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| Toyota rues Prius brake 'clash' | Toyota rues Prius brake 'clash' |
| (20 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. |
| The admission came on top a worldwide recall of almost 8 million cars due to floor mat and pedal problems. | The admission came on top a worldwide recall of almost 8 million cars due to floor mat and pedal problems. |
| 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." |
| Profits surge | 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: STORY SO FAR September 2007, US: 55,000 Camry and Lexus cars in floormat recallOctober 2009, US: 3.8m Toyota and Lexus vehicles recalled due to floormat problemNovember 2009, US: floormat recall increased to 4.3m vehiclesJanuary 2010, US: 2.3m Toyota vehicles recalled due to accelerator pedal problems (Of those, 2.1m already involved in floormat recall)January 2010, US: 1.1m Toyota's in floormat recallFebruary 2010, Europe: 1.8m Toyota's in pedal recallFebruary 2010, Japan, US: 180 reports of brake faults in new Prius. None recalled Q&A: Toyota recalls | TOYOTA RECALLS: STORY SO FAR September 2007, US: 55,000 Camry and Lexus cars in floormat recallOctober 2009, US: 3.8m Toyota and Lexus vehicles recalled due to floormat problemNovember 2009, US: floormat recall increased to 4.3m vehiclesJanuary 2010, US: 2.3m Toyota vehicles recalled due to accelerator pedal problems (Of those, 2.1m already involved in floormat recall)January 2010, US: 1.1m Toyota's in floormat recallFebruary 2010, Europe: 1.8m Toyota's in pedal recallFebruary 2010, Japan, US: 180 reports of brake faults in new Prius. None recalled Q&A: Toyota recalls |
| 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. |
| Toyota UK's Scott Brownlee demonstrates the accelerator pedal problem | Toyota UK's Scott Brownlee demonstrates the accelerator pedal problem |
| 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. |
| 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. |
| ANALYSIS By Jorn Madslien, Business reporter, BBC News | ANALYSIS By Jorn Madslien, Business reporter, BBC News |
| Toyota Motor is on the verge of "capitulation to irrelevance or death". | Toyota Motor is on the verge of "capitulation to irrelevance or death". |
| Not my words, but those of Toyota president Akio Toyoda. | Not my words, but those of Toyota president Akio Toyoda. |
| He said it, not in response to the ongoing recalls of cars, but in a speech more than four months ago. | He said it, not in response to the ongoing recalls of cars, but in a speech more than four months ago. |
| The recalls have made the world aware of a variety of quality and safety problems that Toyota itself has known about for months. | The recalls have made the world aware of a variety of quality and safety problems that Toyota itself has known about for months. |
| The immediate result of the recalls has been immense damage to its already tattered reputation as a quality car maker. | The immediate result of the recalls has been immense damage to its already tattered reputation as a quality car maker. |
| The alternative - doing nothing - could have been even more damaging still. class="" href="/2/hi/business/8497428.stm">Toyota repairs to start next week | |
| 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. | 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. | 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. | 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. | 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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