Toyota to Pay Record $1.2 Billion Fine for Hiding Safety Issues

27 Май 2015 | Author: | No comments yet »
Toyota Fine-S

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Toyota Corporation, the world’s largest has agreed to pay a record fine of billion to the United States to a criminal investigation into issues. The settlement is a record-breaking levied against any automaker and serve as a template for how U.S. resolve a similar case General Motors.

In announcing the between Toyota and the U.S. Department, Attorney General Holder said the automaker admit to misleading consumers two different problems that some vehicles to uncontrollably

Today, we can say for certain that intentionally concealed information and the public about the safety behind these recalls, Holder.

The settlement ends a investigation into the extent to Toyota withheld information safety regulators about gas pedals and poorly fitting mats that caused acceleration.

The company recalled about 10 Toyota and Lexus vehicles as the became known, but continued to driver error and concealed the extent of the problems.

Holder the company protected its own brand of its customers. He said prosecutors to defer criminal charges Toyota, in exchange for allowing monitors to review its safety

Toyota Fine-S

The company will submit to review by an independent monitor will examine and assess the in which Toyota regularly safety issues to the public and its The $1.2 billion payment the largest criminal penalty on a car company in the history of the United This is appropriate given the of the deception carried out by Toyota in case, he said.

Hundreds of private lawsuits been filed against related to the unintended acceleration. year, the automaker agreed to pay than $1 billion to consumers who say vehicles lost value due to the

Toyota issued a statement it has made fundamental changes to its to become a more responsive

The settlement comes on the heels of a Motors recall of more 1.5 million vehicles for an ignition failure linked to dozens of


That automaker, the world’s largest, also faces a criminal investigation for delays in recalls.

Toyota Fine-S
Toyota Fine-S

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