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January | 2010 | Japan Auto Auctions

Toyota shares extend loss as recall woes deepen

TOKYO (Reuters) – Shares in Toyota Motor Corp (7203.T) fell for the sixth straight day on Friday as the world’s top automaker’s problems intensified over a recall of millions of vehicles due to faulty accelerator pedals and floor mats.

Toyota shares fell 2.1 percent to 3,485 yen in morning trade in Tokyo. They have lost 15 percent in the last five days.

“Toyota’s stock might fall further until the impact on earnings and profits from the recall becomes clear,” said Hiroaki Kuramochi, chief equity marketing officer at Tokai Tokyo Securities.

U.S. Congressional investigators are seeking e-mails and other documents from Toyota and U.S. safety regulators about the automaker’s recall.

It would be the first congressional review of its kind since the same committee investigated defective Firestone tires linked to deadly Ford Motor Co (F.N) rollovers in 2001.

On Thursday, Toyota said it would extend its safety recall of its most popular cars to Europe and [...]

If you’re planning on choosing a roadgoing car based on racetrack results, maybe you’d better think again. With the world’s greatestoff-road race, the Dakar Rally, currently powering its way through Chile, it’s interesting to note that the leaders of the event (BMW and Volkswagen) are among the least reliable 4×4 vehicles on the road, where it really counts. Newly released and highly credible information from the U.K. has revealed the most and least reliable pre-owned 4×4 and SUV cars on the market (see the top 10 lists here). Honda’s CR-V won the crown of the most reliable 4×4 by a fair margin while Audi’s A6 Allroad is the most unreliable 4×4 on the road, with Volkswagen’s Touareg and BMW’s X5 placing second and third most unreliable. That’s right folks, despite performing spectacularly in race events such as the Dakar, the VW Touareg is the second most unreliable 4×4 on the market, according to Warranty Direct.

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