Report: Toyota plans to pay U.S. fines of $16.4 million
Toyota plans on paying a fine from U.S. regulators without admitting wrongdoing as the Japanese automaker seeks to repair its image and reputation after massive recalls. According to reports from Japanese media, Toyota plans on paying the $16.4 million sought by the National Highway Traffic Safety Administration for failing to notify the department of a “sticky pedal” defect in its cars for at least four months.
Toyota was in talks with U.S. officials and intended to pay the fine ahead of Monday’s appeal deadline, Jiji news agency reported Saturday. The report said that there is still a possibility that Toyota would appeal if regulators did not approve the automaker’s plan of not admitting the allegations.
Toyota’s decision to pay the fine came out of fear that its refusal could draw more negative attention from the U.S. Congress, hurting its efforts to rebuild its image.
– By: Stephen Calogera
Source: Automotive News (Subscription Required)
