Toyota’s $1.6B unintended acceleration settlement approved

Toyota’s $1.6B unintended acceleration settlement approved

July 21, 2013 by · Leave a Comment 

Filed under: Government/Legal , Safety , Toyota , Earnings/Financials Toyota is now one step closer to putting its unintended acceleration woes behind it as it has received approval from the US District Court for the Central District of California to settle loss-of-value claims to vehicles associated with the 2009-2010 recalls. As we reported back in May , the Toyota settlement is worth $1.63 billion, which, according to Bloomberg , includes a payout of $757 million to affected owners, $227 million to attorneys and an additional $875 million for vehicle upgrades. (We did the math, too, and that totals $1.859 billion, but there is no justification for the discrepancy. Fuzzy math, eh?) Based on the estimated 22.6 million vehicles said to be included in this suit, that would make the average payment about $33.49 per vehicle, but the article says that owners, lessees and even renters will receive varying amounts ranging from $9.74 up to as much as $10,000. This settlement does not affect suits filed for personal injury or wrongful death. Toyota’s $1.6B unintended acceleration settlement approved originally appeared on Autoblog on Sat, 20 Jul 2013 15:05:00 EST. Please see our terms for use of feeds . Permalink

Toyota Partners with EVSC to Improve Annual Collection of 14,000 Netbooks

May 10, 2013 by · Leave a Comment 

EVANSVILLE, Ind., May 10, 2013 – Janit Market is pleased she can continue teaching her English classes at Central High School with only a brief interruption when student netbooks are collected this year.

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