Record,Setting,Recall,Fine,Con car Record Setting Recall Fine Continues Toyotas Woes
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For the fourth time in two years, Toyota is facing majorfines for failing to issue a recall notice in a timely fashion. Imposed by theNational Highway Traffic Safety Administration, the fine is the single largestof its kind in US history, totaling $17.35 million, covering the delayedannouncement of a June recall for more than 150,000 Lexus luxury SUVs overpedal entrapment dangers that could lead to unintended acceleration.Along with the record setting fine, Toyota must also meetwith officials from the NTHSA each month for the next six months to givereports on any potential safety related defects that exist across their entirevehicle line, and on progress made to improve their recall notification process.If it is deemed necessary, the NTHSA also holds the right to extend themeetings for an additional six months.In issuing such a substantial penalty, The NHTSA is hopefulthat it will encourage Toyota to make the appropriate changes to avoidadditional fines in the future. With todays announcement, I expect Toyota torigorously reinforce its commitment to adhering to United States safetyregulations, said Transportation Secretary Ray LaHood in a statement. In 2010,Toyota paid a total of $48.8 million in civil penalties for three separate instancesof failing to issues recalls in an appropriate time, with each being themaximum allowable fine.Though Toyota failed to admit any wrong doing, the majorJapanese automaker did agree to fundamentally restructure their recallannouncing procedure, consolidating the responsibilities of their qualityassurance department and quickening reviews of safety issues that are received fromthe federal government. In a statement, chief quality officer for Toyota NorthAmerica said that We continue to strengthen our data collection and evaluationprocess to ensure we are prepared to take swift action to meet customers needs.We agreed to this settlement in order to avoid a time-consuming dispute.Despite its unprecedented size, the fine is unlikely toinflict any noticeable financial damage, as Toyota is projecting more than $9.7billion in profits this fiscal year, though the harm to the makers reputation couldreverberate for years. As the litany of safety issues continue to pile up,future buyers may choose to take their business elsewhere, to a company thatdoes not consistently produce vehicles with the potential to catch fire. Salesremained strong throughout the year however, as buyers loyal to the brandcontinued to show their support. 2012 has been a challenging year for Toyota, who will soonbecome the company with the most recalls issued for the third time in fouryears, taking the title back from last years dubious victor, Honda. In total,5.3 million vehicles have been recalled in the United States, more than 3million more than any other car maker. In October, Toyota announced its largestrecall in company history, affecting more than 7.4 million vehicles worldwide,including 2.5 million in the United States alone, over faulty power windowswitches that had the potential to overheat and catch fire.For owners of vehicles who have been affected by a recall, delayedor otherwise, it is important to take the appropriate steps to fix thesepotential dangers, as operating a vehicle with a known defect leaves youexposed to the constant threat of danger. Even minor defects have the potentialto cause serious accidents that can inflict life altering injuries. For victimsof such accidents, there are legal protections in place to help them back ontotheir feet. Through the help of an experience car accident lawyer, compensationcan be recovered from auto makers or negligent drivers to help mend damagesthat have been suffered.
Record,Setting,Recall,Fine,Con