NickF1011 Posted April 5, 2010 Share Posted April 5, 2010 From AP: WASHINGTON -- The U.S. Transportation Department says it is seeking the maximum penalty of $16 million against Toyota for failing to notify the government promptly about defective gas pedals among its vehicles. Transportation Secretary Ray LaHood says the department has evidence that Toyota knew of the problem with sticking accelerators in late September but did not recall cars until late January. The fine would be the largest civil penalty ever issued to an automaker by the government. Toyota has two weeks to accept or contest the $16.375 million penalty. Toyota has recalled more than 6 million vehicles in the United States and more than 8 million worldwide, because of acceleration problems in multiple models and braking issues in the Prius hybrid. :reading: Quote Link to comment Share on other sites More sharing options...
Mr. Gumby Posted April 5, 2010 Share Posted April 5, 2010 So Toyota saved $100 million by playing dirty with safety and is fined $16.4 million. Sounds like good business to me! </sarcasm> Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted April 5, 2010 Author Share Posted April 5, 2010 So Toyota saved $100 million by playing dirty with safety and is fined $16.4 million. Sounds like good business to me! </sarcasm> So they're still up $83.6 million! Oh wait, what did March incentive spending cost them? Quote Link to comment Share on other sites More sharing options...
TomServo92 Posted April 5, 2010 Share Posted April 5, 2010 So they're still up $83.6 million! Oh wait, what did March incentive spending cost them? Weren't they also losing something like $100million a week during the height of the pedal recall? All in all, it seems like they might be on the negative side of the ledger. Quote Link to comment Share on other sites More sharing options...
Monkey Posted April 5, 2010 Share Posted April 5, 2010 Toyota outdoes the big three again biggest fine ever to an auto manufacture. :happy feet: 1 Quote Link to comment Share on other sites More sharing options...
ford-boy Posted April 6, 2010 Share Posted April 6, 2010 I wonder how this will play in the 100's of court cases. I think lawyers will have a field day with this, especially if Toyota sent alerts to many OTHER countries but somehow, didn't think to include the USA. 1 Quote Link to comment Share on other sites More sharing options...
97svtgoin05gt Posted April 6, 2010 Share Posted April 6, 2010 They're going to pay out the wazoo for this, as they should. We still don't know the source of the issues. Once they figure that out and start making repairs AGAIN, the cash will continue to bleed. 1 Quote Link to comment Share on other sites More sharing options...
J-150 Posted April 6, 2010 Share Posted April 6, 2010 $16MM is nothing compared to what they will pay in punitive damages in the upcoming class-action lawsuits. 1 Quote Link to comment Share on other sites More sharing options...
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