Auto Industry, Toyota | featured news

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.

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.

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.

Toyota Motor Corp said on Wednesday it is recalling more than 681,000 cars and trucks in the U.S. market to address potential problems.

After three years of settling for second place, General Motors reclaimed its title as the world’s largest automaker in 2011, a year when its sales grew in every region of the globe while Toyota sales were hampered by major natural disasters.

Toyota over the weekend broke ground for a technical center near Shanghai that will prepare for shifting production to China of tightly guarded technology used in its hybrids and other alternative-energy vehicles—but not its latest technology.

Ford's market analyst said U.S. auto sales are running at the strongest pace since April as vehicle inventories recover for Toyota and Honda.