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Toyoda testimony: As automaker grew, safety suffered

Toyota Motor Corp. president Akio Toyoda plans to tell lawmakers on Wednesday that the company regrettably chased growth at the expense of safety in recent years, and he will announce steps to improve Toyota's handling of customer complaints. Toyoda's written testimony to the House Oversight and Government Reform Committee says the automaker's priorities “became confused.” “We pursued growth over the speed at which we were able to develop our people and our organization,” Toyoda says.

Canada urged to adopt European car safety standards

CANADA has been urged to adopt European standards for new vehicle safety by the president of Mercedes-Benz Canada. Tim Reuss told reporters that if EU rules, which apply to all cars built by European industrial powerhouses like Mercedes and the Volkswagen Group, were in place Canada would already have new, more efficient, safer cars. At present Mercedes cannot import the A-Class because of the expense associated with modifying it to conform to Canadian safety requirements, and Mr Reuss argues that the current approach lacks common sense.

Hyundai to guarantee trade-in values

Starting May 1, Hyundai Motor Co. will guarantee the future trade-in value of its new vehicles. When a consumer buys a new vehicle from a Hyundai dealership, the company will guarantee what the trade-in value of that vehicle will be after the second full year of ownership through the fourth year.