Toyota recall sparks improvement pledge

26/11/09 20:46 CET

corporate

| |

Toyota has promised it will strive to make better cars following its biggest ever recall of four and a quarter million vehicles in the USA to fix faulty accelerator pedals.

The world’s number one carmaker is also to install automatic brake systems in some vehicles after some drivers reported their cars suddenly speeded up. The recall concerns eight models including the best-selling Camry, the luxury Lexus brand, and the iconic Prius hybrid. Toyota’s biggest previous recall was of one and a half million Hilux pickups, which began in Japan in 2004 before being extended worldwide. The present recall only concerns America where Toyota’s reputation for reliability and quality is taking a hit: “Unless something comes to light and we can be reassured that something has been fixed, then I probably would not buy a Prius again,” said one disgruntled American driver. Toyota insists the recall will not hit its bottom line as it is fully provided for in the warranty budget, and its shares have only fallen slightly with the news.More about: Car industry, Toyota, USA

| |

Greek coalition closer to agreement on bailout terms

After spending most of the day in talks with prime minister Lucas Papademos, Greece’s coalition party leaders have made some headway. They have agreed to all but one of the points negotiated with the troika of IMF and EU negotiators for the much-needed one hundred and thirty billion euro bailout…