DETROIT (Reuters) – Toyota Motor Corp’s crippling sales shutdown of eight models due to a U.S. safety recall will continue until at least mid-February, sources briefed on the matter said on Friday.

Competitors moved to profit from rising consumer frustration as models that represented more than half of Toyota’s 2009 U.S. sales are not for purchase because of accelerator pedals that may stick.

The sales resumption assumes a smooth and swift rollout of a remedy to fix faulty accelerators in vehicles already sold or at dealerships, said the sources, who wished to remain anonymous because Toyota’s plans are still developing.

“The third week of February is very optimistic,” said one of the sources.

DETROIT, Jan 29 (Reuters) – Toyota Motor Corp’s <7203.T> crippling sales shutdown of eight models due to a U.S. safety recall will continue until at least mid-February, sources briefed on the matter said on Friday.

Competitors moved to profit from rising consumer frustration as models that represented more that half of Toyota’s 2009 U.S. sales are not for purchase because of accelerator pedals that may stick.

The sales resumption assumes a smooth and swift rollout of a remedy to fix faulty accelerators in vehicles already sold or at dealerships, said the sources, who wished to remain anonymous because Toyota’s plans are still developing. [nN29227571]

“The third week of February is very optimistic,” said one of the sources.

DETROIT (Reuters) – Toyota Motor Corp plans to resume sales of eight recalled models including the top-selling Camry as soon as the third week of February, said three sources briefed on plans by the world’s largest automaker.

Toyota expects to begin repairing or replacing flawed accelerator pedals on 2.4 million vehicles as early as next week, said the sources, who declined to be named because the Toyota has not made its still-developing plans public.

If all goes smoothly, Toyota could limit losses to a four-week sales shutdown after a recall that has rocked its reputation in its largest market.

Even that target is ambitious because of the massive number of vehicles involved and the need to conclude a review by U.S. safety regulators, the briefed sources said.

DETROIT, Jan 29 (Reuters) – Toyota Motor Corp <7203.T> plans to resume sales of eight recalled models including the top-selling Camry as soon as the third week of February, said three sources briefed on plans by the world’s largest automaker.

Toyota expects to begin repairing or replacing flawed accelerator pedals on 2.4 million vehicles as early as next week, said the sources, who declined to be named because the Toyota has not made its still-developing plans public.

If all goes smoothly, Toyota could limit losses to a four-week sales shutdown after a recall that has rocked its reputation in its largest market.

Even that target is ambitious because of the massive number of vehicles involved and the need to conclude a review by U.S. safety regulators, the briefed sources said.

DETROIT (Reuters) – Toyota Motor Corp is consulting with U.S. safety regulators on a fix that would allow it to avoid the more costly option of shipping brand new accelerators for over 2 million Americans with vehicles under recall, two people briefed on the talks said.

A spokesman for Toyota confirmed that the company had been in close consultation with the National Highway Traffic Safety Administration over a proposed fix for the problem of accelerator pedals that can become stuck with wear.

The proposed remedy under discussion with U.S. officials would involve shipping a “spacer” or a “shim” to Toyota’s dealers in the United States, the sources said.

The new part would increase the tension in the accelerator and help prevent sticking, Toyota engineers believe, according to the sources, who asked not to be named because an announcement has not been made.

DETROIT, Jan 28 (Reuters) – Toyota Motor Corp <7203.T> is consulting with U.S. safety regulators on a fix that would allow it to avoid the more costly option of shipping brand new accelerators for over 2 million Americans with vehicles under recall, two people briefed on the talks said.

A spokesman for Toyota confirmed that the company had been in close consultation with the National Highway Traffic Safety Administration over a proposed fix for the problem of accelerator pedals that can become stuck with wear. [ID:nN28117680]

The proposed remedy under discussion with U.S. officials would involve shipping a “spacer” or a “shim” to Toyota’s dealers in the United States, the sources said.

The new part would increase the tension in the accelerator and help prevent sticking, Toyota engineers believe, according to the sources, who asked not to be named because an announcement has not been made.

DETROIT (Reuters) – The supplier that builds the accelerator pedals at the center of a massive recall by Toyota Motor Corp <7203.T> is ramping up production on a redesigned part that it believes fixes the safety issue that has shut down sales of some of the automaker’s most popular models.

“Step one is that we have a new design,” CTS Corp <CTS.N> Chief Executive Vinod Khilnani said. “That new design has been, I believe, tested adequately by CTS and Toyota and has been agreed as the solution.”

Khilnani said his company had built the earlier accelerator pedals to Toyota’s initial specifications and that problems reported with the pedal sticking appeared to be linked to condensation around the part which the automaker had not anticipated.

“We built the pedal to their specifications and Toyota has concurred with that,” Khilnani said on a conference call with analysts to discuss the company’s financial results.

AMSTERDAM/DETROIT (Reuters) – General Motors Co <GM.UL> has made progress toward a revived deal to sell its Swedish Saab brand to Spyker Cars NV <SPYKR.AS> after negotiations in Stockholm on Friday, a Spyker executive and a second person with direct knowledge of the talks said.

Spyker Chief Executive Victor Muller told Reuters in a text message that he was “still confident” of reaching a deal to buy Saab and that he was in negotiations with GM representatives in Stockholm on Friday.

The second source said the latest round of talks had opened the possibility that Spyker could demonstrate that its offer for Saab would be better for GM than simply shutting down the brand, a process GM started earlier this month.

A resolution to the latest round of talks between GM and Spyker could come as early as Monday, said the person, who asked not to be named because the negotiations are private.

AMSTERDAM/DETROIT, Jan 22 (Reuters) – General Motors Co [GM.UL] has made progress toward a revived deal to sell its Swedish Saab brand to Spyker Cars NV <SPYKR.AS> after negotiations in Stockholm on Friday, a Spyker executive and a second person with direct knowledge of the talks said.

Spyker Chief Executive Victor Muller told Reuters in a text message that he was “still confident” of reaching a deal to buy Saab and that he was in negotiations with GM representatives in Stockholm on Friday.

The second source said the latest round of talks had opened the possibility that Spyker could demonstrate that its offer for Saab would be better for GM than simply shutting down the brand, a process GM started earlier this month.

A resolution to the latest round of talks between GM and Spyker could come as early as Monday, said the person, who asked not to be named because the negotiations are private.

DETROIT, Jan 15 (Reuters) – Electric car builder Fisker Automotive said on Friday it had raised $115 million in equity, clearing a key financing hurdle that will allow it to draw on U.S. government loans needed to launch two plug-in hybrid vehicles.

Raising the additional equity was a condition Fisker had to meet to gain access to a $529 million loan the U.S. government granted to help fund the carmaker’s expansion plan.

A123 Systems Inc <AONE.O>, which signed a deal this week to supply lithium-ion battery packs to Fisker for its two upcoming plug-in hybrid models, invested $23 million in Fisker and will take a seat on the board.

Fisker said other investors in the funding round included Silicon Valley-based Kleiner Perkins Caufield & Byers, one of the early investors in the California-based start-up founded in 2007, and Ace Investments.