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Toyota to ramp up Tacoma production in Mexico by 41%

The Toyota Tacoma may be getting on in age, but that isn't stopping the Japanese manufacturer from ramping up production at the pickup's Baja California factory. The Mexican plant will soon be home to another 300 jobs as it increases total capacity by 41 percent. The increase is slated for April 2015.
The move is a curious one, considering the Tacoma's age and the fact that General Motors is preparing what, on the surface, appear to be two very competent challengers. The factory increase could be in preparation for the 2016 Taco (spy photos shown above), which is expected to represent a significant overhaul of the long-serving truck.
Toyota's decision to increase capacity could also be due to the factory building freeze implemented by President Akio Toyoda, according to Automotive News. Toyoda put a hold on new factories until 2016, asking executives to squeeze as much production as possible out of remaining factories before bringing any additional facilities online.

Toyota's $1.6B unintended acceleration settlement approved

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 struggling in Latin American market, attempting recovery

With uncertainty in the US and Chinese markets, automakers are scrambling to rev up their efforts in what were traditionally secondary markets. Take Toyota's efforts in Latin America. A recent story from The Wall Street Journal highlights the Japanese brand's push in the southern hemisphere, particularly in Brazil, where it has expanded its operations and installed new executives with a greater range of powers, all in a bid to grab a bigger slice of the ever-growing South American pie.
South America is dominated by General Motors, Fiat and Volkswagen, which maintain a combined 60 percent of the market share - Toyota holds a mere 4.5 percent. The WSJ spoke with Steve St. Angelo, Toyota's boss in Latin America, who said, "We are playing catch up, but we're catching up fast. We now have the resources to give the region the attention it really needs and deserves."
That attention includes an all-new, locally produced small car called the Etios. As bewildering as it seems, Toyota wasn't competing in the low-cost economy car market in South America. With the Etios, which arrived in September of 2012, its sales in the first seven months of 2013 are up 75 percent.