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News Breaks | | | | December 27, 2012 | | 05:37 EDT |  | TM | Toyota announces $1.1B economic loss settlement for recalls
Toyota Motor North America announced an agreement to resolve economic loss litigation in the U.S. related to previous recalls. If this economic loss settlement is approved, Toyota will launch a new customer-support program that will provide prospective supplemental coverage for certain vehicle components and will retrofit additional non-hybrid vehicle models subject to the floor mat recall with a free brake override system to provide an added measure of confidence. Toyota will offer cash payments to eligible customers who sold or turned-in their leased vehicles in a period during 2009-2010, as well as other specified persons, and to eligible current owners and lessees who will not be offered a free brake override system. Toyota announced that it will take a one-time, $1.1B pre-tax charge against earnings to cover the estimated costs of the economic loss settlement and possible resolution costs of civil litigation brought in California by the District Attorney of Orange County and an investigation by a multi-state group of Attorneys General stemming from previous recalls. | |
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News For TM From The Last 14 Days Check below for free stories on TM the last two weeks. |
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| May 14, 2013 | | 15:50 EDT |  | TM | Toyota class-action settlement could cover 22M former owners, Detroit News says
 Subscribe for More Information | | | May 10, 2013 | | 07:09 EDT | | TM | Toyota helped by weaker yen, Bloomberg reports
Toyota’s years of fighting the yen is over, at least for now. The weakening yen breached 100 against the dollar in U.S. trading yesterday, opening the way for Japan to emerge from an unprecedented and largely uninterrupted five-year stretch where the currency’s appreciation beyond that level roiled exporters and their ability to sell cars and other products abroad, reports Bloomberg.Reference Link | | | 06:10 EDT | | TM | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | May 9, 2013 | | 05:59 EDT | | TM | GM: Most Silverado truck sales this year will be older model, Bloombeg reports
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