Eleven accidents prompt US Toyota recall
Friday, 19 Jan 2007 09:22
Toyota recalled over half a million vehicles Japanese carmaker Toyota has recalled more than half a million vehicles in the US after a steering problem was believed to have been involved in 11 accidents.
The car maker is recalling 533,000 2004 to 2006 Tundra trucks and 2004 to 2007 Sequoia sport utility vehicles. Spokesman Bill Kwong confirmed the recall, stating that there have also been six injuries thought to be linked to the announcement.
There has been no mention of the financial hit that Toyota will take over the recall, but Bloomberg estimated that the recall and repair of the vehicles will cost the company in excess of $250 million (£130 million).
Recall costs are not expected to impact the company's earnings. According to reports, the company has a special fund set up to finance the cost of recalls.
Mr Kwong has explained the problem with the recalled models is due to excessive wear to a lower ball joint in the front suspension. The excessive wear makes the vehicles hard to steer, meaning drivers will find it difficult to control the vehicle.
Last year Toyota, the world's number two carmaker, recalled 766,000 vehicles, a significant drop from the 2.2 million vehicles recalled in 2005.
Friday, 19 Jan 2007 09:22
Toyota recalled over half a million vehicles Japanese carmaker Toyota has recalled more than half a million vehicles in the US after a steering problem was believed to have been involved in 11 accidents.
The car maker is recalling 533,000 2004 to 2006 Tundra trucks and 2004 to 2007 Sequoia sport utility vehicles. Spokesman Bill Kwong confirmed the recall, stating that there have also been six injuries thought to be linked to the announcement.
There has been no mention of the financial hit that Toyota will take over the recall, but Bloomberg estimated that the recall and repair of the vehicles will cost the company in excess of $250 million (£130 million).
Recall costs are not expected to impact the company's earnings. According to reports, the company has a special fund set up to finance the cost of recalls.
Mr Kwong has explained the problem with the recalled models is due to excessive wear to a lower ball joint in the front suspension. The excessive wear makes the vehicles hard to steer, meaning drivers will find it difficult to control the vehicle.
Last year Toyota, the world's number two carmaker, recalled 766,000 vehicles, a significant drop from the 2.2 million vehicles recalled in 2005.