Toyota Issues Huge Recall Over Accelerator Risk
STEVE INSKEEP, host:
NPR's business news starts with a big recall by Toyota.
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INSKEEP: It is Toyota's biggest recall ever in the United States and it involves 3.8 million vehicles in this country, including the Prius in my driveway. It comes after a horrific accident last month involving a Lexus and other reports of crashes due to uncontrolled acceleration. Toyota has identified the problem as an unsecured floor mat that can jam the accelerator pedal when it moves. It's advising customers to remove the floor mats from eight different Toyota and Lexus models manufactured in the last six years. That includes the Camry and the Prius.
RENEE MONTAGNE, host:
The Japanese carmaker is already struggling to overcome the global sales slump. Analysts estimate that recall could cost Toyota fifty to a hundred million dollars. That's not a huge amount for the company and its share price fell less than one percent. The bigger worry for Toyota is the damage to its image.