Continuing a recall crisis that could shake consumers' trust in the auto industry, Toyota Motor Corp. early today recalled almost 7 million vehicles globally including some of its most popular U.S.-market mdoels: RAV4s, Corollas, and more for various safety problems.
“We sincerely apologize to our customers for the inconvenience and concern brought by this recall announcement,” Toyota said in a statement about the vehicle recall. "Toyota has rededicated itself to strengthening its commitment to safety and quality."
Bloomberg reports that the recall of 6.76 million cars includes spiral cables that could prevent airbags from deploying and steering-column brackets that could fail.
The 6-million vehicle recall could cost Toyota north of $500 million dollars once all the repairs are made.
And of course it's on the heels of the General Motors ignition switch recall that has been a public relations disaster for the company.
Reuters reports that the vehicle recall includes 27 vehicles in total, including the Pontiac Vibe that Toyota manufactured.
Bloomberg also reminded that Toyota "agreed to pay $1.2 billion last month to end a U.S. probe of its attempt to hide safety defects in the largest criminal penalty imposed on an automaker in the U.S. The company admitted wrongdoing and submitted to reviews by an independent monitor that will assess its safety reporting practices."
Chrysler last week recalled some 800,000 vehicles.
Source: Toyota, Bloomberg, Reuters