Toyota Agrees To Payout $3 Billion To Owners Of Rust Bucket SUV And Pickups

Toyota Motor Corp. has agreed to pay more than $3 billion to compensate owners of trucks with frames that are likely to rust through.

The payouts will go to approximately 1.5 million owners of certain Tacoma, Tundra and Sequoia trucks under the agreement approved by U.S. District Judge Fernando M. Olguin in a Los Angeles court on Wednesday. The proposed settlement includes Toyota Tacomas from model years 2005-2010, Tundras from model years 2007-2008 and Sequoia vehicles from model years 2005-2008.