Toyota announced today that it has reached a settlement with the Attorneys General of 29 states and one US territory that will resolve their complaints relating to recalls performed by the automaker from 2005-2010, including those related to sticky accelerators and malfunctioning floor mats that may have contributed to cases of unintended acceleration.
Sudden Unintended Acceleration
59Toyota proposes economic loss settlement worth up to $1.4 billion over unintended acceleration claims
Toyota announced a proposal today worth over a billion dollars to settle civil claims of economic loss related to alleged cases of sudden unintended acceleration in its vehicles from 2009-2010. Estimates place the cost of the settlement between $1.1 billion and $1.4 billion, which would, according to lawyers for the plaintiffs, make it the largest of its type in US history.
CNN revealed a confidential memo written in Japanese on the Anderson Cooper 360 show last night that it contends shows Toyota engineers found an electrical problem that caused sudden unintended acceleration in a pre-production test vehicle. The news organization commissioned three separate translations of the documents, though Toyota has objected to the accuracy of each.
Ever since the whole Toyota recall debacle exploded late in 2009, one of the company's biggest problems has been the way it has responded to the problems. Many have criticized Toyota for either ignoring the problems or pretending that there is nothing wrong, but the company is now seeking to address that appearance by setting up rapid response teams to deal with reported incidents of unintended acceleration.