The results of Colliers International’s 2011 Parking Rate Survey are in for the U.S., Canada and the rest of the world, and there are few surprises. The U.S. national median monthly parking rate is US$155.22, with the highest being midtown Manhattan at US$541 and Renoa at US$45 the cheapest. In Canada, Calgary topped out at US$486 followed by Toronto at $342 USD and Montreal at $305 USD.
Not too long ago, if someone told you that a South Korean model would challenge America’s best selling sedan, the Toyota Camry, you would have probably laughed in his or her face. Needless to say, a lot has changed over the past few years with Hyundai and in particular its latest Sonata sedan, not only challenging, but this past May even surpassing the Camry in U.S. sales for the first time in history. 
Of course, the fact that Toyota’s production capabilities were seriously affected by the aftermath of the March 11 earthquake, tsunami and nuclear disaster in Japan, played a significant role in Hyundai’s accomplishment.
If you are a GM diehard or a Chevy Volt fanboy, I suggest you cover your ears and start humming loudly to yourselves. CNN Money recently featured an article from Fortune magazine’s Motorworld declaring the upcoming Toyota Prius Plug-in hybrid a better buy and a better car than Chevy’s range-extended electric vehicle. Shock, gasp, horror, blasphemy etc. To quote Motorworld senior editor Alex Taylor III: “[The Prius Plug-in is] more efficient and less expensive than the Volt, and Toyota actually stands the possibility of making a profit on it -- something General Motors concedes it can't do with the Volt.”
In spite of the earthquake and Tsunami that devastated Japan last March and which deeply affected the country’s automobile production capabilities, Toyota remains confident that US sales of the Prius will outperform those of 2010. The lack of inventory, with many dealers reporting as little as one day’s worth of Prius cars on their lots, led to a whopping 61% drop in July sales in the US, which is the lowest since 2004. And that’s significant because the US accounts for almost half of the all Prius models sold worldwide, which makes it Toyota’s most important market for its compact hybrid.
When the people over at Honda’s tuning partner Mugen aren’t working on more interesting and unique projects like the Civic Type R and even the CR-Z, they are usually kept busy with the brand’s more mundane vehicles such as the newly introduced Fit Shuttle. The Japan market only Fit Shuttle is a slightly taller, longer and more practical version of the Fit (also marketed as the Jazz in certain countries) which itself is a tall five-door subcompact model.
The electric car war rages on and the latest entrant is Mitsubishi’s new model year version of the i-MiEV that was revealed today in Japan. The most important changes that Mitsubishi made to its all-electric city car is the introduction of a new lower-cost base model and improvements to the standard version in order to extend its driving range. The new budget model is called the ‘M’ and its price comes down to 2.6 million Yen (US$32,070 -€22,170) or 1,880,000 Yen (US$23,190 - €16,040) after Japanese government subsidies. It is powered by an electric motor producing 41-horses and has a reduced driving range of 120 kilometers (75 miles).
Mazda announced today that sales of the facelifted Mazda Demio, or Mazda2 as the rest of the world knows it, have begun in Japan. The new Mazda2 is the company’s supermini and the target sales for its home market is 6,000 units per month.
Japanese carmaker Nissan Motor Co. revealed on Monday its new midterm business plan dubbed “Power 88”, with which it aims to boost both its global market share and profit margin to 8 percent within six years – hence the “88” reference in the name. Last year, Nissan, which is 44.3 percent owned by French partner Renault, had a 5.8 percent global market share. The new plan calls for the introduction of 52 new cars for fiscal years 2011 to 2016, or about one new vehicle every six weeks.
America’s second favorite muscle car after the Camaro (in terms of 2011 sales as Chevy’s model has outsold Ford’s pony car by around 33 percent through May, according to the latest data), is being offered in Japan in a limited edition version called the “Mustang V6 Sport Appearance”.
Toyota plans to add another country to the 47 that it already exports the Avensis, which is built exclusively at its UK factory in Burnaston, Derbyshire: its own home market, Japan. The company said demand for European styling and engineering from Japanese customers prompted its decision to bring the mid-size model.
Earlier this month, we reported on Nissan’s plans to drop the Altima Hybrid from its lineup at the end of the 2011 model year because of poor sales in the States as well as the fact that it uses a hybrid system borrowed from its chief Japanese rival, Toyota. On Monday, Japanese business daily Nikkan Kogyo said that Nissan has already began work on a new hybrid system for front-wheel drive cars that will be based on the firm’s rear-wheel-drive hybrid drivetrain that launched in the 2012 Infiniti M Hybrid.
We knew it wouldn’t be long before Wald International, one of Japan’s most well-known styling houses, released its program for the latest BMW 5-Series sedan, codenamed F10. The Japanese tuner’s Black Edition Sports Line BMW 5-Series comes with an assortment of aero body pieces made from fiberglass-reinforced plastic.
Mazda Motor Corporation announced today that it is opening a new production facility in Mexico, and a sales company in Brazil, both in collaboration with Sumitomo. The Japanese manufacture proceeded with these moves in order to strengthen its presence in the rapidly growing Central and South American markets.
After briefly postponing the presentation of its all-new Fit Shuttle due to a variety of problems that arose from the March 11 earthquake and tsunami in Japan, Honda on Thursday officially launched its mini MPV. While keeping the five-seat layout of the regular Fit (called Jazz in Europe), the Shuttle is longer and taller, with the extra space benefiting both the rear passengers and the cargo area.
Toyota on Thursday revised an earlier forecast predicting that North American production would return to 100 percent towards the end of the year with the company now stating that it expects normal output levels to be achieved in September. Following the problems that arose after the March 11 earthquake and tsunami in Japan, Toyota and its suppliers ramped up their efforts and as a result, eight of the company’s 12 North American-built models returned to 100 percent production on June 6.
After preparing its customers with an announcement in January, Nissan today went ahead and introduced a re-badged version of the Mazda5 MPV (called Premacy in its home market) in the form of the new Lafesta Highway Star. The compact minivan is supplied to Nissan by Mazda on an original equipment manufacturer (OEM) basis, and will be sold exclusively in Japan.
A bespoke sports car priced over than $370,000 and of which only 500 will be produced worldwide, isn’t something you normally expect to see at a drift event. But in the Land of the Rising Sun, everything goes when it comes to burning tires and wowing crowds. Making its appearance on the sidelines of the 2011 D1 Grand Prix Tokyo drift was this stock Lexus LFA, which you can enjoy in action in the video that follows after the break.
Toyota’s executives must be green with envy once they hear the salaries of their counterparts in Nissan. That is because, Nissan’s top directors were paid more than twice as much for the fiscal year that ended last March than their equals at Toyota, according to a report from Bloomberg. And this despite the fact that Toyota is Japan’s biggest car manufacturer and Nissan is number two. In a statement that Nissan issued before its annual meeting on June 29, average salary, including bonuses, for 14 executives was 126 million yen, or $ 1.6 million. In comparison, Toyota paid its 38 directors and auditors an average of about 41 million yen per executive.
Of course, the fact that Toyota’s production capabilities were seriously affected by the aftermath of the March 11 earthquake, tsunami and nuclear disaster in Japan, played a significant role in Hyundai’s accomplishment.
The first incident occurred on the tarmac during a parade of sports and super cars when an overly enthusiastic but sloppy driver of a winged Porsche Cayman rear-ended a Ferrari 360 as it slowed down in front of the crowd. The red Ferrari then bumped into a silver Ferrari California that was in front of it. You’ll have to jump 52 seconds into the first video to see the very expensive fender benders. 
Now the time has come for Toyota to unwrap its successor in the form of the GRMN SPORTS HYBRID Concept II that will receive both its public and racing debut at this weekend’s highly anticipated 39th Nürburgring 24-hour endurance race in Germany.
