Late safety recalls cost Toyota record fines
Submitted by cas on Wed, 06/29/2011 - 2:05pm
Toyota Motor Corp. agreed Monday to pay $32.4 million in federal fines, settling two federal investigations that found the automaker delayed recalling nearly 6 million vehicles.
Toyota's board of directors agreed to pay the maximum fine in two separate investigations by the National Highway Traffic Safety Administration.
Toyota will pay $16.4 million after NHTSA said the Japanese automaker delayed its recall of nearly 5 million vehicles for pedal entrapment and will pay $16 million after the agency said it delayed a 2005 recall of 980,000 million 4Runners and pickups for faulty steering rods that could lead to loss of steering control.
Click here for the full article from The Detroit News
