Industry sales continued to rebound, VW completed its acquisition of Porsche, and Honda and Toyota staged impressive comebacks. Names and faces came and went, as well, in 2012. A look back at some of the notable bold-faced names and brands that left the automotive scene in 2012:
Toyota and lawyers suing the company won preliminary court approval of a $1.1. billion settlement of claims that recalls for unintended acceleration hurt the value of U.S. customers' vehicles. The terms of the settlement filed Dec. 26 are "fair, reasonable and adequate," U.S.
Fisker Automotive has sued XL Group Plc after being denied insurance coverage over flooding from Superstorm Sandy that destroyed 338 of its Karma plug-in hybrids, worth about $33 million, at a Port Newark, N.J., shipping facility.
Toyota eliminated a huge obstacle with a U.S. settlement over unintended acceleration in its cars and trucks, leaving it to fight smaller cases that will be harder for plaintiffs to prove and less likely to damage the company's growing sales.
Porsche shares surged on Friday after it won a dismissal of a U.S. lawsuit by 26 hedge funds but analysts warned the German company's triumph in court hinged on a legal formality rather than the substance of the case.
Dockworkers and their employers reached a tentative agreement on royalty payments, averting a strike that would have shut down eastern U.S. ports, possibly disrupting auto parts shipments, for the first time in 35 years.
Nissan's new low-cost Datsun cars will be based on a Lada, executive vice president Colin Dodge said. "Datsuns will be built off the new Lada Kalina platform," Dodge, who is Nissan's top executive for Europe.