Toyota Motor Co. is recalling almost 1.3 vehicles globally for two different defects according to a report by Reuters. Over 752,000 Corollas and Corolla Matrix vehicles in the U.S. will be recalled to fix airbag issues that have been causing them to deploy inadvertently.
This is the third major Toyota recall since October alone to involve over a million vehicles. The company is still trying to recover from a "damaged reputation" following a number of recalls that took place between 2009 and 2011 that were due to unintended acceleration issues according to Reuters.
Toyota will also be recalling Corolla and Corolla Matrix models in Japan, Canada, and Mexico.
"While this cannot be ignored, this amount is not going to dent Toyota's operations and share prices are unlikely to be impacted much," said Koichi Sugimoto, a senior analyst at BNP Paribas in Tokyo.
An IC chip in the airbag control unit can reportedly malfunction when it receives electrical inference from other areas in the car. This is what Toyota has determined is causing the airbags to deploy when it isn't necessary according to Toyota spokesman Naoto Fuse.
Toyota has yet to reveal the costs involved with their latest recall. The impact from the airbag recall will probably cost the company approximately $55 million according to Koichi Sugimoto, a senior analyst at BNP Paribas in Tokyo.
TRW Automotive Holding Corp. has manufactured airbag control units in vehicles for years, but the chip that Toyota is having issues with is supplied by another company according to Reuters.
Toyota will also be recalling over 385,000 Lexus IS vehicles, including over 270,000 models in the U.S. over wiper issues. The wiper arm nut located in the front wiper of these models may not be tight enough according to the company, which would cause the wiper to not work in certain weather conditions, including but not limited to snow and rain.
The company stated they will repair the issue at your local Toyota dealership. The process should take around 30 minutes.
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