Saturday, September 5, 2015   

Toyota misled and cheated customers, US says
(03-20 11:45)

Toyota Motor Corp. will pay US$1.2 billion to settle US accusations that it sought to cover up an accelerator problem in Toyota and Lexus vehicles tied to numerous accidents and deaths.
The US Justice Department said the Japanese auto maker admitted to misleading regulators and the public about the safety problems in its cars in 2009 and 2010.
“Rather than promptly disclosing and correcting safety issues about which they were aware, Toyota made misleading public statements to consumers and gave inaccurate facts to members of Congress,'' said Attorney General Eric Holder.
“When car owners get behind the wheel, they have a right to expect that their vehicle is safe.''
Holder warned other car companies to ``not repeat Toyota's mistake.''
“A recall may damage a company's reputation, but deceiving your customers makes that damage far more lasting,'' he said.
The Toyota settlement came as General Motors faces investigations for taking more than 10 years to address an ignition problem that is linked to more than 30 crashes and 12 deaths.__AFP
   
Other Business breaking news:
European stocks fall sharply (09-04 22:05)
Canada jobless ranks grow (09-04 22:02)
US stocks fall (09-04 22:01)
US jobless rate drops to 5.1pc, employers add 173,000 jobs (09-04 21:12)
Sunevision posts HK$587m profit, data center lifts revenue (09-04 20:53)
Hang Seng closes in the red (09-04 17:01)
China’s HNA Group unit pays US$31 a share for jet lessor Avolon (09-04 13:27)
Hang Seng lower at break (09-04 13:21)
Asia oil prices drop (09-04 12:09)
Regional markets drop, HK climbs (09-04 11:38)

More breaking news >>

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