ray lahood

News: Can Akio Toyoda survive the Toyota debacle?

April 30, 2010

The first family head of the company in 14 years has a big job on his hands reports Katie Barker.

When third-generation Akio Toyoda took the helm at the world's largest automaker in June 2009, he knew he was in for a tough ride. The world was in the grips of recession, the car industry was on its knees and Toyota had just posted its first annual loss in 59 years. It hasn't got any easier.

Toyota agrees to pay $16.4 million fine

April 20, 2010

Toyota Motor Corporation, the family-controlled automaker, announced yesterday it would pay the $16.4 million fine imposed on the company by the US Department of Transport.

Toyota said it had taken the decision "in order to avoid a protracted dispute and possible litigation, as well as to allow us to move forward fully-focused on the steps to strengthen our quality assurance operations."

US Department of Transport to fine Toyota $16.4 million

April 6, 2010

The US Department of Transport has announced that it plans to fine Toyota Motor Corporation $16.4 million after the family-controlled automaker failed to notify US transport regulators about defects that allegedly cause unintended acceleration.