Toyota to pay U$3.4 bln settlement over corrosion claims
Toyota to pay U$3.4 bln settlement over corrosion claimsToyota Motor Corp. will pay up to US$3.4 billion to settle claims that certain of its trucks and sport-utility vehicles lacked proper rust protection, leading to premature corrosion.The deal, filed in US District Court in Los Angeles, settles litigation in two states over problems with Toyota Tacoma trucks from model years 2005 to 2010, Tundras from 2007 to 2008 and Sequoias from 2005 to 2008, the Wall Street Journal reports."We want our customers to have a great ownership experience, so we are pleased to resolve this litigation in a way that benefits them and demonstrates that we stand behind the quality and reliability of our vehicles," Toyota said.
Toyota to pay $3B to pickup owners over rust
The proposed settlement includes Toyota Tacomas from model years 2005-2010, Tundras from model years 2007-2008 and Sequoia vehicles from model years 2005-2008.(Photo: Justin Sullivan / Getty Images)Washington — Toyota Motor Corp. has agreed to pay more than $3 billion to compensate owners of trucks with frames that are likely to rust through.The payouts will go to approximately 1.5 million owners of certain Tacoma, Tundra and Sequoia trucks under the agreement approved by U.S. District Judge Fernando M. Olguin in a Los Angeles court on Wednesday.
Toyota to pay up to $3.4 billion to settle US truck lawsuit
Auto industryToyota to pay up to $3.4 billion to settle truck lawsuitToyota will pay up to $3.4 billion to settle a class action lawsuit brought by US pickup and sport utility vehicle owners whose vehicles lacked adequate rust protection.Court filings show that the settlement reached Oct. 31 covers 1.5 million vehicles, dealing a financial blow to the Japanese automaker whose trucks were subject to corrosion that could harm their structural integrity.The settlement applies to Tacoma trucks made from 2005 to 2010, Sequoias from 2005 to 2008, and Tundras from 2007 to 2008.
Toyota to pay $3.4b over rusty Tundra, Tacoma and Sequoia vehicles
Toyota to pay $3.4b over rusty Tundra, Tacoma and Sequoia vehiclesPending court approval of the deal, Toyota will pay up to $3.4 billion to settle a lawsuit over Tundra, Tacoma, and Sequoia vehicles allegedly afflicted with faulty rust protection.The settlement doesn't involve Toyota admitting that it failed to adequately protect the affected vehicles from rusting, but does represent what will likely end up being a huge financial blow to the company.As part of the settlement, affected vehicles found to have improper rust protection will be eligible to have their frame replaced.
Toyota to pay more than $3B to settle truck lawsuit
× Toyota to pay more than $3B to settle truck lawsuitWASHINGTON D.C. — Toyota will pay up to $3.4 billion to settle a class action lawsuit brought by U.S. pickup truck and SUV owners whose vehicles lacked adequate rust protection.Court filings show that the settlement reached on October 31 covers 1.5 million vehicles, dealing a financial blow to the Japanese automaker whose trucks were subject to corrosion that could harm their structural integrity.The settlement applies to Tacoma trucks made from 2005 to 2010, Sequoias from 2005 to 2008 and Tundras from 2007 to 2008.