Toyota Settles With NHTSA For $32.425 Million On Recall Timeliness

Toyota Motor Corporation has reached two settlement agreements with the National Highway Traffic Safety Administration related to the timeliness of recalls conducted by the company in 2005 to address potential concerns with steering relay rods and from 2007 to early 2010 to address the potential for pedal entrapment by unsecured, incompatible or improperly installed floor mats. Toyota has agreed to pay $32.425 million as part of these settlements, without admitting to any violation of its obligations under the U.S. Safety Act.