19th
April
2010
Ka-Ching: Toyota To Pay $16.4m On Monday. Or Not
posted in Car News Articles |
On April 5, the NHTSA levied their largest civil penalty in recorded history. $16,375,000 against Toyota,  because “they knowingly hid a dangerous defect for months from U.S. officials and did not take action to protect millions of drivers and their families.” When we reported that, people thought Toyota would just appeal and drag it out. Not so easy, said The Nikkei [sub]. Toyota is between a rock and a hard place: “Admitting to the charge could strengthen the cases of car owners suing the firm, while refuting it risks inflaming U.S. public opinion.”  Toyota found a way out.
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