U.S. auto regulators have decided to fine Toyota a maximum $16.375 million, having determined that the car company waited “at least four months” to recall its troubled vehicles. Toyota can contest the fine, which, although a record, amounts to a tiny fraction of the total financial impact of recalling some 8 million vehicles worldwide. (continued)
It’s not quite the 8 million vehicles that Toyota has had to swallow, but the next-biggest Japanese automaker announced a recall of its own. Honda is calling 410,000 Odyssey and Element vehicles sold in the U.S. back to the farm to address brake issues.
The brakes on the 2010 Toyota Prius have prompted a U.S. government investigation and a possible third recall for the troubled automaker, if a report in Japan’s biggest business newspaper is to be believed. (continued)