Toyota Motor Corporation’s (TM) trouble with product recalls does not seem to end. The Japanese automaker has now announced its second largest recall of 6.36 million vehicles globally.
27 Toyota models have been recalled for 5 different issues and some of the cars have been recalled for multiple issues. If we double-count such vehicles, the total number of recall increases to 6.76 million.
The largest of the five recalls is being made to replace a spiral cable, which can be damaged due to turning of the steering wheel, resulting in deactivation of air bags. Toyota recalled about 3.5 million vehicles to fix this problem, of which 2.34 million were sold in North America and 810,000 in Europe.
— Zacks Investment Research