Beverly Hills 2/9/2010 3:28:30 AM
News / Business

Toyota to Recall 300,000 Prius'

Financial World News Update by Equities Magazine

Toyota announced plans to recall approximately 300,000 Prius hybrids distributed worldwide in order to amend a brake problem that has cost the company a great deal both in revenue and in reputation.

 

U.S. and Japanese governments will receive official word on Tuesday according to reports, when a top Toyota executive will testify regarding the problems. The recall will cover the gas-electric hybrid first released in May of 2009.

 

The recall of the gas-electric Prius will cover the latest version of the cars that went on sale from May last year, Kyodo News agency reported late Monday.

 

Roughly 270,000 of the most recent Prius model will be recalled.

 

Toyota has been on damage control, weighing its options to help assuage stigma for the brand. At present, the company has been rumored to be considering a service campaign urging Pruis owners would be notified to submit their vehicles for repairs rather than a safety recall.

 

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