Toyota saves $100 million
Toyota after a spree of calling back its Prius and other hybrid models had to recall its Camry and Lexus ES model fro the problems of sudden acceleration. Earlier it had recalled millions of its cars for the same problem.
But this time Toyota claims it has saved $100 million after a negotiation with the regulators for the limitation of the Camry and Lexus recall.
In only the Prius recall, their erstwhile no. 1 selling hybrid car, the company has estimated that the recalls would be costing them a hefty $ 2 billion, which include repairs and a decline in sales.
Toyota, till date has already announced 8 million of its cars for recalls, worldwide and the major reason behind this being the sticky accelerator pedals.
In, the Toyota's document to Congress, it had said that the National Highway Traffic Safety Administration had become more vulnerable the public criticism, which ultimately resulted in more recalls and more investigations. People from the NHTSA are leaving no stone unturned to see that Toyota do what is required.
