Toyota Announces Massive Recall, Halt to Sales
The Japanese automaker announced that 2.3 million cars, trucks and SUVs would be subject to recall for an accelerator pedal problem.
Kiplinger News
Toyota's multimillion-vehicle recall was the direct result of pressure from U.S. government officials.
The Japanese automaker announced that 2.3 million cars, trucks and SUVs would be subject to recall for an accelerator pedal problem. Toyota also announced that sales of the vehicles would be suspended immediately and production would stop on the week of February 1.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
"The reason Toyota decided to do the recall and to stop manufacturing is that we asked them to," Transportation Secretary Ray LaHood said in an interview with Chicago radio station WGN.
National Highway Traffic and Safety Administration official David Strickland added that the company's decision "was legally and morally the right thing to do." The NHTSA reportedly pressured Toyota into suspending sales of the afflicted vehicles.
Toyota was once touted as an exemplar of quality auto building, but its star has fallen in recent years. A spate of recalls in the middle of the 2000s dinged its sterling reputation, and Toyota cars' design integrity was called into question after a November recall of 3.8 million vehicles for a floor mat issue.
The latest recall announcement -- in concert with an expansion of the floor mat recall announced this week -- may drive Toyota shoppers elsewhere. General Motors, for its part, is offering $1,000 discounts to buyers who trade in Toyotas.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
-
Stock Market Today: It's 'All Sectors Go' Ahead of Independence Day
The resilience trade continues to work, even for sectors and stocks with specific uncertainties.
-
Nissan Recalls Over 440,000 Vehicles for Risk of Engine Failure
Hundreds of thousands of cars are being recalled over safety concerns. Here's how to check if your vehicle is affected and what steps to take next.
-
Amazon Resale: Where Amazon Prime Returns Become Your Online Bargains
Feature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
Roth IRA Contribution Limits for 2025
Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
-
Four Tips for Renting Out Your Home on Airbnb
real estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute Vacation
Travel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How Much Life Insurance Do You Need?
insurance When assessing how much life insurance you need, take a systematic approach instead of relying on rules of thumb.
-
When Is Amazon Prime Day? Everything We Know So Far, Plus Early Deals
Amazon Prime Here are the key Amazon Prime Day dates and details you need to know, plus some of our favorite early deals to shop ahead of the sale.
-
How to Shop for Life Insurance in 3 Easy Steps
insurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
-
Five Ways to Shop for a Low Mortgage Rate
Becoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.