Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Toyota unit Hino to freeze truck production for two models for a year - Nikkei

Published 09/03/2022, 04:35 PM
Updated 09/03/2022, 05:40 PM
© Reuters. FILE PHOTO: Hino Motors' logo is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 27, 2017. REUTERS/Kim Kyung-Hoon

(Reuters) -Japan's Toyota Motor (NYSE:TM) Corp's truck and bus unit Hino Motors will halt production of some medium and heavy-duty trucks for at least another year after a widespread data falsification scandal, Nikkei Asia reported on Sunday.

The medium-duty Ranger and the heavy-duty Profia truck will not be produced until August 2023, the report added

Halting production of some truck models is the latest sign of the scandal worsening for Hino since it first announced the data falsification affecting some of its bigger trucks in March.

Since then, it has said it falsified data on some engines going back as far as 2003, at least a decade earlier than originally indicated. All told, about 640,000 vehicles have been affected, or more than five times the figure initially revealed.

Hino said last month it would suspend shipments of small trucks after a transport ministry investigation revealed that some 76,000 of its small trucks sold since 2019 had not been subject to the required number of engine tests.

Toyota and others involved in a commercial vehicle partnership have since expelled Hino from the group over falsification of engine data by the truckmaker.

The widening scandal at Japan's Hino Motors over falsification of engine data has become a headache that will not go away for parent Toyota which has a controlling 50.1% stake in Hino.

© Reuters. FILE PHOTO: Hino Motors' logo is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 27, 2017. REUTERS/Kim Kyung-Hoon

Hino became Toyota's subsidiary in 2001 and nearly all Hino presidents since then previously worked for Toyota.

Toyota did not immediately respond to a request for comment, and Hino could not immediately be reached.

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.