7.3 million this year, down from 8.97 million in 2008, Toyoda said today at a news conference.

Ghosn says Infiniti quality must improve to build sales

The boss says quality is key to Infiniti's future. After years with Infiniti at the back of the premium pack, Carlos Ghosn, CEO of Infiniti's parent, Nissan Motor Co., has ordered his team to nail quality once and for all as part of a push to catapult Infiniti into the top three brands of the premium market. Buoyed by a favorable dollar-yen rate and an ambitious new top executive, Infiniti might have its best chance yet to crack those ranks.

Chrysler unplugs Envi electric-vehicle division

Envi, the team of engineers charged with developing electric vehicles for Chrysler, has been disbanded. A spokesman told Reuters that development of electric cars will be integrated into the company's traditional structure. “Envi is absorbed into the normal vehicle-development program,” Chrysler spokesman Nick Cappa told the wire service.