Wednesday, October 22, 2014   

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:
Heineken Q3 sales dip, but toasts 2014 outlook (10-22 18:38)
Boeing and Chinese firm to turn 'gutter oil' into jet fuel (10-22 18:37)
EU's Juncker promises careful look at US trade deal (10-22 18:25)
Apple chief meets Chinese official amid iCloud hacking row (10-22 17:25)
Shaky Japanese economy hit by growing trade deficit (10-22 17:19)
Bank of England keeps rates steady (10-22 17:02)
Hang Seng finishes higher (10-22 16:23)
Soft Australian inflation supports low interest rates (10-22 13:17)
Hang Seng up by lunch (10-22 13:01)
Nikkei bounces back by break (10-22 11:13)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.