//
you're reading...
News

Toyota Fined Again For Delaying Safety Reports

Originally posted on CBS Detroit:

DETROIT (WWJ/AP) – Toyota’s been fined again for a familiar problem: not reporting recalls quickly enough to government regulators and for delaying a safety recall.

“It is clear that the government is giving Toyota another hard slap on the wrist,” says Edmunds.com senior analyst Michelle Krebs.

The $17.4 million fine from the National Highway Traffic Safety Administration is for a June recall that was similar to Toyota’s issues a few years back: pedals stuck under the floor mats of Toyota’s Lexus luxury brand. About 154,000 of the 2010 Lexus Rx 350s and RX 450h models were recalled because the driver’s-side floor mats can trap the gas pedal and cause the vehicles to speed up without warning. The problem was similar to troubles from 2010 that prompted a series of embarrassing safety recalls by the company.

But, Krebs sees this fine indicating that the government is serious about enforcing new rules…

View original 262 more words

About these ads

About insiderhedge

A financial analyst by profession with a focus on value investing. Likes Benjamin Graham's investing style

Discussion

Comments are closed.

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 710 other followers

Tweets

Follow

Get every new post delivered to your Inbox.

Join 710 other followers