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Toyota effects Car Rental Companies

Posted on Wednesday, February 3rd, 2010 at 4:10 am in Car Rentals by admin

Three car rental companies said Wednesday they are pulling thousands of its fleet of Toyotas in the gas pedals defective.

The Pontiac Vibe, made by General Motors Co. in collaboration with Toyota, has also been recalled and withdrawn from use by the holdings of the Company, which operates the Alamo Rent A Car, Enterprise Rent-A-Car and National Car Rental chains.

Toyota Motor Co. said Tuesday it was suspending the sale and stop production of the following eight models recalled last week to fix sticking gas pedal that could cause speeding cars and trucks without notice.

Avis Budget Group Inc. said it immediately is the elimination of 20,000 Toyotas of its rental fleet in the U.S., Canada and Puerto Rico. Moreover, Hertz Corp. said it would temporarily stop renting vehicles involved in the recall.

Privately held company said it also is pulling the affected vehicles, which represent about 4 percent of its fleet, but is acting in “an abundance of caution.”

The Pontiac Vibe is affected by the recall, because it was a product of joint venture with Toyota, with the same technology, products and manufacturing of Toyota vehicles. GM has discontinued the line and the entire Pontiac lineup.

A Buick-GMC spokesman said the company is awaiting the details of Toyota in the necessary repairs to existing customers for Pontiac Vibe.

Avis shares rose 16 cents to close at $ 11.53 Wednesday. Hertz shares added 27 cents to end at $ 11.01. Toyota shares fell $ 7.01, or 8.1 percent, to close at $ 79.77 and fell 27 cents in after-hours trading.

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