Stock Market News

Japan orders ‘drastic reforms’ after new Toyota certification violations

2024.07.31 04:35

TOKYO (Reuters) -The Japanese government ordered Toyota Motor (NYSE:) on Wednesday to make “drastic reforms” after discovering new violations in the automaker’s vehicle certification procedures.

In a so-called corrective order, the transport ministry said on-site inspections had uncovered widespread, intentional misconduct and irregularities in seven additional models that had not been previously disclosed.

Toyota said the corrective order instructed it to “make drastic reforms to ensure appropriate certification operations”.

The automaker added it was in the process of confirming compliance with requirements for the models involved, and that customers did not need to stop using affected vehicles.

Earlier this month, Toyota said it had not found any new cases of wrongdoing in car model certification applications beyond the ones it had already reported in June.

Toyota and four other vehicle makers admitted in June they had submitted either flawed or manipulated data when applying for certification of vehicles.

Toyota’s wrongdoing involved three production models – the Corolla Fielder, Corolla Axio and Yaris Cross – and discontinued versions of four other models, including one sold under the luxury Lexus brand.

Toyota said it was planning to resume production for these models from the beginning of September after the transport ministry confirmed they met compliance requirements.

The Japanese automakers conducted the investigation after the transport ministry ordered industry-wide checks of certification practices following a safety test scandal at Toyota’s Daihatsu compact car unit.

© Reuters. FILE PHOTO: A Toyota Logo is seen at a Toyota dealership in Zaventem, Belgium, November 25, 2022. REUTERS/Johanna Geron/File Photo

The ministry said six of the seven additional Toyota models with irregularities were also certified in other countries, and it had alerted overseas authorities about the issues.

Four of the additional models – a minivan sold under the names of Noah and Voxy, and the RAV4, Harrier, and Lexus LM – are still in production by Toyota while three are no longer manufactured.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 103,442.72 0.34%
ethereum
Ethereum (ETH) $ 3,250.16 0.09%
xrp
XRP (XRP) $ 3.09 2.74%
tether
Tether (USDT) $ 1.00 0.06%
solana
Solana (SOL) $ 247.09 6.88%
bnb
BNB (BNB) $ 686.27 1.27%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.346638 3.33%
cardano
Cardano (ADA) $ 0.978322 1.01%
staked-ether
Lido Staked Ether (STETH) $ 3,252.55 0.36%
tron
TRON (TRX) $ 0.249775 2.16%
chainlink
Chainlink (LINK) $ 25.07 1.05%
avalanche-2
Avalanche (AVAX) $ 35.03 4.84%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,858.72 0.58%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 103,046.61 0.80%
stellar
Stellar (XLM) $ 0.425075 1.23%
sui
Sui (SUI) $ 4.22 6.46%
the-open-network
Toncoin (TON) $ 5.09 3.67%
hedera-hashgraph
Hedera (HBAR) $ 0.318669 1.91%
shiba-inu
Shiba Inu (SHIB) $ 0.00002 2.21%
weth
WETH (WETH) $ 3,242.20 0.12%
polkadot
Polkadot (DOT) $ 6.27 3.05%
leo-token
LEO Token (LEO) $ 9.72 0.65%
litecoin
Litecoin (LTC) $ 114.58 0.96%
bitget-token
Bitget Token (BGB) $ 7.19 1.53%
bitcoin-cash
Bitcoin Cash (BCH) $ 432.92 0.92%
hyperliquid
Hyperliquid (HYPE) $ 22.39 11.88%
uniswap
Uniswap (UNI) $ 12.57 3.09%
official-trump
Official Trump (TRUMP) $ 35.00 9.99%
usds
USDS (USDS) $ 1.01 0.48%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,419.93 0.39%
pepe
Pepe (PEPE) $ 0.000015 4.79%
near
NEAR Protocol (NEAR) $ 4.93 4.12%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.55%
aave
Aave (AAVE) $ 331.06 5.12%
aptos
Aptos (APT) $ 8.18 4.01%
internet-computer
Internet Computer (ICP) $ 9.14 0.28%
mantle
Mantle (MNT) $ 1.26 11.97%
ethereum-classic
Ethereum Classic (ETC) $ 28.16 5.13%
ondo-finance
Ondo (ONDO) $ 1.34 2.91%
whitebit
WhiteBIT Coin (WBT) $ 28.30 0.42%
monero
Monero (XMR) $ 216.10 2.34%
vechain
VeChain (VET) $ 0.04863 1.87%
crypto-com-chain
Cronos (CRO) $ 0.138908 1.36%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.434448 2.19%
dai
Dai (DAI) $ 1.00 0.02%
render-token
Render (RENDER) $ 6.84 3.53%
mantra-dao
MANTRA (OM) $ 3.65 1.66%
jupiter-exchange-solana
Jupiter (JUP) $ 0.779633 4.71%
layer-one-x-2
Layer One X (L1X) $ 26.64 532.62%