Toyota Admits Misleading Customers; Agrees To $1.2 Billion Criminal Fine…

17 Фев 2015 | Author: | No comments yet »
Toyota Fine-S

Toyota Admits Misleading Agrees To $1.2 Billion Fine

In a stunning punch to one of the admired carmakers in the world, the Justice Department today a criminal fraud charge Toyota Motor Toyota for misleading customers about acceleration complaints in its cars, and it would defer prosecution in for a $1.2 billion fine, the in history against any automaker. The also said it would an independent monitor to review safety processes and reporting for the next three years.

The ought to send chills the halls of General Motors Motors. which is facing its own probe for failing to promptly customers of safety concerns in its

The $1.2 billion fine the paltry $$66.15 million Toyota has been assessed in penalties by the National Highway Safety Administration for untimely

U.S. officials were in announcing Toyota’s culpability in the involving “sticky” accelerator and floor mats that headlines in 2009 and 2010, the once-vaunted automaker off its pedestal and its CEO, Akio Toyoda. to to apologize.

“In its zeal to stanch bad in 2009 and 2010, Toyota regulators, misled customers, and misstated the facts to Congress” U.S. Attorney Preet “Even while giving assurances that it had fully a grave safety problem, knew full well the problem of unwanted acceleration

In a statement, Toyota was contrite, but that the problems that led to the crisis are now behind it. “At the time of recalls, we took full for any concerns our actions may have customers, and we rededicated ourselves to their trust,” said P. Reynolds, chief legal Toyota Motor North “In the more than four since these recalls, we gone back to basics at to put our customers first.”

Toyota Fine-S

Reynolds continued: “We have fundamental changes across our operations to become a more company – listening better to our needs and proactively taking to serve them. Specifically, we taken a number of steps have enabled us to enhance control, respond more to customer concerns, strengthen autonomy and speed decision-making. we’re committed to continued in everything we do to keep building in our company, our people and our products. Toyota addressed the sticky and floor mat entrapment issues effective and durable solutions, and we behind the safety and quality of our

“Entering this agreement, difficult, is a major step putting this unfortunate behind us. We remain extremely to our customers who have continued to by Toyota. Moving forward, can be confident that we continue to our responsibilities to them seriously,” concluded.

As part of Toyota’s to the crisis, it created a $50 million Safety Research Center in Ann Mich. to partner with and others on safety advances it will share across the It also enhanced the autonomy of in different regions of the world, naming the first American CEO of North American Region as as Chief Quality Officers for America and other principal – all of whom have direct to President Akio Toyoda.

Toyota will record billion in after-tax charges earnings in the fiscal year March 31, 2014 for costs to the above agreement.


Toyota Fine-S
Toyota Fine-S
Toyota Fine-S

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