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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…

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I am a leading authority on stock trading including Stocks, ETFs, Commodities and Currencies. He’s a published author at leading trading and investing websites


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