Toyota is offering to buy back over 800,000 Tacoma pickups built between 1996 and 2000 with rusted frames that are beyond repair. Toyota said that it will buy back the units that cannot be repaired at one and a half times the most generous resale value by Kelly Blue Book.
The move comes after Toyota was under fire from customers which could have put a dent in its reputation for quality.
Toyota will also increase the warranty on Tacoma frames from 3-years or 36,000 miles to 15 years and unlimited mileage.
Not good for Toyota’s pickup business. Sales of the new Toyota Tundra also dropped in April, making it the first decline since the launch of the full-size truck in 2007.