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Toyota shares fall as woes mount | |
(about 7 hours later) | |
Shares in Toyota have fallen 6% as it continues to deal with the impact of worldwide car recall, and a possible new safety issue over its Prius model. | |
The Japanese giant is recalling millions of cars around the world following an accelerator pedal problem affecting seven of its models. | |
It was then also revealed that it is investigating separate reports of faulty brakes on its Prius hybrid car. | |
US authorities said they were looking at the possibility of fining Toyota. | |
Toyota is recalling up to 1.8 million cars across Europe, including 180,865 in the UK, over the problem of accelerator pedals sticking. These are on top of the millions of vehicles it is recalling in the US and Japan. | |
The seven models being recalled are the Aygo, iQ, Yaris, Auris, Corolla, Verso, and Avensis, and cover manufacturing dates going back to February 2005. | |
Toyota said it was not aware of any accidents resulting from the issue and that only 26 incidents involving accelerator pedals had been reported in Europe. | |
'Quickly as possible' | |
Toyota's UK spokesman Scott Brownlee denied that the firm had delayed the accelerator pedal recall in the UK. | |
UK RECALLED MODELS February 2005 - August 2009 AYGONovember 2008 - November 2009 iQNovember 2005 - September 2009 YarisOctober 2006 - 5 January 2010 AurisOctober 2006 - December 2009 CorollaFebruary 2009 - 5 Jan 2010 VersoNovember 2008 - December 2009 Avensis Q&A: Toyota recall | UK RECALLED MODELS February 2005 - August 2009 AYGONovember 2008 - November 2009 iQNovember 2005 - September 2009 YarisOctober 2006 - 5 January 2010 AurisOctober 2006 - December 2009 CorollaFebruary 2009 - 5 Jan 2010 VersoNovember 2008 - December 2009 Avensis Q&A: Toyota recall |
He told the BBC that although concerns were raised about vehicles in late 2008, they were a quality rather than a safety issue. | |
In an interview with the BBC Working Lunch programme, Mr Brownlee said that there had been reports in the winter of 2008 of a stiff accelerator pedal, but then the reports dried up from March. | In an interview with the BBC Working Lunch programme, Mr Brownlee said that there had been reports in the winter of 2008 of a stiff accelerator pedal, but then the reports dried up from March. |
The pedal was redesigned and began to be fitted in models from August. | The pedal was redesigned and began to be fitted in models from August. |
"The first indication we had of a problem that was going to be a safety issue was in late last year [2009]," he said. | |
The first reports came in the US in October and the UK in November, and Mr Brownlee said the recall had come "as quickly as possible" after that. | The first reports came in the US in October and the UK in November, and Mr Brownlee said the recall had come "as quickly as possible" after that. |
"We had to investigate to identify the cause of the problem to see if there was a common issue and identify how we could fix it," Mr Brownlee said. | "We had to investigate to identify the cause of the problem to see if there was a common issue and identify how we could fix it," Mr Brownlee said. |
'Feet to fire' | |
Toyota said that anyone in the UK who had suffered a problem with their accelerator pedal should call the company's hotline, and should not get the problem fixed independently. | |
Scott Brownlee: "This was originally a quality rather than a safety issue" | |
The first shipments of parts required will begin arriving in the UK next week and Toyota will be in a position to start repairing cars from 10 February. | The first shipments of parts required will begin arriving in the UK next week and Toyota will be in a position to start repairing cars from 10 February. |
The carmaker is also working with the UK's Driver and Vehicle Licensing Agency, and will write to car owners whose vehicles could be affected - a process that could take 10 days. This will also include owners who have bought the cars second-hand. | |
A website that would allow owners to check their vehicles registration number was also being developed. | A website that would allow owners to check their vehicles registration number was also being developed. |
In the US, American Transportation Secretary Ray LaHood said safety officials would "continue to hold Toyota's feet to the fire". | |
He repeated that his agency was studying the possibility of civil penalties against Toyota for safety violations, which could mean fines of millions of dollars for the company. | |
US-listed Toyota shares ended Wednesday trading down 6% or 4.69 cents to 73.49 cents, continuing the falls of recent days. | |
Prius complaints | |
To add to Toyota's woes, it revealed on Wednesday that it had "received complaints" about the brakes on the latest version of its Prius hybrid car in the US and Japan. | |
It said it was investigating the matter, and it would be "premature" to comment further at this stage. | |
However, its UK division said there had been no reported problems with the brakes on Prius cars in the UK and other parts of Europe. | |
The Prius had been unaffected by the sticking accelerator pedal problem. | |
Have you experienced similar problems with the accelerator of your Toyota? You can get in touch with us using the form below: | Have you experienced similar problems with the accelerator of your Toyota? You can get in touch with us using the form below: |
The BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide. Terms & Conditions | The BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide. Terms & Conditions |