Breaking News: Transportation Secretary Says, "Stop Driving Toyotas"
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Posted to Business on Wed Feb 03, 2010 at 12:48:56 PM EST (promoted by port1080). RSS.
Shares of Toyota Motors plummeted after the US Secretary of Transportation, Ray LaHood, advised consumers to immediately stop driving their car if it was one of the defective models. Toyota models with these defects are subject to unintended acceleration due to a manufacturer's defect. The problem is believed to impact 2.3 million cars in the United States and 4.5 million worldwide.
Toyota was previously excoriated in the press for sending new gas pedals and repair kits to manufacturing plants so that new cars could be immediately sold, rather than embargoed as unsafe. This meant that current owners were required to keep driving cars around that could randomly speed up and can't slow down.
Congressional hearings are continuing into this matter and the US government is considering fining Toyota -- saying the automaker had to be "pushed" to begin recalls. In the interim Toyota told Congress that it believes stories of "drivers losing control over acceleration as their cars race to 60 miles per hour or higher" were "sensational" and that sticky gas pedals may not be the sole cause of these incidents.
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