Beverly Hills 2/4/2010 11:13:15 PM
News / Business

Toyota Launches Investigation Into Hybrid Brakes

Finance World News Update by EQUITIES Magazine

Today Toyota Motor Corp. expanded a safety probe to all its hybrid models after deciding to investigate previous complaints related to the brakes of its Prius.

 

The company made clear that it had found and corrected problems with its new 2010 Prius hybrid and did not try to “cover up” the glitch. Still, the disclosure and expansion of its investigation to include such models as its Lexus HS250h and Sai luxury hybrid sedans means the automaker’s latest problems will probably overshadow the profit growth it showed in the last quarter as well as expectations of a profit for the fiscal year.

 

In addition, the U.S. Transportation Department has opened an investigation into brake problems into the 2010 Prius after the National Highway Traffic Safety Administration said its has received 124 reports from consumers including four crashes.

 

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Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

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