On Tuesday, Toyota Motor Corp. said that hundreds of thousands of Priuses currently in use will be recalled to prevent floor mats from pinning down the gas pedal. However, according to Toyota spokesman Brian Lyons, the recall hasn't yet been issued because Toyota "hasn't developed the remedy yet."

In November 2009, the automaker recalled several models, including the Toyota Camry and Avalon, as well as the Lexus ES sedan in order to reshape the floor and gas pedals to prevent unsecured or poorly fitting floor mats from entrapping the pedal in an open position. As a part of that recall, Toyota now says that Prius hybrids from model years 2004 to 2009 will be recalled in the future to address the same problem.

Toyota is advising owners of those Priuses which fall in those model years to remove their floor mats in the meantime. From the 2004 to 2009 model years, Toyota sold 745,000 Priuses.

After General Motors failed to sell its Hummer SUV line of vehicles to China's Sichuan Tengzhong Heavy Industrial Machinery Co., the company announced Wednesday that it will shutter Hummer. GM has unsuccessfully been trying to unload the Hummer brand for more than a year now.

GM and Sichuan Tengzhong Heavy Industrial Machinery had been planning to close a $150 million deal in January, but the sale was delayed while the two companies awaited approval by the Chinese government. Now, the deal is dead in the water.

John Smith, GM's vice president of corporate planning and alliances said:

"We are disappointed that the deal with Tengzhong could not be completed," John Smith, GM vice president of corporate planning and alliances. GM will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner."

While Hummer will cease to exist in the very near future, GM will contiue to honor Hummer warranties and provide service and parts for the SUVs.

With so many auto insurance companies claiming to be the best, it’s difficult to know which one to choose. Here are five important questions to ask before signing on with any car insurance company.

1) What type of coverage do I need?

There are four big ones to ask about.

• Personal coverage: This includes medical coverage and compensation of lost wages for the policyholder and his or her passengers.
• Collision coverage: This coverage will pay for the repair or replacement of your vehicle in case of an accident.
• Comprehensive coverage: This includes coverage in case of a natural disaster or theft.
• Uninsured motorist coverage: This coverage will help if you’re in an accident with someone who is uninsured. If they are uninsured or do not have enough coverage to pay for you, this insurance coverage will pay for your repairs. Also included in this coverage is a hit and run.

2) What discounts are available?

According to new documents just recently shared with congressional investigators, Toyota officials claimed to have saved the automaker $100 million by successfully negotiating with the government on a limited recall of floor mats in some Toyota and Lexus vehicles. Translation: by delaying the investigation of defects and slowing down other industry requirements, Toyota was able to save a large sum of money.

The automaker's greed, however, has come back to haunt them as an investigation into the company continues.

In an internal presentation in July 2009 at its Washington office, Toyota said it saved $100 million or more by negotiating an "equipment recall" of floor mats involving 55,000 Toyota Camry and Lexus ES350 vehicles in September 2007. The savings are listed under the title, "Wins for Toyota - Safety Group."

The document also cites millions of dollars in other savings realized by delaying safety regulations, avoiding defect investigations, and slowing down other industry requirements. It also appears to show that Toyota put profits ahead of consumer safety, and urged regulators to narrow the scope of recalls.

A new study published by Foresight Research in Michigan entitled "2010: Automotive Marketing Return on Investment" details the effectiveness of auto shows. With the Cleveland Auto Show just around the corner (Feb. 27 - March 7), many of the study's findings will be of interest to local dealers and franchise owners.

The study found that 20 percent of new car buyers attended an auto show within 12 months of their purchase, and this number was even higher in areas where auto shows have a much larger presence. In the Midwest region, potential buyer attendance numbers were significantly higher than the national average:

• Chicago - 27%
• Minneapolis - 28%
• Detroit - 35%
• Cleveland - 36%

The influence number increased even more if customers participated in a ride and drive, jumping to 54%.

Researchers compiled data from 8,467 people who either purchased or leased a new vehicle between October 2008 and October 2009. Steve Bruyn, President of Foresight Research, said of the results:

The Toyota recalls have begun to trigger the filing of lawsuits across the country. A class-action suit in Brooklyn, New York was filed yesterday, a team of lawyers representing 15 plaintiffs filed a $1 billion suit in Florida, and suits were also filed in Ohio and Texas, amongst many others. While most of these lawsuits may represent a pesky headache for Toyota, as many of those involved were uninjured, there is likely to be at least one fatal case that exemplifies the seriousness of Toyota's problems that could really put them in an even worse place than they are now.

On Friday, the New York Times highlighted one of these tragic cases. A 77-year-old grandmother was driving in her own neighborhood, and according to several witnesses they say her car accelerated out of control, ran several red lights, dodged other cars and eventually hit a tree at approximately 80 miles per hour. Guadalup Alberto, the driver, was killed.

Transportation Secretary Ray LaHood is telling owners of recalled Toyotas to stop driving the vehicles immediately. Lahood says that Toyota says that they know how to fix the cars and trucks that have been recalled, and that they should be taken to dealerships for the fix.

Toyota stock price is taking a beating today as it has been revealed that the National Highway Traffic Safety Administration will conduct an investigation into electronic throttle control systems and potential electromagnetic issues which would be a much bigger problem than the company has stated it has.

Toyota has announced that they have found a fix for their accelerators that led to the company recalling over 2 million vehicles and halting sales of eight models. The company announced in a press release:

Parts to reinforce the pedals are already being shipped for use by dealers, and dealer training is under way. Many Toyota dealers will work extended hours to complete the recall campaign as quickly and conveniently as possible, some even staying open 24 hours a day. The company has also taken the unprecedented action of stopping production of affected vehicles for the week of February 1.

"Nothing is more important to us than the safety and reliability of the vehicles our customers drive," said Jim Lentz, president and Chief Operating Officer, TMS. "We deeply regret the concern that our recalls have caused for our customers and we are doing everything we can - as fast as we can - to make things right. Stopping production is never an easy decision, but we are 100% confident it was the right decision. We know what's causing the sticking accelerator pedals, and we know what we have to do to fix it. We also know it is most important to fix this problem in the cars on the road."

There's nothing like the prospect of losing $550 million per month to spur innovation. Toyota has told its employees that it has figured out a way to fix a problem with sticking accelerator pedals, and will begin briefing them on the details on Friday.

In an e-mail to employees sent out Thursday, Toyota said it had presented the fix to the National Highway Traffic Safety Administration. On its website, the company said that engineers are working around the clock to fix the problem which is present in eight of its models, including its top-selling Camry.

According to the automaker and the company that makes the gas pedal systems, the accelerators rarely stick. But earlier this week Toyota halted sales and production of the models, and has recalled at least 2.4 million cars and trucks in the U.S., Europe, and China due to the problem.

The House Oversight and Government Reform Committee has launched an investigation into the problems with Toyota's accelerator pedal systems, and has scheduled a hearing for Feb. 4 entitled "Toyota Gas Pedals: Is the Public at Risk?" A second House investigative panel is planning a hearing for Feb. 25 on Toyota recalls.

General Motors and Ford are aiming to poach current owner of Toyota. Toyota has recently recalled millions of vehicles and halted sales because of problems with their accelerators.

GM will offer a $1000 rebate until February released and said in a press release:

"We decided to make this offer after receiving many e-mails and calls from our dealers, who have been approached by Toyota customers asking for help."