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Toyota Fined For Failing To Quickly Report Safety Problems

CBS Dallas / Fort Worth

DETROIT (AP) — The U.S. government has slapped Toyota Motor Corp. with a record $17.4 million fine for failing once again to quickly report problems to federal regulators and for delaying a safety recall.

The fine from the National Highway Traffic Safety Administration, the agency that monitors vehicle safety, is the maximum allowed by law. It’s the fourth fine levied against Toyota in the past two years for similar infractions, and it’s the largest single fine ever assessed against a car company over safety defects. In 2010, Toyota paid a total of $48.8 million in fines for three violations.

The latest infraction raises questions about whether the fines are big enough to deter automakers that withhold information from NHTSA, and whether the government agency can do enough to stop repeat offenses. The fine, announced Tuesday, is a tiny fraction of Toyota’s earnings. The company, which this year regained its position…

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About Nicholas Maithya

I am a writer focussing on disruptive technology, Fintech, Big Data and Internet of Things, Online Marketing trends, and investments. When I am not writing about these, I am probably in the gym working out, out and about with family, watching the news (basically business/technology) or soccer. That's why I do sometimes cover soccer-related stories.

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