Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Toyota recalls 2.9 million vehicles globally over airbags

Published 03/30/2017, 03:46 AM
Updated 03/30/2017, 03:46 AM
© Reuters. FILE PHOTO: Toyota Motor Co President Akio Toyoda speaks between the company's new Corolla Axio sedan and Fielder wagon at a line-off ceremony in Japan

© Reuters. FILE PHOTO: Toyota Motor Co President Akio Toyoda speaks between the company's new Corolla Axio sedan and Fielder wagon at a line-off ceremony in Japan

TOKYO (Reuters) - Toyota Motor Corp (T:7203) on Thursday said it was recalling a total of about 2.9 million vehicles in Japan, China, Oceania and other regions including its Corolla Axio sedan and RAV4 SUV crossover due to potentially faulty airbag inflators.

Fuji Heavy Industries (T:7270), the maker of Subaru cars, Mitsubishi Motors Corp (T:7211) and truck maker Hino Motors (T:7205) also recalled a total of about 240,000 vehicles in the domestic market over inflators made by Takata Corp (T:7312) which can explode after prolonged exposure to hot conditions.

At least 16 deaths have been linked to exploding Takata inflators, mainly in the United States, prompting the auto industry's biggest-ever global recall.

Global transport authorities consider Takata inflators containing the chemical compound ammonium nitrate to be unsafe if used without a drying agent, and have ordered all of the about 100 million on the market to be withdrawn.

The Japanese automakers said that the latest recalls were part of a wider recall of Takata inflators ordered by global transport authorities last year.

Toyota said that recalls were issued for about 1.16 million vehicles sold in Oceania, the Middle East and the automaker's smaller markets, nearly one-third of total, while about 750,000 vehicles had been recalled in Japan.

Vehicles sold in North America, Toyota's biggest market, were exempt from the latest recall, it added.

Takata is currently seeking a financial sponsor to help pay for the costs related to the recalls. Last month, it pleaded guilty to a U.S. felony charge as part of a $1 billion settlement over its faulty inflators.

© Reuters. FILE PHOTO: Toyota Motor Co President Akio Toyoda speaks between the company's new Corolla Axio sedan and Fielder wagon at a line-off ceremony in Japan

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.