Toyota sales in U.S. soared 40 per cent in March
A top Toyota executive says U.S. sales surged 40 per cent in March, powered by some of its deepest discounts ever in the wake of millions of recalls. Toyota Group Vice-President Bob Carter says some of the incentives will continue past March, including an offer of free maintenance for return Toyota customers. Carter made the remarks during an interview at the New York International Auto Show. The Japanese automaker is coping with recalls of more than eight million vehicles worldwide by offering incentives such as zero-per cent financing on recalled models, low-priced leasing and free maintenance. Toyota dealers have so far repaired about two million recalled vehicles in the U.S.
Regulator sides with Enbridge on pipeline charges
CALGARY — A U.S. energy regulator has decided in favour of Enbridge Inc. in a dispute over how much the pipeline giant can charge producers to ship their crude oil south of the border.
Enbridge (TSX:ENB) proposed to build the Alberta Clipper pipeline, which is set to begin filling with crude on Thursday, well before the recession hit in 2008, causing construction on new oilsands projects to virtually grind to a halt.
Suncor Energy Inc. (TSX:SU) and Imperial Oil Ltd. (TSX:IMO) argued the tolls they had previously agreed to pay to use Alberta Clipper would be unfair, given the changing production outlook. The commission said Wednesday it will not reject Enbridge’s tolls, defer implementation of surcharges or delay filling the line with crude. Alberta Clipper will ship crude 1,600-kilometres from Alberta to Wisconsin, with a capacity of 450,000 barrels per day. It was originally supposed to start up in July, but Enbridge said in January it would come into service ahead of schedule.