Toyota agrees to maximum fine of $32.4m

• Source: Global Times
• [08:40 December 22 2010]
• Comments

Toyota Motor Co has agreed to pay a fine of $32.4 million, the maximum amount possible under two probes launched by the US into the handling of a massive vehicle recall from Toyota, which was once famed for its impeccable quality track record.

The settlements conclude a tumultuous year for the world's largest carmaker after the recalls of 11 million vehicles in the US and the disclosure of safety problems blamed by advocates for hundreds of crashes and dozens of deaths.

Toyota said it agreed to the National Highway Traffic Safety Administration fines without admitting any illegal transgression.

"Toyota is pleased to have resolved these legacy issues related to the timeliness of prior recalls dating back to 2005," AFP quoted Steve St. Angelo, Toyota's chief quality officer for North America, as saying Tuesday.

"I am pleased that Toyota agreed to pay the maximum possible penalty and I expect Toyota to work with us in the future to ensure consumer safety," Transportation Secre-tary Ray LaHood said in a statement Monday.

These latest fines raise the total amount Toyota has agreed to pay to US regulators this year to almost $50 million, including a $16.4 million fine - also the maximum allowed - in April, Reuters said.

That earlier fine concerned allegations that Toyota had failed to notify the government in a timely manner about gas pedals that would fail to snap back into position when pressed, remaining stuck.

Toyota said separately Tuesday that it planned to boost its group-wide global vehicle sales by 3 percent to 8.61 million units in 2011, led by a 9 percent growth in the US to 1.9 million vehicles.

Agencies