Toyota to pay $16.4 million fine, recall Lexus SUV | Reuters

23 Мар 2015 | Author: | No comments yet »
Toyota Fine-S

Toyota to pay $16.4 million recall Lexus SUV

A port inspects newly arrived made Toyota Land SUVs at the port of Manila 14, 2010.

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(Reuters) — Toyota Corp has agreed to pay a record million fine to U.S. regulators to settle a complaint the company delayed a recall defective accelerator pedals, but violating U.S. regulations.

The on Monday also recalled the Lexus GX 460, a luxury SUV influential magazine Consumer warned last week was a risk because of a potential problems in turns.

Toyota its own testing confirmed the problem and it would fix the electronic stability system’s software in about Lexus GX 460 vehicles sold in the market.

The recall is the latest in a series of and incidents that have Toyota’s once market-leading for quality.

Toyota had estimated in that the previous recalls cost it $2 billion for its fiscal ending in March, but it has recalled vehicles since that and not provided any further updates. analysts believe the costs be significantly higher.

Delays by U.S. regulators in a January of 2.3 million vehicles due to defective pedals led to the record fine.

said it had made a good effort to handle safety but decided to pay the penalty — the allowed by U.S. law and the largest the has ever sought — to a protracted dispute and possible

We did not try to hide a defect to avoid with a safety problem, said in a statement.

U.S. Secretary Ray LaHood said had put consumers at risk by failing to safety problems related to the accelerator pedals and the department’s continued.

The department’s actions may provide further ammunition to lawyers looking to bolster claims against Toyota, has recalled more than 8 vehicles worldwide for accelerator defects and ill-fitting floormats could cause unintended

On Friday, Toyota also 870,000 Sienna minivans in North America since the model year because of a that the spare tire drop into the road.

appears to be settling in for a long fight, Gimme Credit Craig Hutson said.

We the combination of legal costs, marketing costs, increased and all that could easily be of the $2 billion in costs for the 2010 that Toyota has forecast, said.

Toyota Fine-S

Toyota faces lawsuits alleging consumer and personal injuries over acceleration in its vehicles. The company’s of safety issues is also investigation by the U.S. Securities and Commission and a grand jury in New


Some lawyers estimate faces potential civil of more than $10 billion in courts.

The recent addition of for full refunds to U.S. of recalled Toyota vehicles as of consumer protection cases in 12 states could raise the stakes even higher for the car

The fine related specifically to the National Highway Transportation and Administration’s allegations that it to notify the agency for four about a defect in accelerator that were sticky and to return.

The U.S. regulator in proposing the fine that own records showed that it had repair notices for the pedal in Canada and Europe in September, but did not action in the U.S. market January.

Automakers are required to tell safety regulators within days if they determine a defect exists.

U.S. regulators continue to review statements and more than pages of Toyota documents to whether the automaker has complied all its legal obligations and have that additional fines are

Toyota’s shares fell 31 to $79.06 on the New York Stock late Monday afternoon.

reporting by John Crawley in and David Bailey in Detroit; by Maureen Bavdek, Richard and Leslie Gevirtz )

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