Results tagged “Recall” from Biz Waves

If there's some sort of glitch in Toyota's vehicle computer systems, this could devastate the carmaker as it tries to recover from the recession. But it's too early to say what the problem is. Plus Toyota is a powerhouse that may be able to recover quickly, even from the worst possible scenario involving its reent 3.8 million vehicle recall.

Toyota Executive Denies "Cover Up" In Probe of Runaway Cars

A senior Toyota executive denied today allegations the company is trying to cover up the cause of an estimated 2,000 reports of so-called runaway cars that experience sudden surges of acceleration.

"It is not part of the Toyota culture and Toyota way to cover up anything," said Yukitoshi Funo, one of Toyota's five executive vice-presidents at its Tokyo headquarters.

Read more on Toyota's acceleration problem.

Toyota is one step closer to getting past this PR nightmare. And as Toyota officials have said, the tragedies connected to the gas pedals jamming shines light on vehicle floor mat safety.

Toyota warns 3.8M of floor mats

(Detroit News) Washington -- Toyota Motor Corp. began mailing notices this week to 3.8 million vehicle owners, urging them to remove their floor mats while it seeks a remedy for reports of sudden, unintended acceleration.

Toyota hasn't determined the factors behind a number of accidents, including the Aug. 28 wreck of a Lexus ES-350 in which an off-duty California Highway Patrolman and three others died.

Read more on Toyota's recall.

The cost in bad PR is probably higher than the actual price tag for fixing the gas pedals.

Toyota may spend $440 million on U.S. recall: media

Tokyo (Reuters) - Toyota Motor Corp may need to spend about 40 billion yen ($440 million) to fix the accelerator pedals on 3.8 million cars being recalled in the United States, the Tokyo Shimbun newspaper reported on Wednesday.

Read more on Toyota's recall.