Toyota to pay up to $3.4 billion to settle U.S. truck lawsuit
ASSOCIATED PRESS
Toyota will pay up to $3.4 billion to settle a class action lawsuit brought by U.S. pickup truck and SUV owners whose vehicles lacked adequate rust protection.
WASHINGTON >> Toyota will pay up to $3.4 billion to settle a class action lawsuit brought by U.S. pickup truck and SUV owners whose vehicles lacked adequate rust protection.
Court filings show that the settlement reached on October 31 covers 1.5 million vehicles, dealing a financial blow to the Japanese automaker whose trucks were subject to corrosion that could harm their structural integrity. The settlement applies to Tacoma trucks made from 2005 to 2010, Sequoias from 2005 to 2008 and Tundras from 2007 to 2008.
The settlement estimates the value of replacing the frame at roughly $15,000 per vehicle. Under the settlement, Toyota will inspect vehicles for 12 years from their initial sales or lease date to decide if the owner is eligible for a replaced frame or reimbursement.
2 responses to “Toyota to pay up to $3.4 billion to settle U.S. truck lawsuit”
Leave a Reply
You must be logged in to post a comment.
Its all about what you can get away with. Japan, Inc. has lost its way. Sony, Toshiba, Olympus, Sharp, Takata, and more.
Toyota is not the company they used to be. Getting big and so dominant got to their head and they have lost their way. Not sure they realize how far they have fallen.
Too bad because they used to be a very good company who made quality, job one. Becoming arrogant and full of themselves is one of the more negative character traits and
tendencies of people from that country. This has always led to their downfall.