Toyota to pay $32.4 million in extra fines

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Thread: Toyota to pay $32.4 million in extra fines

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    Toyota to pay $32.4 million in extra fines

    Toyota to pay $32.4 million in extra fines
    Latest settlement brings total penalties levied by U.S. to $48.8 million

    By KEN THOMAS, Associated Press

    WASHINGTON Toyota Motor Corp. has agreed to pay the government a record $32.4 million in additional fines to settle an investigation into its handling of two recalls at the heart of its safety crisis, the Department of Transportation announced late Monday night.

    The civil penalties will settle investigations into how Toyota dealt with recalls over accelerator pedals that could get trapped in floor mats and steering relay rods that could break and lead to drivers losing control.

    The latest settlement, on top of a $16.4 million fine Toyota paid earlier in a related investigation, brings the total penalties levied on the company to $48.8 million. It caps a difficult year for the world's No. 1 automaker, which recalled more than 11 million vehicles globally since the fall of 2009 as it scrambled to protect its reputation for safety and reliability.

    Toyota's board of directors agreed to pay the fines on Tuesday at the company's board meeting in Japan. However, that does not free Toyota from potential civil and criminal penalties in private lawsuits and other federal investigations.

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    Last edited by zete; 12-20-2010 at 11:12 PM. Reason: Formatted for news article consistency
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    Re: Toyota to pay $32.4 million in extra fines

    I don't think the fines were heavy enough.
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    Re: Toyota to pay $32.4 million in extra fines

    Hopefully Toyota learns their lesson, being number one comes with a huge responsibility not just profits.

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    Re: Toyota to pay $32.4 million in extra fines

    It's not the fines they need to worry about. it's the civil suits to follow. Generally, if the government finds you guilty of something, when you're sued for the same thing in civil court it's a guaranteed loss.

    Toyota needs to worry about law suits now...
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    Re: Toyota to pay $32.4 million in extra fines


    And I thought that this whole affair was over and that Toyota was exonerated by proclamation?

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    Re: Toyota to pay $32.4 million in extra fines

    And I thought that this whole affair was over and that Toyota was exonerated by proclamation?
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    Re: Toyota to pay $32.4 million in extra fines

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    Re: Toyota to pay $32.4 million in extra fines

    That mean old government - maybe they'll take their junk and go home in retaliation.
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    Re: Toyota to pay $32.4 million in extra fines

    Toyota has the easy part here. It's those that lost a loved one that really suffered. Toyota was stupid for letting it get this far.
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    Re: Toyota to pay $32.4 million in extra fines

    It's a good news day!

    I still don't think this will teach them a lesson though.
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    Re: Toyota to pay $32.4 million in extra fines

    This link tells the story on the reason for this fine......do the link and watch the video of the boys dad and Toyota cover-up.

    http://abcnews.go.com/Blotter/Runawa...&tqkw=&tqshow=

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    Re: Toyota to pay $32.4 million in extra fines

    Quote Originally Posted by a bum in a bus View Post
    this link tells the story on the reason for this fine......do the link and watch the video of the boys dad and toyota cover-up.

    http://abcnews.go.com/blotter/runawa...&tqkw=&tqshow=
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    Re: Toyota to pay $32.4 million in extra fines

    This is a ploy by the US government to undermine the competition for the automaker they currently own (at least 1/3 of). Hopefully some of this money will be put towards a better interior on the Camaro, Corvette, and a 5 door manual transmission Cruze.

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    Re: Toyota to pay $32.4 million in extra fines

    Quote Originally Posted by smithb View Post
    This is a ploy by the US government to undermine the competition for the automaker they currently own (at least 1/3 of). Hopefully some of this money will be put towards a better interior on the Camaro, Corvette, and a 5 door manual transmission Cruze.
    I highly doubt Bush-motors is behind this.
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    Re: Toyota to pay $32.4 million in extra fines

    What bothers me is that in Japan they just will view this as a cost of doing business. No one will learn anything.

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