Toyota Recalls More Than 6 Million Vehicles Worldwide — Businessweek

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Toyota Recalls More 6 Million Vehicles Worldwide

By Trudell and Yuki Hagiwara 09, 2014

A badge is seen on a Motor Corp. RAV 4 sport-utility (SUV) displayed at the company’s in Tokyo. Photographer: Tomohiro

Toyota Motor Corp. the world’s largest carmaker, back more than 6 vehicles to fix a range of safety in one of the biggest recall announcements in history.

The company found types of safety hazards in including some of its top sellers as the Camry sedan, RAV4 vehicle and Corolla cars, to a statement today. The carmaker aware of any injuries or fatalities to the defects, it said.

The company’s big recall since late is a setback for President Akio who has spent years trying to the company’s reputation for quality the 2009-2010 recall crisis it over unintended acceleration. of safety practices in the auto is rising as U.S. regulators General Motors Co. (GM:US ) for its of deadly ignition-switch flaws the company knew of as far back as

GM Workers Who Built Defective ‘How Does This

GM Fined by U.S. Safety for Incomplete Answers

“Something is Koji Endo, an analyst at Research Japan in Tokyo, by telephone. “They may even to review their production Even if the problem is with the Toyota should be responsible for

While details weren’t for precise calculations, Endo that the recall could Toyota about 60 billion yen million) to 70 billion yen, or yen per vehicle.

7 Years

Even mounting scrutiny of their processes, it often takes years to recall vehicles. first identified one of the five in today’s recall back in it said in an e-mail. The one that to light most recently last year, it said.

fell 3.1 percent to close at yen in Tokyo after the announcement, down the benchmark Topix which declined 2.1 percent. The American depositary receipts 1.3 percent to $107.74 at 10:32 in New York.

The recalls involve 6.39 vehicles, some of which are called back for more one issue, pushing the total to 6.76 million, the company The Toyota City, Japan-based recalled 7.43 million in October 2012 to fix power-window on models including its Camry and cars.

Toyota last admitted to wrongdoing and agreed to by an independent monitor who is assessing its practices as part of a $1.2 settlement, the largest criminal ever imposed in the U.S. on an Toyoda, 57, has pledged to improve the recall process after back more than 10 vehicles for flaws that led to acceleration.

GM Grilling

Lawmakers week drew parallels to unintended-acceleration recalls as they CEO Mary Barra on GM’s of flawed ignition switches the company has linked to at least 13 The largest U.S. automaker is fined $7,000 a day for failing to answer questions about the part in small cars the Chevrolet Cobalt.

In today’s recall, about 3.5 of the vehicles — more half in North America are being called back to spiral cables that may driver’s-side airbags from Models involved include Corolla, Yaris, Highlander, and Camry that were from April 2004 to 2010.


Seat Rails

2.3 million vehicles are being back to inspect and replace the rails of three-door models. that lock these may break if the seats are frequently back and forth, the company

The models involved with issue, which could to seats moving in a crash, built from January through August 2010. The are the Ist, Vitz, Belta and in Japan, and Scion xD, Urban and Yaris in other markets.

also will fix noisy and unstable steering column on about 760,000 vehicles The remaining safety campaigns are to windshield wiper motors of 160,000 Ractis vehicles in and the engine starters of about vehicles in Japan and Hong

Toyota Endo

“This is Toyota being active in calling back to ensure quality,” said Nakanishi, a Tokyo-based analyst for Group LLC, who has a hold on the company’s shares. “The is big, but the faults are minor and not

Big Recalls

Among other big in automotive history, Ford Co. (F:US ) called back than 14 million vehicles in for a faulty cruise-control switch could cause a fire, to the U.S. Transportation Department’s

In 1996, the Dearborn, Michigan-based recalled 7.9 million vehicles for ignition switches that short circuit and cause GM called back 6.7 million in 1971 to fix mounts that may the engine to lift and loss of control.

Toyoda, the grandson of the founder, has instituted a three-year on new car plants to tilt the company’s to quality and efficiency after the recalls.

Following its crisis, Toyota it improved procedures that had too dependent on decision-making in Japan and give regional operations the to make fixes. The carmaker formed a global quality that Toyoda has chaired.

is the second major global for Toyota this year. A of 1.9 million Prius hybrids in covered more than of the models sold since its 17 years ago. The company has software in Priuses to fix glitches could cause them to power or shut down and

Toyota Apology

“We sincerely to our customers for the inconvenience and concern by this recall announcement,” the said today in an e-mailed “Toyota has rededicated itself to its commitment to safety and quality. In that means refocusing on customers and people first, by better and taking appropriate

Recalls haven’t slowed Toyota’s earnings. The company has profit for the year ending 31 will surge to a record 1.9 yen. Toyota also has set a of selling an unprecedented 10.32 vehicles in 2014 after GM and Volkswagen AG (VOW) in global deliveries for a second straight in 2013.

To contact the reporters on this Craig Trudell in Tokyo at Yuki Hagiwara in Tokyo at

To contact the editors responsible for story: Young-Sam Cho at ycho2@bloomberg.net Kong Ho, Niamh Ring

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Toyota Endo
Toyota Endo

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