Categories: Stock Market

Toyota recalls 118k vehicles as airbags may fail to deploy By Investing.com


© Reuters. Toyota (TM) recalls 181k vehicles as airbags may fail to deploy

Toyota Motor Corporation (NYSE:) announced that they are recalling certain 2023 model year vehicles as investigations found the spiral cable assembly in the steering column may lose electrical connection on the circuit controlling the driver’s airbag.

Toyota spokesperson Josh Burns on Wednesday said about 118,000 vehicles are included, “with approximately 110,000 of those in the U.S.”

In the event of an electrical connection failure, the airbag warning light will come on, and the driver’s airbag might not deploy in the event of a crash. That means the vehicles won’t meet certain federal safety requirements, which could make it more dangerous for the driver if they get into an accident.

The automaker has declined to comment on injuries, accidents or deaths that could have resulted from the safety issue.

The recall covers Corolla, Corolla Cross, Corolla Cross hybrid, Highlander, Highlander hybrid, Tacoma, Lexus RX and RX hybrid and 2024 model year NX and NX hybrid vehicles.

For all recalled vehicles, Toyota and Lexus dealers will inspect the serial number of the spiral cable and replace it with a new cable if necessary at no cost to customers.

Toyota will notify all affected owners about the issue by early September 2023.

Shares of TM are up 0.71% in afternoon trading on Thursday.

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