Toyota is recalling about 880,000 sports utility vehicles (SUVs) and pick-up trucks around the world because of a defect in the front suspension that can cause steering problems.
Among the vehicles involved in the recall are the Tacoma, Tundra, Sequoia, Landcruiser Prado and 4Runner/Hilux Surf, built between May 2001 and December 2003.
Most of the recalled vehicles are from the U.S. with 789,000 of them being recalled in North America, 23,800 in Japan, 19,000 in Europe, and 12,000 in Australia. As BBC News reports,
The company recently reported a fifth year of record profits on the back of higher sales to the US and China.
Toyota is not the only Japanese vehicle maker that has had to recall vehicles. Profits at Mitsubishi Motors have tumbled and executives are still facing law suits amid allegations that they covered up defects for a number of years.
Only one accident involving one of the vehicles in question has been reported, and that was in Japan. Most of the vehicles being recalled from Japan are Hilux Surf and Landcruiser Prados.
Toyota shares fell 0.78% in morning trading ending at 3,820 yen. The shares went down about 0.8% in Tokyo after the recall announcement was made.
Chris is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.
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