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Automotive slide 1

New Class The New Class (German: Neue Klasse) was a line of compact sedans and coupes starting with the 1962 1500 and continuing through the last 2002s in 1977.

Automotive slide 2

Finally, Speed Matches Style By Nate Martinez In the decade or so it's been on the market, the Audi TT has become world renowned for its avant garde style, but it's never ranked high as a true sports car.

Automotive slide 3

Silverline Chevrolet Cruze will be factory backed in the 2010 BTCC. This year, the BTCC is going to be hotting up, with the Chevrolet Cruze coming in as a manufacturer backed team!

Automotive slide 4

Mazda Engine SpecificationsE5 TURBO Type 1490cc EFI OHC 8-valve 4-cyl Power 86kW @ 5800rpm Torque 162Nm @ 3500rpm Gearboxes FWD 5sp Source 83-84 Familia XGR turbo (fits earlier Laser and 323) B6 Type 1597cc EFI DOHC 16-valve 4-cycle

Automotive slide 5

The ‘Ice Speed Record’ model doesn’t fail to impress with its interior features as well: a carbon fiber with red weave high-gloss finishing and the most exquisite leather and Alcantara cabin components. The Supersports Continental Convertible ISR, which comes in three colors, has an estimated priced of £189,300 ($ 309,022 USD) and available at authorized Bentley automobile dealerships.

Selasa, 08 September 2009

2010 Honda Hybrid Civic

The 2010 Honda Civic Hybrid is very similar to the 2009 model, which is in line with the rest of the 2010 Civic models.

The Civic Hybrid is classified as an Advanced Technology Partial Zero Emissions Vehicles (AT-PZEV) by the California Air Resources Board (CARB). The 1.3 liter i-VTEC engine comes with Integrated Motor Assist (IMA) hybrid technology. The engine comes standard with continuously variable transmission (CVT) which achieves 40/45 mpg.

The four cylinders can be deactivated, allowing for short periods of all electric movement in low speed situations. The 15 kW electric motor and more conventional four cylinders can be combined for 110-horsepower @ 6000 rpm and combined 123 lb-ft. of torque @ 1000-2500 rpm.

For safety, the Civic Hybrid includes Vehicle Stability Assist™ (VSA®), commonly referred to as electronic stability control.

The hybrid also (optional) comes with a satellite linked nav system which opens and closes for access to the internal CD player and digital audio-card reader. The optional leather wrapped steering wheel, shift knob accent the leather-trimmed interior. And don't forget the heated side mirrors.

Civic Hybrid models are produced and assembled in the Honda Motor Co., Ltd., Suzuka, Japan, manufacturing facility.

Press Release from Honda follows:

The 2010 Honda Civic lineup has its bases covered with technologically advanced Civic Sedan and Coupe models, a Civic Hybrid, a high-performance Civic Si and a dedicated natural gas-powered Civic GX. All Civics were recently enhanced inside and out for the 2009 model year with new exterior styling, colors and increased availability of tech-friendly features. For 2010, the entire range of Civics remains largely unchanged.

The 2010 Honda Civic lineup has its bases covered with technologically advanced Civic Sedan and Coupe models, a Civic Hybrid, a high-performance Civic Si and a dedicated natural gas-powered Civic GX. All Civics were recently enhanced inside and out for the 2009 model year with new exterior styling, colors and increased availability of tech-friendly features. For 2010, the entire range of Civics remains largely unchanged.

Enhancements carried over from 2009 include recently refreshed exterior and interior styling features comprised of updated headlight and taillight combinations; new alloy wheel designs for Civic EX, Civic EX-L and Civic Si; and updated seating cloth materials for a more premium interior feel.

“The Honda Civic meets the needs of a diverse audience with economical and fun-to-drive performance in a wide variety of choices and styles,” said Vicki Poponi, assistant vice president of product planning for American Honda Motor Co., Inc. “The Civic’s reputation for durability, quality and reliability helps it stand apart from the crowd.”

Built on a high-rigidity unit-body platform, the Civic is designed to deliver precise, sharp and refined handling performance with its MacPherson strut front suspension and multi-link rear suspension.

Four engine and four transmission choices range from a 140-horsepower, 1.8-liter i-VTEC engine (Civic DX, DX-VP, LX, EX and EX-L), with either a 5-speed manual or an available 5-speed automatic transmission, to a 197-horsepower, 2.0-liter i-VTEC engine (Civic Si) with a 6-speed manual transmission. The Civic Hybrid is powered by a 1.3-liter i-VTEC engine with Integrated Motor Assist (IMA) gasoline-electric hybrid technology to enhance both fuel economy and performance, and is equipped with a continuously variable transmission.

The Civic GX is powered by a dedicated natural gas version of the Civic’s 1.8-liter i-VTEC engine – and is equipped with a 5-speed automatic transmission. Both Civic Hybrid and Civic GX are classified as Advanced Technology Partial Zero Emissions Vehicles (AT-PZEV) by the California Air Resources Board (CARB). The Civic GX is classified by the EPA as an Inherently Low Emissions Vehicle (ILEV).

The entire line-up maintains a standard array of safety technologies including Advanced Compatibility Engineering™ (ACE™) body structure; side curtain airbags; driver’s and front passenger’s side airbags with a passenger-side Occupant Position Detection System (OPDS); and dual-stage, dual-threshold driver’s and front passenger’s airbags (SRS). Active front seat head restraints are designed to help reduce the likelihood of neck injury in the event of a rear collision.

Standard active safety features include an anti-lock brake system (ABS) and electronic brake distribution, front seatbelts with an automatic tensioning system, and a pedestrian injury mitigation design incorporated into the front exterior of the vehicle. Driver and front passenger seatbelt reminders and daytime running lights are also standard equipment. The Civic EX-L, Civic Si and Civic Hybrid include Vehicle Stability Assist™ (VSA®), commonly referred to as electronic stability control, as standard safety content.

The Honda Satellite-Linked Navigation System, available on Civic EX, EX-L, Si and Hybrid models, has a 6.5-inch motorized display that opens and closes for access to the internal single-disc CD player, and a digital audio-card reader that can play MP3 and Windows Media® Audio (WMA) files from CompactFlash® cards (via a PC card adapter).

The navigation system features more than 7 million points of interest and the voice activation can control the navigation menus and the audio system, along with entering city and street names. The system includes Bluetooth® HandsFreeLink®, a wireless telephone interface that works with compatible Bluetooth-enabled mobile telephones for hands-free operation via steering wheel-mounted controls.

Auxiliary audio input jacks are standard equipment on Civic DX-VP and above trim levels, allowing for portable music device playback through the audio system. The Civic LX Coupe has a six-speaker 160-watt audio system with a CD player (four speakers for the DX-VP and LX sedan). All audio systems are capable of playing MP3- and WMA-formatted CDs. Standard Speed-sensitive Volume Control (SVC) automatically adjusts the volume based on vehicle speed. Audio displays include CD/MP3 text readout, and all coupes (except for the DX) plus the Civic Si Sedan provide a customizable welcome screen (exclusively on models without the available navigation system).

Civic Sedan and Civic Coupe with 1.8-liter i-VTEC 4-cylinder engine
The Civic lineup for both the Sedan and Coupe start with the value-rich Civic DX model equipped with a standard 140-horsepower, 1.8-liter, SOHC i-VTEC 4-cylinder engine, 5-speed manual transmission (5-speed automatic available), power windows, 15-inch steel wheels with covers and P195/65R15 tires, and a folding rear seat. The Civic DX-VP Sedan adds air conditioning, a four-speaker 160-watt AM/FM Audio System with CD player (MP3/WMA enabled), and an auxiliary audio input jack.

The Civic LX adds or upgrades: cruise control, power door locks, 16-inch steel wheels with covers, P205/55R16 tires, keyless entry, center console with sliding armrest, progressive blue illumination instrument panel meters, auto up and down driver’s power window, and a folding rear seat.
The Civic LX-S Sedan adds or upgrades: alloy wheels, LX-S-exclusive sport-trimmed black cloth seats with synthetic suede bolsters and silver stitching, LX-S-exclusive leather-wrapped steering wheel, LX-S-exclusive rear-deck spoiler, and a chrome exhaust finisher.

The Civic EX Sedan and Coupe adds or upgrades: a one-touch power moonroof, a 60/40 split folding rear seat, ambient console lighting, steering wheel-mounted audio controls and the availability of the Honda Satellite-Linked Navigation System with Voice Activation, which also includes XM Satellite Radio.

The Civic EX-L adds or upgrades: leather-trimmed seating surfaces, console, steering wheel and shift knob; heated seats; and heated door mirrors.The Civic EX Coupe and EX-L Coupe exclusively feature a 7-speaker with subwoofer AM/FM audio system with CD player (MP3/WMA enabled).


Civic Si Sedan and Coupe (2.0-liter i-VTEC 4-cylinder engine)
The Civic Si Sedan and Coupe serve as the performance cornerstone for the Civic lineup with a 197-horsepower, 16-valve, DOHC, 2.0 liter i-VTEC 4-cylinder engine mated to a close-ratio, 6-speed manual transmission. A helical-type, limited-slip differential enhances traction in high-performance driving situations. The Civic Si’s sport-tuned suspension adds firm spring, damper and stabilizer bar tuning along with exclusive 17-inch alloy wheels and high-performance tires. Exclusive exterior features include a rear wing spoiler (low profile on the sedan) and Si emblems. The sports-oriented interior adds firmly-bolstered and performance oriented sport-trimmed black cloth seats with synthetic suede bolsters and red stitching. For 2010, the only cosmetic change to the Civic Si is the color of the engine cover switching from silver to black.

Civic Hybrid (1.3-liter i-VTEC 4-cylinder engine with IMA)
The Civic Hybrid with advanced Integrated Motor Assist IMA® hybrid technology achieves an EPA-estimated city/highway fuel economy of 40/45 miles per gallon and includes Vehicle Stability Assist (VSA) and an available leather-trimmed interior with heated front seats, a leather-wrapped steering wheel and shift knob, and heated side mirrors. The Civic Hybrid is certified by the California Air Resource Board (CARB) as an Advanced-Technology Partial Zero Emissions Vehicle (AT-PZEV). A continuously variable transmission (CVT) is standard equipment.

The Civic Hybrid can deactivate all four of its cylinders and operate using only the electric motor in certain low-speed cruising situations. Power for the Civic Hybrid is provided by a 1.3-liter i-VTEC 4-cylinder engine and a 15 kilowatt electric motor, producing a combined 110-horsepower @ 6000 rpm and combined 123 lb-ft. of torque @ 1000-2500 rpm.

Civic GX (1.8-liter i-VTEC engine, dedicated natural gas vehicle)
The ultra-clean Civic GX produces near zero emissions and enables owners to become eligible for a $4,000 federal tax credit. The 2010 Civic GX is the only dedicated natural gas-powered passenger car available to retail customers in the United States and achieves an EPA estimated city/highway fuel economy of 24/36 miles per gasoline-gallon5. Currently, natural gas is approximately 35 percent less expensive than gasoline when purchased at a refueling station. The Civic GX is the only vehicle certified by the EPA to meet both Federal Tier 2-Bin 2 and Inherently Low Emission Vehicle (ILEV) zero evaporative emission certification standards. The Civic GX is available to consumers at qualified Honda dealers in the states of California, Utah and New York and is also available to fleet customers nationwide from qualified Honda dealers.

Manufacturing
The majority of Civics sold in the United States are produced and assembled in the United States and Canada using domestic and globally sourced parts. All Civic Coupe and Civic Si models are solely produced and assembled at the Honda of Canada Manufacturing plant in Alliston, Ontario, along with the Civic Sedan. Honda Manufacturing of Indiana in Greensburg, Indiana, also produces the Civic Sedan. Civic Hybrid models are produced and assembled in the Honda Motor Co., Ltd., Suzuka, Japan, manufacturing facility.

1 Certain functions that rely on a satellite signal will not work correctly in Hawaii and Alaska. These functions include but are not limited to automatic clock updates and time zone adjustments. The Bluetooth word mark and logos are owned by the Bluetooth SIG, Inc., and any use of such marks by Honda Motor Co., Ltd., is under license.

2 Windows Media® Audio is a registered trademark of Microsoft Corporation.

3 CompactFlash® is a registered trademark of the Compact Flash Association.

4 Required XM® Radio monthly subscription sold separately after 90 day trial period. Other fees and taxes may apply after initial trial period, including a one-time activation fee. Subscription fee is consumer only. All fees and programming subject to change. Subscriptions subject to Customer Agreement available at xmradio.com. XM service only available in the 48 contiguous United States. The XM name is a registered trademark of XM Satellite Radio Inc.

5 Based on 2010 EPA mileage estimates, reflecting new EPA fuel economy methods beginning with 2009 models. Use for comparison purposes only. Do not compare to models before 2009. Your actual mileage will vary depending on how you drive and maintain your vehicle.

Toyota Sells 2 Million Hybrids

Toyota has surpassed the 2 million mark for hybrids sold. Starting with 300 mass produced hybrid Coaster Hybrid EV and Prius sales in Japan in 1997, sales of hybrids have taken off since then.

About 3/4 of all Toyota hybrids are sold in the America. And a majority of those are from one model, the Prius.

It took a decade to do it, but at the end of May, 2007, sales had topped one million. Just two years later, sales have hit 2.01 million (as of August 31, 2009).

Toyota estimates a savings of 11 million tons of CO2 emissions from their hybrid line-up of cars.

From the press release:

TMC Hybrid Vehicle Sales*1 (Unit = 1,000 vehicles)
Year '97 '98 '99 '00 '01 '02 '03
Japan 0.3 17.7 15.3 12.5 18.5 20.0 27.2
Overseas - - - 6.5 18.5 21.4 26.1
Total 0.3 17.7 15.3 19.0 36.9 41.3 53.3
Cumulative total - 18.0 33.2 52.3 89.2 130.5 183.8
Year '04 '05 '06 '07 '08 Jan. –
Aug. '09
Cumulative
Total
Japan 68.7 58.5 72.4 82.0 104.4 118.3 615.8
Overseas 66.0 176.4 240.1 347.4 325.3 173.4 1,401.1
Total 134.7 234.9 312.5 429.4 429.7 291.7 2,016.9
Cumulative total 318.5 553.5 866.0 1,295.4 1,725.1 2,016.9 -
*1Including Lexus brand; based on TMC data


Cumulative Sales*1 of Main TMC Hybrid Passenger Vehicles (Unit = 1,000 vehicles)
Vehicle name Prius Estima Hybrid Crown Hybrid Harrier Hybrid Kluger Hybrid
(Highlander Hybrid)
Camry Hybrid RX400h/
RX450h
Japan 464.7 64.3 11.4 18.8 3.4 - 3.6
Overseas 954.5 - - - 104.1 167.4 142.8
Total 1,429.3 64.3 11.4 18.8 107.6 167.4 146.4
Vehicle name GS450h LS600h/
LS600hL
HS250h Crown
Mild Hybrid*2
Alphard Hybrid*3 Cumulative
Passenger hybrid vehicles Commercial hybrid vehicles*4
Japan 4.9 10.1 0.9 6.5 24.4 613.0 2.7
Overseas 14.4 7.3 0.5 - - 1,401.1 -
Total 19.2 17.5 1.4 6.5 24.4 2,014.2 2.7
*1Including Lexus brand, based on TMC data, as of August 31, 2009; *2Consisted of two models: Crown Royal production ceased December 2003, Crown Sedan production ceased April 2008; *3Production ceased April 2008; *4Accumulated figure for Coaster Hybrid EV (production ceased August 2004), Dyna Hybrid, Toyoace Hybrid and Quick Delivery 200


TMC Hybrid Vehicle Chronology
Year Month Milestone
1997 Mar. Toyota Hybrid System (THS) unveiled
Aug. Coaster Hybrid EV launched (Japan only)
Dec. Prius launched
2000 Nov. Cumulative Prius sales top 50,000 vehicles
2001 Jun. Estima Hybrid launched (Japan only)
Aug. Crown Mild Hybrid launched (Japan only)
2002 Mar. Cumulative hybrid vehicle sales top 100,000 mark
Aug. Cumulative Prius sales top 100,000 vehicles
2003 Apr. Toyota Hybrid System II (THSII) unveiled
Jul. Alphard Hybrid launched (Japan only)
Sep. Second-generation Prius launched
Nov. Dyna Hybrid and Toyoace Hybrid launched (Japan only)
2005 Mar. Harrier Hybrid (RX400h outside Japan) and Kluger Hybrid (Highlander Hybrid) launched
Oct. Cumulative hybrid vehicle sales top 500,000 mark
Dec. Prius production commenced at the Changchun Plant, China
2006 Mar. GS450h launched in Japan
Apr. Cumulative Prius sales top 500,000 vehicles
May Camry Hybrid launched (for sale outside Japan)
Jun. Redesigned Estima Hybrid launched (Japan only)
Oct. Camry Hybrid production commenced at the Kentucky Plant, U.S.; Quick Delivery 200 launched (Japan only)
2007 May Cumulative hybrid vehicle sales top 1-million mark; LS600h/LS600hL launched
2008 Feb. Crown Hybrid unveiled (launched in April; Japan only)
May Cumulative Prius sales top 1 million vehicles
2009 Jan. RX450h unveiled (launched in April)
May Third-generation Prius launched
Jul. Camry Hybrid production commenced at the Gateway Plant, Thailand; HS250h launched
Aug. Cumulative hybrid vehicle sales top 2-million mark



1 Based on TMC data
2 Excluding the Coaster Hybrid EV, Dyna Hybrid, Toyoace Hybrid and Quick Delivery 200
3 Number of registered vehicles × distance traveled × fuel costs (actual fuel efficiency in each country) × CO2 conversion factor

Jumat, 04 September 2009

Prius Outsells Everyone in Japan

Prius continued it's stranglehold on the top of the charts for the fourth month in a row in Japan.  Toyota sold 21,669 units in Japan, followed by the Honda Fit. 

The tax breaks and subsidies continue to keep hybrids at the top of the market in the Japanese market.  Before the third generation Prius came on market, the Insight grabbed the top spot.  But immediately after the new generation Prius came out it grabbed the top spot and it refuses to let go.

Kamis, 03 September 2009

Mercedes-Benz launched the S-Class Hybrid in Japan

Mercedes-Benz launched the S-Class Hybrid, S400, in Japan (Source: Mercedes-Benz launches 1st luxury hybrid model in Japan). That makes them the first foreign company to compete in the red-hot hybrid market of Japan.

The S-Class Hybrid gets 30% better fuel efficiency than the conventional model, and costs about 14.05 million yen (upwards of $150,000 in US). It is eligible for the tax-breaks that make the Insight and Prius so popular in Japan.

The V6 3.5 liter gas engine is mated to a 15kW electric motor.  Combined, the engines produce 299 hp and a maximum torque of 385 Nm (284 lb-ft).  The fuel economy is about 7.9L/100 km (30 mpg).

Rabu, 02 September 2009

Hybrid Car Sales, August 2009

Hybrid car sales were up by a remarkable 49.8% from August, 2008, making August 2009 the best August for hybrid sales ever and the fourth best sales month for hybrids. A total of 37,781 units were sold, helped by higher gas costs and the Cash for Clunkers program. The Lexus HS 250h had a great first month, and the newly introduced third generation Toyota Prius was up 40% in sales from last year.

Ford hybrid sales were up by over 250%, pushed by a a 57% gain in Escape and Mariner Hybrid sales, along with another very strong sales month for the Fusion and Milan Hybrid.  Nissan had an incredible gain of over 600% for the Altima Hybrid.  Honda and Toyota saw gains of 59 and 24%, respectively.  Only GM saw a decline in hybrid sales this month of 1.3%.   Sales for GM are shown for the full hybrid line-up only.   Their mild hybrid line-up did see a slight gain.

Cumulative hybrid sales are still down by 19% for the year.  They have been depressed from the changeover for the Prius, as customers held off until the new Prius arrived in showrooms.  Also the recession and lower gas prices from last summers high have helped keep hybrid sales down until the past couple of months.


It's unclear whether hybrids will see a 'hangover' effect from the end of the Cash for Clunkers program in the coming months.  The new Insight and Prius have been strong sellers so far, and the Prius has been a strong seller for years now.   Honda Civic Hybrid sales have fallen off, as Insight sales have climbed.  This may be an indicator that the Insight, which was intended to compete with the Prius, is really competing with the Civic Hybrid instead.


Monthly Sales August 2008 August 2009 % Change
Make Model N % N %
Chrysler Aspen/Durango 0 0.0 0 0 0
Ford Escape/Mariner 1,338 5.3 2,102 5.6 57.1
Ford Fusion/Milan 0 0.0 2,593 6.9 0.0
GM Escalade 1 0.0 214 0.6 21300.0
GM Silverado/Sierra 0 0.0 226 0.6 0.0
GM Tahoe/Yukon 797 3.2 348 0.9 -56.3
Honda Accord 2 0.0 0 0.0 -100.0
Honda Civic 3,105 12.3 717 1.9 -76.9
Honda Insight 0 0.0 4,226 11.2 0.0
Nissan Altima 442 1.8 3,164 8.4 615.8
Toyota Camry 3,456 13.7 2,114 5.6 -38.8
Toyota GS 450h 35 0.1 48 0.1 37.1
Toyota HS 250h 0 0.0 543 1.4 0.0
Toyota Highlander 1,227 4.9 836 2.2 -31.9
Toyota LS600hL 71 0.3 10 0.0 -85.9
Toyota Prius 13,463 53.4 18,886 50.0 40.3
Toyota RX 400h 1,277 5.1 1,754 4.6 37.4
Total 25,214 37,781 49.8
Cumulative Sales Cumulative 2008 Cumulative 2009 % Change
Make Model N % N %
Chrysler Aspen/Durango 0 0 0 0.0 0.0
Ford Escape/Mariner 15,303 6.3 12,536 6.4 -18.1
Ford Fusion/Milan 2,810 1.2 11,342 5.8 303.6
GM Escalade 168 0.1 1,221 0.6 626.8
GM Silverado/Sierra 180 0.1 876 0.5 386.7
GM Tahoe/Yukon 2,304 1.0 3,430 1.8 48.9
Honda Accord 193 0.1 1 0.0 -99.5
Honda Civic 23,106 9.5 14,014 7.2 -39.3
Honda Insight 2,295 0.9 14,045 7.2 512.0
Nissan Altima 7,047 2.9 7,368 3.8 4.6
Toyota Camry 36,497 15.1 17,630 9.1 -51.7
Toyota GS 450h 539 0.2 301 0.2 -44.2
Toyota HS 250h 0 0.0 543 0.3 0.0
Toyota Highlander 15,451 6.4 8,366 4.3 -45.9
Toyota LS600hL 736 0.3 195 0.1 -73.5
Toyota Prius 124,078 51.2 93,810 48.2 -24.4
Toyota RX 400h 11,684 4.8 8,921 4.6 -23.6
Total 242,391 194,599 -19.7

BTW, Back in August of 2008, sales were still going strong for hybrids, with high gas prices forcing a sell out of hybrids, especially the Prius. 

Related:
Hybrid Car Sales, August 2008
Hybrid Car Sales, July 2009

Selasa, 01 September 2009

Toyota Brings Plug-in Prius and Hybrid Auris to Frankfurt

Toyota announced they will be bringing the plug-in Prius and the Auris HSD Full Hybrid Concept to the Frankfurt Motor Show for its world premier.

The Plug-in Prius will begin leasing in early 2010 to select fleet customers. Toyota will be overseeing the field trials of over 150 units.

The Auris HSD Full hybrid concept vehicle will contain all of the elements of a full hybrid vehicle inside a mainstream model. Toyota says this is the first step in the deployment of their Hybrid Synergy Drive (HSD) across the company's model range.

The Auris hybrid will begin production in Derby in 2010. The Auris hybrid uses 19 percent less fuel and emits 17 percent less CO2 than the conventional Auris.

Toyota Camry Hybrid in Australia

Toyota of Australia began a pilot build program at the end of August for the Camry Hybrid. The pilot program at the Altoon assembly plant in Melbourne produces a small batch of vehicles to test the processes, parts and assembly methods.

The pilot production begin in anticipation of full scale production beginning in December, with sales starting in February. The Camry Hybrid built in Australia will be the first hybrid built in Australia. The powertrain and hybrid technology will be imported for assembly.

"The Hybrid Camry is a significant step towards a greener, more sustainable automotive industry," Federal Industry Minister Kim Carr said in a statement.
The car will give Australians a choice if they prefer a hybrid, he said. "This is a major achievement for Toyota Australia - this plant is one of only five Toyota plants in the world making hybrid vehicles."

Once it is up and running, Toyota plans on producing 10,000 hybrids per year for domestic sale and 300 for export to New Zealand.

The Federal Government gave AU$35 million to Toyota from the Green Car Fund in order to help Toyota in making the changes necessary to build the hybrid in Australia. Toyota will spend AU$145 million in the total re-work.

"This is a major achievement — particularly in the current global economic climate — and a major vote of confidence for Victoria and our economy," Premier John Brumby said.