THE TOYOTA RECALL
Jan 28, BW(BLOOMBERG)
Toyota Motor Corp., the world’s largest carmaker, fell in Tokyo as it expanded a U.S. recall by more than 1 million vehicles to 5.35 million, adding to concerns its reputation for quality may be permanently tarnished.
The shares dropped 3.9 percent to 3,560 yen, capping a fifth day of declines, the longest losing streak since May 2009. The stock has dropped 15 percent since Jan. 21, when Toyota announced a separate recall of 2.3 million U.S.-built vehicles after finding a pedal flaw linked to unintended acceleration.
Jan 27
All in all 8 models have stopped production across US plants
Toyota’s market capitalization has fallen to about 12.3 trillion yen ($136 billion) from about 12.9 trillion yen on Sept. 15, when it notified U.S. dealers to inspect how floor mats are installed on models after four people were killed in an accident. Today’s trading volume of 38.6 million shares was a record for the stock, according to data compiled by Bloomberg.
Models
The company said Jan. 26 it would suspend the U.S. sale and production of eight models involved in the Jan. 21 recall. Those models account for more than half its deliveries in the country and include its top-selling Camry and Corolla cars.
Models that were added yesterday to the November recall are 2008-2010 Highlander sport-utility vehicles; 2009-2010 Corolla compact cars; 2009-2010 Venza wagons; and the 2009-2010 Toyota Matrix hatchback. General Motors Co.’s 2009-2010 Pontiac Vibe, a version of the Matrix, is also to be recalled, said Martha Voss, a Toyota spokeswoman.
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