February 18, 2010

For Immediate Release
Contact: Frank Hackett, NAAA Executive Director
hackett@naaa.com
(301) 696-0400

Procedures for Selling Suspended Toyotas

On January 26, 2010, Toyota Motor Sales (TMS) announced that they were instructing all Toyota dealers to temporarily suspend sales of eight models involved in the recall for sticking accelerator pedals. In response to TMS’ announcement, the National Auto Auction Association (NAAA) recommended that all member auctions immediately halt the sales of these vehicles until the safety issues were resolved. TMS subsequently announced that they had developed a solution to repair the recalled vehicles and began shipping parts to their dealer network.

Toyota Financial Services (TFS) has developed a strategy to sell these recalled vehicles through TFS Off Lease Dealer Direct and through Closed Online Sales and the auctions that conduct these sales have been informed of the procedures for selling these vehicles. TFS has also implemented procedures for making recall repairs at auctions in order to sell repaired vehicles in open in-lane sales.

The National Auto Auction Association supports the TFS plan and recommends that all vehicles impacted by the AOA Pedal recall have had the outstanding campaign completed prior to offering these vehicles in open in-lane sales. Repairs must be completed by a Toyota Dealer and arrangements should be made directly with the Toyota Dealer nearest the auction location. Auctions can visit Toyota.com to verify the recall status for particular VIN’s.

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Posted 2/18/2010