Toyota Completes Payment Of Record Fine

Toyota Motor Corp. has paid a $16.4 million fine to settle allegations by U.S. regulators that the company was too slow to recall vehicles with defective gas pedals.

The civil penalty payment, the maximum allowed under auto safety regulations, came two days before Toyota's U.S. sales chief, Jim Lentz, was expected to appear before a congressional committee investigating Toyota recalls.

2011 BMW New Product Showcase

2011 BMW 5-Series USA Production Photo Gallery

2010 Hyundai Tucson Photo Gallery

2010 Beijing Motor Show Photo Gallery

2011 Ford Fiesta Photo Gallery

2011 MB E-Class Conv. Photo Gallery

2011 BMW X5 Photo Gallery

AutoSpies.com Photo Galleries

If you want to see your photos running on our homepage photo ticker, be sure to upload your photos on the go by sending them to Mobile@AutoSpies.com

Share on Facebook

Read Article

F005 - 5/18/2010 3:35:42 PM

+3 Boost

It is unfortunate that several years ago Toyota has decided to prioritize profitability & market dominance over quality. They are now trying to move their products out of dealers’ doors by offering aggressive price incentives. Toyota was not like that, and I am afraid what they are doing right now may damage their precious brand image even further.

kpaxx - 5/18/2010 3:50:18 PM

+2 Boost

Toyota is the new OLD GM!

kpaxx - 5/18/2010 3:52:27 PM

+3 Boost

However, there still might be a second fine! Which there should be!

http://www.egmcartech.com/2010/05/10/lahood-toyota-making-progress-towards-safety-second-fine-still-possible/

Agent009 - 5/18/2010 4:44:03 PM

-2 Boost

They are not out of the woods yet. The fine is for each case and so far there is at least one other smoking gun.

acronis - 5/18/2010 8:10:14 PM

+5 Boost

Meh, for a Mega Trillion dollar company like Toyota, that is a mere 37 minutes, and 25 seconds of earnings.

Barley made their radar blip.

clsboy - 5/19/2010 1:15:55 AM

+2 Boost

Sooooo.. where does all the money go??..