U.S. Slaps Toyota With Record Fine
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.
The Transportation Department says the $16.375 million fine is for the “sticky pedal” acceleration issue only. Regulators are still investigating and weighing further penalties.
The National Highway Traffic Safety Administration has never issued a larger civil penalty against an automaker. — PZS