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| Toyota rues Prius brake 'clash' | Toyota rues Prius brake 'clash' |
| (30 minutes later) | |
| Troubled carmaker Toyota has admitted a software problem in the new Prius's brakes, but says it has now been fixed. | Troubled carmaker Toyota has admitted a software problem in the new Prius's brakes, but says it has now been fixed. |
| Toyota's managing officer, Hiroyuki Yokoyama, said the company had found a clash between the anti-lock brake system (ABS) and regenerative braking. | Toyota's managing officer, Hiroyuki Yokoyama, said the company had found a clash between the anti-lock brake system (ABS) and regenerative braking. |
| He added: "This issue shows that we may have fallen short of the standards expected of us by our customers." | He added: "This issue shows that we may have fallen short of the standards expected of us by our customers." |
| Toyota is recalling up to 1.8 million cars in Europe over a separate problem concerning faulty accelerator pedals. | Toyota is recalling up to 1.8 million cars in Europe over a separate problem concerning faulty accelerator pedals. |
| More than 180,000 cars are being recalled in Britain alone in the move, which follows a series of similar measures in the US and around the world. | More than 180,000 cars are being recalled in Britain alone in the move, which follows a series of similar measures in the US and around the world. |
| Profits surge | |
| Mr Yokoyama said the clash occurred under limited circumstances, including on frozen surfaces. | Mr Yokoyama said the clash occurred under limited circumstances, including on frozen surfaces. |
| As depressing the brakes further activated normal braking, the glitch was not legally a safety hazard. | As depressing the brakes further activated normal braking, the glitch was not legally a safety hazard. |
| Toyota recalls: the story so far September 2007, US: 55,000 Camry and Lexus - floormatOctober 2009, US: 3.8m Toyota and Lexus - floormatNovember 2009, US: floormat recall increased to 4.3m vehiclesJanuary 2010, US: 2.3m Toyota marques - pedal (2.1m already under floormat recall)January 2010, US: 1.1m Toyota marques - floormatFebruary 2010, UK, Europe: 1.8m - floormatFebruary 2010, Japan, US: 170 reports of brake faults in new Prius | |
| Toyota said it would notify drivers of its plans for specific steps in the near future to ease consumers' minds. | Toyota said it would notify drivers of its plans for specific steps in the near future to ease consumers' minds. |
| Mr Yokoyama would not say whether that would exclude an official recall. | Mr Yokoyama would not say whether that would exclude an official recall. |
| Earlier, Toyota, which is the world's biggest carmaker, reported a huge swing back into profit in the last quarter of 2009. | Earlier, Toyota, which is the world's biggest carmaker, reported a huge swing back into profit in the last quarter of 2009. |
| Its net income was 153 billion yen ($1.68bn; £1.06bn) after a loss of 164 billion yen a year earlier. | Its net income was 153 billion yen ($1.68bn; £1.06bn) after a loss of 164 billion yen a year earlier. |
| Toyota confirmed its estimate that it would lose about $2bn (£1.23bn) in costs and lost sales from its worldwide recall of potentially faulty vehicles. | Toyota confirmed its estimate that it would lose about $2bn (£1.23bn) in costs and lost sales from its worldwide recall of potentially faulty vehicles. |
| Toyota in the UK says it will be nearly a week before it can start repairs on cars with defective accelerator pedals. | Toyota in the UK says it will be nearly a week before it can start repairs on cars with defective accelerator pedals. |
| However, the firm said it still expected higher sales. | However, the firm said it still expected higher sales. |
| Its forecast last November was for sales of 7.03 million - and despite the heavy blow to the company's reputation, it now thinks it will sell 7.18 million in the next financial year. | Its forecast last November was for sales of 7.03 million - and despite the heavy blow to the company's reputation, it now thinks it will sell 7.18 million in the next financial year. |
| Back in the black | Back in the black |
| Toyota also says it will make a profit this year. It had been prepared for a loss - and that was before the crisis. | Toyota also says it will make a profit this year. It had been prepared for a loss - and that was before the crisis. |
| It added it had not yet worked out the cost of the latest reports of brake problems with the new Prius. | It added it had not yet worked out the cost of the latest reports of brake problems with the new Prius. |
| Richard Lister reports on a terrible week for the car company Toyota | |
| Shares in Toyota have hit their lowest level for 10 months on the Tokyo Stock Exchange with continuing concern about the safety of the company's vehicles. | Shares in Toyota have hit their lowest level for 10 months on the Tokyo Stock Exchange with continuing concern about the safety of the company's vehicles. |
| The firm has recalled more than eight million vehicles globally because of problems with defective accelerator pedals on seven models and a separate problem in the US - also acceleration-related - to do with pedals sticking in floor mats. | The firm has recalled more than eight million vehicles globally because of problems with defective accelerator pedals on seven models and a separate problem in the US - also acceleration-related - to do with pedals sticking in floor mats. |
| A day after falling 5.7%, Toyota shares fell a further 3.5% on the Tokyo Stock Exchange on Thursday morning and hit their lowest level for 10 months. | A day after falling 5.7%, Toyota shares fell a further 3.5% on the Tokyo Stock Exchange on Thursday morning and hit their lowest level for 10 months. |
| US-listed Toyota shares ended Wednesday trading down 6% or 4.69 cents to 73.49 cents, continuing the falls of recent days. | US-listed Toyota shares ended Wednesday trading down 6% or 4.69 cents to 73.49 cents, continuing the falls of recent days. |
| 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 | |
| The shares have now lost about 22% of their value since 21 January, when the company announced the recall of some 2.3 million vehicles in the US amid concerns that their accelerator pedals could become stuck. It is also recalling up to 1.8 million cars across Europe, including 180,865 in the UK. | The shares have now lost about 22% of their value since 21 January, when the company announced the recall of some 2.3 million vehicles in the US amid concerns that their accelerator pedals could become stuck. It is also recalling up to 1.8 million cars across Europe, including 180,865 in the UK. |
| The seven models being recalled in Europe are the Aygo, iQ, Yaris, Auris, Corolla, Verso, and Avensis, and cover manufacturing dates going back to February 2005. In the US, they are the RAV4, Corollas, Matrix, Avalons, Camrys, Highlander, Tundra, and Sequoia, and cover dates going back to October 2005. | The seven models being recalled in Europe are the Aygo, iQ, Yaris, Auris, Corolla, Verso, and Avensis, and cover manufacturing dates going back to February 2005. In the US, they are the RAV4, Corollas, Matrix, Avalons, Camrys, Highlander, Tundra, and Sequoia, and cover dates going back to October 2005. |
| The parts needed to repair the cars will not arrive in the UK until next week, with the first repairs scheduled for Wednesday. Toyota says the process, which should only be carried out by its dealers, takes about half an hour. | The parts needed to repair the cars will not arrive in the UK until next week, with the first repairs scheduled for Wednesday. Toyota says the process, which should only be carried out by its dealers, takes about half an hour. |
| The carmaker 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. | The carmaker 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. |
| 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: |
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